This article is from the Australian Property Journal archive
PROPERTY group Sterling Global have snapped up a Collins Street site in Melbourne’s CBD, with a town planning application being lodged for a future mixed-use development.
The site at 623 Collins Street, on the corner of Spencer Street and diagonally opposite Southern Cross Station, is the proposed home for a $420 million 42-level development designed by Carr.
The development would include 175 one-, two- and three-bedroom residences, with eight sub-penthouses and penthouses, in addition to 229 hotel keys.
“623 Collins Street completes the revitalization of the western CBD end of Collins Street with a high- quality mixed-use development which will become a landmark destination providing a new offering of CBD apartments, contemporary food and beverage, as well as an upper-scale lifestyle hotel operator,” said Brandon Yeoh, director at Sterling Global.
The site is anchored by the 1920s-built former State Savings Bank building, which Carr has been working with heritage consultants Lovell Chen to explore restoring the heritage facade, in addition to refurbishing the existing banking chamber.
“Introducing a new architectural language to the area, the design for 623 Collins Street aims to revive the historic site with a contemporary yet considered response,” said Chris McCue, managing director at Carr.
“The new glass-bladed twin tower is recessed above the heritage façade and features separate entrances for residential and commercial spaces, providing an elevated and distinctive arrival experience.”
The proposed development will include permeable access on the ground floor for pedestrian access, a roof top bar and fine dining restaurant.
623 Collins Street is well serviced by amenities with immediate access to public transport, the Yarra River walking and cycling tracks within close proximity and plenty of surrounding food and beverage offerings.
“This is Sterling Global’s first hotel acquisition and our vision is for a community centric hub with a space for local workers, residents and travellers to connect, interact and celebrate, by offering inclusive and engaging spaces for everyone,” concluded Yeoh.
