This article is from the Australian Property Journal archive
DEVELOPER and builder Lowe Living has been approved to redevelop the former Parkdale Hospital site into 45 luxury residences.
Lowe Living acquired the site in December 2023. Located at 152 Como Parade, the 4,771sqm COMO Private Hospital site is one of the last significant developable sites in Parkdale, around 23km south-east of the Melbourne CBD.
The planning permit for the project was achieved in under six months from the Kingston City Council.
The site is set for a low-density development with a mix of one-, two- and three-bedroom apartments targeting local downsizers, with architect Jackson Clement Burrows appointed for Lowe Living’s third Parkdale development.
With the developer also completing Topaz in 2023, with Kallara House currently selling and under construction. While the $160 million mixed-use development in South Melbourne, Emerald Place, broke ground in August.
“Our commitment to setting a new standard of luxury in boutique, medium-density living remains unwavering, especially in the Bayside area where we’ve played a significant role for close to 10 years,” said Emma Lowe, co-founder and managing director at Lowe Living.
“Melbourne’s most aspirational suburbs, including those in Bayside, epitomise the essence of premium living, and we take pride in contributing positively to the community through thoughtful and innovative developments.”
State government figures suggest Kingston City Council dwellings need to increase by 70% by 2051 to keep up with growing demand, while only 787 new residential dwellings were approved over the 2024 financial year.
“Melbourne’s Bayside is experiencing unmitigated growth as economic factors and a lack of developable sites is pushing growth exponentially outwards,” added Lowe.
“Parkdale is a well-established location close to quality schools, existing retail and community amenities, and is the perfect location to welcome sensitive, yet quality new housing that can support a growing local population.
The site will add $66 million to the developers current $780 million portfolio and will represent its 17th project overall, having acquired the site in March last year for a speculated circa $9 million.
“The scale of the land afforded us the flexibility to deliver premium residences while maintaining a low-density profile. This is one of the last super-sites in the area, and we approached the design with both the community and the site’s potential in mind,” said Lowe
“The project addresses a critical undersupply of high-quality, contemporary designed apartments in Bayside, and seeks to preserve the charm of Parkdale while introducing contemporary, lifestyle-driven living spaces.”
The Parkdale project is set to launch later this year with construction scheduled to commence in 2025.
