This article is from the Australian Property Journal archive
MALAYSIAN property developer Gamuda Land has kicked off construction on its $90 million Fareham apartments project on Melbourne’s St Kilda Road, following the appointment of family-owned construction firm Markscon.
Fareham will comprise 73 apartments rising above a former Europcar car rental site, which it bought for nearly $10 million shortly after it announced a 1,000-home delivery plan.
It unveiled plans for the site at the end of 2022, and obtained approval late last year after it successfully challenged permit requirement at the Victorian Civil Administration Tribunal that required two levels be cut from the building’s height.
Construction will create 130 jobs throughout the duration of the project.
Designed by award-winning architects BayleyWard, Fareham will rise 16 levels high and feature a maximum of six apartments per floor with the majority offering bay views. Residents will have access to a communal garden on level one, a well-being room on level two and a communal rooftop on level 15.
The tower will aim to achieve a minimum 7.5 Star NatHERS rating and will be powered by an embedded network providing 100% renewable energy, including rooftop solar photovoltaic panels. Additional features include EV charging capabilities, secure bike parks and an onsite bicycle workshop to encourage residents to opt for greener travel arrangements.
Landscaping and greenery is by Loci Design Collection.
Gamuda Land general manager Jarrod Tai said Markscon was appointed due to their stellar track record and capability to self-perform construction of critical elements.
“Markscon has helped deliver some of Melbourne’s most boundary-pushing projects, including two Nightingale projects. Both Markscon and Gamuda share a vision of creating meaningful and sustainable urban environments.”
City of Port Phillip Councillors Marcus Pearl, Peter Martin and Christina Sirakoff attended the groundbreaking ceremony.
Fareham is due for completion in 2026. Limited residences remain, priced from $600,000 to $4 million.
Gamuda Land is also delivering The Canopy on the 2,600 sqm former Dunlop Rubber Co site at 272 Normanby Road in South Melbourne, which it acquired two years ago for $24 million.
According to newly released JLL data, Melbourne has a pipeline of 21,222 apartments – the highest in the country – although the overall figure is well short of the required figure to rebalance the current demand and supply dynamics.
