This article is from the Australian Property Journal archive
MORE than a year after revising development plans, Mirvac has unveiled its $350 million luxury residential tower, Trielle, the tallest building to be introduced to Yarra’s Edge community in Melbourne’s Docklands.
Formerly referred to as Tower 9, the 45-level tower will be built on an unrepeatable waterfront position on the Collins Street axis of Melbourne, just 12.5 metres from the Yarra River.
Mirvac submitted a revised planning application last year that included 191 residences, down from 222 and with amended floor-to-ceiling heights and configurations, and also including a nine-level podium, ground-level retail space and above-ground parking. Approval was granted this year.
Mirvac’s general manager, residential development Victoria, Elysa Anderson, said the upcoming launch in 2023 of Trielle demonstrated prospective purchasers’ ongoing appetite for premium, lifestyle-focused apartments.
Anderson noted that market vacancy across the east coast residential market has fallen to around 1.5%, according to SQM Research, while Australian Bureau of Statistics data shows new apartment starts are at lowest levels seen since 2012 and the recent increase of permanent migration caps will see an acceleration in population growth.
“Discerning buyers are acting decisively in the tightening market to secure quality, larger apartments setting themselves up for future growth.
“In particular we are seeing demand from customers that are wanting to downsize – especially when presented with a compelling value proposition like Trielle, in a location with so much going for it.”
Anderson said Trielle was anticipated to appeal to a broader owner occupier demographic, primarily “right-sizers” looking for an exciting new lifestyle offering, seeking easily maintainable prime properties close to city centre locations, with amenities that match their needs.
This includes experienced apartment dwellers looking to upgrade their home and lifestyle and out-of-towners seeking a city base.
The all-electric tower has also been designed to go beyond current sustainable building codes and will evolve under construction, with a centralised electric heat pump hot water system, rainwater and stormwater storage and reuse and induction cooktops as standard.
Defined spaces have been curated to “focus” – biblioteca-style library and work pods; “connect” – full-time concierge and Saletta Business Lounge; “revel” – piano bar with self-playing piano, chef’s table, adjoining wine cellar, games room and cocktail bar, theatre, teppanyaki barbeque and golf simulator; and “reset”, an oasis retreat with urban rainforest gardens, a Scandinavian-inspired wellness centre, 25-metre pool, magnesium pool, spa, sauna, cold-pailing and treatment rooms.
.Mirvac’s Victorian apartments portfolio, also includes Voyager at Yarra’s Edge, The Eastbourne’s luxury residences in East Melbourne, and recently topped-out, Forme at Apartments of Tullamore in Doncaster. It also has build-to-rent projects on Melbourne’s city fringe, next to the Queen Victoria Market and on Spencer Street.
Yarra’s Edge is 14.5-hectare inner-city waterfront community located on the north-facing bank of the Yarra River that has been developed by Mirvac for more than 20 years. It is now home to over 3,000 residents, and is anticipated to include 2,300 dwellings once complete.
Expressions of interest are now being registered for Trielle, with the official launch planned for early 2023 and construction anticipated to commence in mid to late 2023.
