This article is from the Australian Property Journal archive
PROPERTY giant Lendlease has been given the green light from the Victorian government to build 915 apartments that will complete its Collins Wharf precinct in Melbourne’s Docklands.
The Victorian Department of Transport and Planning has granted approval of three new buildings, providing planning certainty for the balance of Collins Wharf, located at 915-1055 Collins Street.
At number 899, Lendlease and Japanese joint venture partner Nippon Steel Kowa Real Estate have just kicked off construction on their $500 million, 499-residence build-to-rent development.
The first of the three newly approved additional developments is designed by Ewert Leaf & Kennon architects and will feature 349 apartments spanning 28 levels. The second and third developments are designed by Architectus with one comprising 375 apartments and 28 levels, and the final offering 191 apartments spanning 16 levels.
“We’ve approved hundreds more homes to be built at Collins Wharf, completing the final piece of the development of this significant waterfront site that will provide inner-city homes for thousands of people,” said Victorian Planning Minister Sonya Kilkenny.
Planning approval has also been received for a neighbouring public park designed by Aspect Studios that will feature over 1,500 sqm of open space including a large central lawn surrounded by a terraced timber lounge and native planting overlooking the Yarra River.
The precinct boasts uninterrupted views of Victoria Harbour towards the city or the Yarra River across to Port Phillip Bay.
“The approval of the final stage of Collins Wharf will help support the ongoing demand we are experiencing in the area, as buyers seek opportunities to live near some of the world’s best food, arts, sport and entertainment in Melbourne while enjoying a waterfront lifestyle,” Daniel Dugina, executive director development, Lendlease said.
Approvals follow the flagship No. 1 Collins Wharf development completed by Lendlease in 2019. Construction has commenced on the second development, Regatta after achieving over 80% in pre-sales and earmarked for completion in 2026. The third, known as Ancora has reached over 40% sold since launching in April this year and is scheduled for completion in 2027.
Once complete, Lendlease will deliver over 5,000 homes in total to Victoria Harbour and over 6,500 homes to the Docklands, including residences in the Melbourne Quarter precinct, across build-to-sell and build-to-rent apartments.
Lendlease last year brought in Japan’s largest homebuilder, Daiwa House, to develop its $650 million Melbourne Quarter build-to-rent tower at 646-666 Flinders Street.
Elsewhere in Docklands, developer Tim Gurner and Liberman family-backed joint venture partner City Harbour have received planning approval for the first stage of their $1.7 billion “futuristic wellness and anti-ageing utopia”.
Meanwhile Victoria’s Allan government has approved AsheMorgan’s 925-apartment project plans at 24 Little Docklands Drive, near Marvel Stadium and the Esplanade, and developer Samma Property Group has the green light for a $250 million tower with build-to-rent on the Yarra River, next to the Bolte Bridge.
Marvel Stadium itself this year completed a $225 redevelopment of its amenity, access and gathering spaces, while the Melbourne Star Observation wheel, which has sat dormant on the skyline for three years, is reportedly close to running again. Talks are advanced between liquidators and a prospective purchaser for the $100 million, 120-metre high structure.
