This article is from the Australian Property Journal archive
DEVELOPER Fridcorp has acquired a boutique apartment development site in North Melbourne from Spec Property.
The 3 and 5 – 15 Shiel St North Melbourne property comprises a 1,311 sqm site and was sold with an existing permit for 65 residences, obtained by Spec Property.
However, Fridcorp plans to submit plans for an amended permit to Melbourne City Council, comprising a circa 120 apartments across 12 levels.
Fridcorp founder and director Paul Fridman said the business is pursuing additional development opportunities in Melbourne’s inner city growth areas such as North Melbourne.
“We believe there is strong demand for apartments in prime locations that provide a genuine alternative to a home without compromising on design or lifestyle. We are actively seeking sites in Melbourne that allow us to meet this criteria, as well as deliver long term investment potential and growth for owner occupiers and investors.
“North Melbourne is a new market for Fridcorp but the inner city lifestyle, combined with the new Canning St retail hub, surrounding greenery and parklands, as well as its unique access to the CBD and airport, has seen the suburb become exponentially popular with a cross section of ages and demographics, and we expect a strong response to our product,” he added.
Elenberg Fraser will deliver both the architecture and interiors for the project. Fridcorp expects to launch the project in early 2017, with construction scheduled to commence mid 2017.
Australian Property Journal
