This article is from the Australian Property Journal archive
OREANA are planning to transform their South Yarra Square site into a $250 million project after submitting a development application to remodel the site.
Oreana Group landed the 2474 sqm South Yarra Square site located at 169-175 and 177 Toorak Road in 2021 as they stated their plans to create a luxury hotel, retail and office complex.
Their development application follows through on those plans with the project set to generate 500 construction jobs with the end aim to attract 50,000 domestic and international guests per year.
The project will span more than 30,000 sqm – allotting for 9,300 sqm of lettable office space, 1400 sqm of retail, 4,200 for the luxury hotel and four basement parking levels. There are three street frontages to the site, spanning 132 metres – making it one of the largest and strategic development sites in South Yarra.
Architecture firm Fender Katsalidis designed the development which contains a plethora of internal and external features. Offices with end-of-trip facilities, 116 hotel rooms with balconies, day spa and wellness centre are just a couple of the additions to the development.
The Italianate and Tudor building facades will be preserved within the development due to heritage significance and will feature boutique retail stores, function and event spaces and bars and restaurants.
Oreana Group managing director Steven Sass outlines that the new site will offer a range of services in multiple different areas.
“This development will transform the site into a 24/7 hub for retail, hotel and office workers, hotel guests, shoppers, and bar and restaurant patrons,” Sass said.
“At the same time, there will be considerable economic benefit from the creation of an estimated 500 jobs during construction with a further 100 jobs created when the hotel and hospitality venues open.”
“The offices will also be home to approximately 780 employees and the hotel, which will be one of the only luxury hotels in South Yarra, is expected to attract 50,000 local, interstate and international hotel guests per annum and will inject millions into the local economy.”
“South Yarra has huge potential and we’ve already seen a number of new projects launched in the past five years. This project adds another innovative dimension to the local offering,” added Sass.
“The site has a rich heritage which we intend to honour through the creation of a beautifully designed precinct that is truly South Yarra.”
Another key feature of the development will be a newly designed public piazza incorporating public seating amongst a lush landscape designed by Oculus Landscape. Fender Katsalidis director Nicky Drobis says that this was an important addition to the project.
“We wanted to incorporate a sense of discovery into the reimagined piazza and contribute to the vibrancy and liveability of the area,” she said.
“The proposed material palette is inspired by the tones and textures present in both retained heritage buildings, which will be an architectural focal point, while a central water feature, beautiful trees and generous seating will create opportunities for the community to engage with the environment and each other.”
The construction is being slated to start in early 2024 and is expected to take up to 24 months to complete.
