This article is from the Australian Property Journal archive
596 St Kilda Road in Melbourne has hit the market again, with the city fringe residential development site being offered with a permit for a 19-storey 101-apartment tower in hand.
The cleared 1,800sqm site was last up for sale in August of 2020, after a Taiwanese buyer acquired the site for $34 million back in 2017, two years after Singapore’s Lian Beng Group and KSH Holdings paid $25 million.
This time round, Julian Heatherich and Benson Zhou from Savills, in conjunction with Kieran Bourke and Beau Coulter from Burgess Rawson, have been appointed to market the property via an expressions of interest campaign.
“This will test appetite for large-scale residential development projects in the current market and within this prestigious development precinct,” said Heatherich, director at Savills.
“In a class of its own, this location presents unrivalled landmarks in every direction, a short walk south to the eclectic lifestyle amenity of the St Kilda Foreshore, east to Fawkner Park and the Chapel Street retail precinct, west to Albert Park Lake and a short tram ride north to Melbourne’s CBD.”
In addition to its placement, the approved project includes amenities such as a pool, gym, wine room and landscaped outdoor spaces at the ground level.
The tower will also include a communal rooftop terrace with panoramic views of Melbourne, outdoor lounge areas, a spa, kitchen and dining room.
“596 St Kilda Road is situated within Melbourne’s finest lifestyle area on the tree-lined gateway to the CBD. The property is surrounded by popular retail strips, parks and gardens, and is well connected to transport and world-class education facilities,” added Heatherich.
The expressions of interest campaign for 596 St Kilda Road is scheduled to close on 3 August, 2022.
