268-274 City Road, Southbank

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Melbourne's Southbank represents nearly 30 years of development which has transformed industrial land on the banks of the Yarra River into a thriving suburb and this shows no signs of abating anytime soon.

The next five years will see an even more dramatic transformation as Southbank not only reaches for the sky but sets its focus to the street and improving the quality of the pedestrian environment.

Significant developments such as some of Australia's tallest buildings in Australia 108 (319m) One Queensbridge Street and (323m) Southbank by Beulah (360m) will join Eureka Tower (297m) in producing a dramatic cluster of buildings.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/southbank_dev_overview_talls_aug18.jpg" rel="gallery-all" title="Southbank's tallest towers. L-R: Australia108, One Queensbridge, Southbank by Beulah"><img alt="" class="image-article-full-width-580px" height="309" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/southbank_dev_overview_talls_aug18.jpg?itok=BzZL6A5h" title="Southbank's tallest towers. L-R: Australia108, One Queensbridge, Southbank by Beulah" width="580"></a>

<figcaption>Southbank's tallest towers. L-R: Australia108, One Queensbridge, Southbank by Beulah</figcaption></figure>Tower's aside Southbank is also seeing increased investment in the public realm both from the private sector, and local and state governments.

As part of stage 1 of its Melbourne Square development, OSK Property will deliver a new 3,700 sqm sloping public park which will occupy more than 20 per cent of overall site. Upon completion Melbourne Square will comprise six towers including an office and hotel, Southbank's first full line supermarket, and childcare and health services.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/osk_property_melbourne_square_aerial_park_2_0.jpg" rel="gallery-all" title="Melbourne Square's sloping park. Image: OSK Property"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/osk_property_melbourne_square_aerial_park_2_0.jpg?itok=icEgt-Oh" title="Melbourne Square's sloping park. Image: OSK Property" width="580"></a>

<figcaption>Melbourne Square's sloping park. Image: OSK Property</figcaption></figure>The State Government's continued investment in the Southbank Arts Precinct will see $208 million committed towards the planning of stage 1 of a project that would see the development of NGV Contemporary on the former Carlton &amp; United Breweries headquarters site which the government purchased earlier this year.

A currently vacant site which hosts the Testing Ground pop-up at 1 City Road, will also become the home of a new hub for the precinct. 

The hub will house the Australia Performing Arts Gallery, an expanded Australian Music Vault, administrative, education and research facilities, and a new centre for small-to-medium and independent arts organisations.

18,000 square metres of new and expanded open space will be added to Southbank via an elevated park at the Southbank Boulevard end linking Princes Bridge down through the precinct to a new linear park on Southbank Boulevard.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/arm_shot_01_v11sm_0.jpg" rel="gallery-all" title="Southbank Arts Precinct transformation. Image: Urban Circus via ARM"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/arm_shot_01_v11sm_0.jpg?itok=EXPS1zlM" title="Southbank Arts Precinct transformation. Image: Urban Circus via ARM" width="580"></a>

<figcaption>Southbank Arts Precinct transformation. Image: Urban Circus via ARM</figcaption></figure>Other projects such as the City of Melbourne's Southbank Boulevard and Dodd Street transformation, coupled with the City Road Master Plan will add to the suburb's open space network which is currently lacking.

The Southbank Boulevard transformation project which will be undertaken in stages will create 2.5 hectares of new public open space on Southbank Boulevard and Dodds Street, with the first stage expected to take 18-months to complete.

Upon completion the project will provide Southbank, which is Melbourne’s most densely populated suburb with much needed public open space.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbank_boulevard_and_dodds_street.jpg" rel="gallery-all" title="Southbank Boulevard and Dodds Street will add much needed open space. Image: City of Melbourne"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbank_boulevard_and_dodds_street.jpg?itok=pp1gXPgv" title="Southbank Boulevard and Dodds Street will add much needed open space. Image: City of Melbourne" width="580"></a>

<figcaption>Southbank Boulevard and Dodds Street will add much needed open space. Image: City of Melbourne</figcaption></figure>A number of developments within the Fishermans Bend Urban Renewal Area are expanding the Southbank skyline westwards however, these projects will ultimately form the Montague Precinct in the future.

<h2>Planning Assessment</h2>

An overview of projects currently under planning assessment within Southbank:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbank_dev_overview_planning.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="328" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbank_dev_overview_planning.png?itok=OUfoQ0Yb" width="580"></a>

<figcaption> </figcaption></figure><h2>Approved </h2>

An overview of approved developments within Southbank:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbank_dev_overview_approved.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="301" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbank_dev_overview_approved.png?itok=q7uQpII4" width="580"></a>

<figcaption> </figcaption></figure><h2>Sales &amp; Registration</h2>

An overview of Southbank developments currently at Sales &amp; Registration:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbank_dev_overview_sales_and_registration.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="329" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbank_dev_overview_sales_and_registration.png?itok=AnFGi4-h" width="580"></a>

<figcaption> </figcaption></figure><h2>Under Construction</h2>

An overview of developments currently under construction within Southbank:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbank_dev_overview_construction.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="329" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbank_dev_overview_construction.png?itok=Qf0vHS5Q" width="580"></a>

<figcaption> </figcaption></figure>
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Laurence Dragomir

Southbank Development Overview August 2018

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Already a prolific developer in the area, Central Equity is preparing to launch what could be Southbank's only new major apartment release for the year.

Central Equity has dubbed 71-87 City Road Focus Apartments and intends to launch the project this year. Registrations are open for the development which will eventually sit at the southern end of Southbank between two hotel developments under construction, namely Holiday Inn Express and Adina Southbank.

<a href="/buildings/focus-melbourne-81-city-road-southbank">Focus Apartments</a> is a 50 level skyscraper that holds approval for just under 600 apartments, split between 252 one, 208 two and 131 three bedroom apartments, with a singular four bedroom apartment capping the project. Central Equity's final apartment balance for the project has yet to be revealed.

Southbank's overall apartment market has seen limited new apartment projects released over the past 18 months due to softening investor demand, although projects such as Palladium Tower and Melbourne Square are still substantial projects in their own right.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image213_0.jpg" rel="gallery-all" title="Central Equity's soon to launch City Road development"><img alt="" class="image-article-full-width-580px" height="761" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image213_0.jpg?itok=h8fvH5Bh" title="Central Equity's soon to launch City Road development" width="580"></a>

<figcaption>Central Equity's soon to launch City Road development</figcaption></figure>Central Equity initially sought to create a larger tower at across 71-87 City Road. When it <a href="https://www.urban.com.au/news/central-equity-breaks-the-mould-71-87-city-road-southbank">first hit planning</a> under the design guidance of Doig Architecture it was to have been 67 levels and 225 metres.

The eventual permit at 50 levels saw almost 200 apartments and approximately 75 metres shaved off the tower form. Three years will have passed since its initial planning submission during mid-2015 to when it is launched for sales as Focus Apartments.

Central Equity will target both owner-occupiers and investors for the tower, which includes multiple colour schemes, balconies for each apartment and floor-to-ceiling double glazed windows. Amenities onsite will include a pool, sauna, gym, theatre, resident lounge, and barbeque area whilst concierge services are also intended.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0103_1.jpg" rel="gallery-all" title="Ground works on Melbourne Grand "><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0103_1.jpg?itok=HQzBk89j" title="Ground works on Melbourne Grand " width="580"></a>

<figcaption>Ground works on Melbourne Grand</figcaption></figure>With the approaching the launch of Focus Apartments, Urban.com.au's Project Database shows only 268-274 City Road as Central Equity's sole high-rise project in waiting among a quartet of sizeable apartment towers.

It is an approved Doig Architecture-designed scheme spanning 55 levels or the best part of 190 metres. 475 apartments are included within 268-274 City Road, as it retail at ground level, 215 car spaces, 313 bicycle bays and communal facilities for residents at level 8.

Both City Road projects aside, Central Equity has the remaining two high-rise developments under construction. Southbank Place fronting Kavanagh Street is approximately half height and includes 500 plus apartments, whilst Melbourne Grand on Lonsdale Street is at the very infancy of its construction and includes approximately 650 apartments.

Central Equity also has a number of current land releases in Melbourne's west.
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silvermb

Central Equity brings its Focus back to Southbank

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One of the batch of large planning applications still active yet submitted prior to the current Government's implementation of interim planning controls looks to have gained approval.

According to the State Government's <a href="https://planning-permits.delwp.vic.gov.au/greenlightExt/public/main.aspx?frm=uc_applicationDisplay_CompleteApplication.ascx&amp;appTypeId=1&amp;mId=103&amp;AppId=75">Greenlight online permit manager</a> a large residential tower at 272-282 Queen Street received approval on the 15th of June. Brady Property Group is behind the project with the tower now joining 380 Lonsdale Street as pending CBD projects for the prolific developer.

Submitted during late 2014 and designed by Peddle Thorp Architects, the project contains near on 600 apartments and spans 80 levels or 255 metres. Barring any indication that the tower has changed considerably since its submission, the approval of 272-282 Queen Street is significant in that the project would have contravened interim planning controls if submitted post their implementation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image22_5.jpg" rel="gallery-all"><img alt="272-282 Queen Street as submitted. Planning image: Peddle Thorp" class="image-article-full-width-580px" height="464" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image22_5.jpg?itok=MkrvRXx1" title="272-282 Queen Street as submitted. Planning image: Peddle Thorp" width="580"></a>

<figcaption>272-282 Queen Street as submitted. Planning image: Peddle Thorp Architects</figcaption></figure>272-282 Queen Street's apparent approval poses a wider question; which notable planning applications submitted prior to the interim controls which took hold during September last year and have yet to receive a planning outcome? 

Given the State Government's Greenlight online permit manager is best described as hit and miss, here is Urban.com.au's best assertion as to which of the 'old guard' have yet to reach a planning outcome. Keep in mind that projects shown below are limited to Melbourne's CBD and Southbank, as only they are subject to interim controls, and soon permanent controls which will make the below projects nigh on impossible in many contemporary scenarios.

The vast majority of outstanding applications are centred in the CBD, more so along the CBD's western and northern flank. Eight major submissions dated prior to the interim planning controls are still in play according to Greenlight, with more than 4,400 apartments and an associated hotel still in the air.

Projects such as 111-125 A'Beckett Street, 183-189 A'Beckett Street, 478-488 Elizabeth and 441-451 Elizabeth are seeking to call the northern reaches of the CBD home whilst 640 Bourke Street, 140 king Street and 556-558 Lonsdale Street are looking for a western CBD presence.

This leaves DEXUS Property Group's 32-44 Flinders Street as the sole pre-interim planning control application in the CBD's eastern end.

Should some or all of these projects gain the nod, they will likely contribute to Melbourne's CBD becoming the densest in Australia, <a href="https://www.urban.com.au/news/melbourne-cbd-on-course-to-be-the-most-densely-populated-area-in-australia">in line with this article</a>.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image27_2.jpg" rel="gallery-all"><img alt="A'Beckett, Bourke and Flinders Street towers in the offing" class="image-article-full-width-580px" height="380" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image27_2.jpg?itok=Y5r4y3Gs" title="A'Beckett, Bourke and Flinders Street towers in the offing" width="580"></a>

<figcaption>A'Beckett, Bourke and Flinders Street towers in the offing</figcaption></figure>To Southbank and Central Equity have submissions over two sites at 71-87 City Road and 268-274 City Road, with both comfortably pushing beyond the 200 metre mark in their initial submission. Both were submitted during June 2015 and if the duo receive approval, Central Equity can expect to take another 1,300 plus apartments to market.

Another project under scrutiny south of the river is 135 Sturt Street with the Hayball-designed 41 level tower seeking approval for 300 plus apartments set above a highly active podium.

Less clear is the outcome of 295 City Road. According to Greenlight the project has yet to reach a planning outcome although project lead Crone Architects have the 70 level development as holding town planning approval on their website.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image24_1.jpg" rel="gallery-all"><img alt="295 City Road. Image: Crone Architects" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image24_1.jpg?itok=bp-GPV5o" title="295 City Road. Image: Crone Architects" width="580"></a>

<figcaption>295 City Road. Image: Crone Architects</figcaption></figure>Projects that have seemingly fallen by the wayside include 293-303 La Trobe Street and 63 Exhibition street, whilst redesigned projects such as 158 City Road and 334-344 City Road have yet to be seen publicly.

Whether on not all of the above receive planning approval remains to be seen, but the confirmation of 272-282 Queen Street suggests that there is scope for the batch of 'old guard' applications to receive approval.

 A full list of active major applications submitted prior to the implementation of interim planning controls is seen below. Feel free to comment should any of those seen below be incorrect.
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280 Queen Street gains approval, but who of the 'old guard' are left?

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2015 shapes as a pivotal year for Central Equity with three current sizebale planning applications for the Southbank-based developer set to underpin their intentions for the coming years. After highlighting <a href="https://www.urban.com.au/news/central-equity-breaks-the-mould-71-87-city-road-southbank">71-87 City Road during October</a>, the wraps are now off 268-274 City Road on Southbank and 556-558 Lonsdale Street within Melbourne's CBD.

The latter two if delivered in their initial form would have a joint development value approaching $350 million. Coupled with 71-87 City Road the three proposals which are still before the Minister for Planning and DELWP would all comfortably surpass the 200 metre height benchmark, a first for Central Equity which has for years elected to stick with towers of lesser height.

While the towers will almost invariably be subject to design refinements as they pass through the planning process, they do represent Central Equity's next tranche of high density projects. In recent years Central Equity like many other developers in the Melbourne apartment market has enjoyed robust demand for its product which has seen a handful of their projects sell heavily in next to no time.

The towers at planning are a continuation of Central Equity's penchant for not tinkering with their winning formula. Doig Architecture and Guilford Bell &amp; Graham Fisher Architects are the design firms behind either tower highlighted below, each having an established relationship with the prolific developer which has yielded many residential projects over recent years.

<h2>268-274 City Road development summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image73_2.jpg" rel="gallery-all" title="Doig Architecture's 268-274 City Road"><img alt="" class="image-article-full-width-580px" height="876" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image73_2.jpg?itok=AM3omSa9" title="Doig Architecture's 268-274 City Road" width="580"></a>

<figcaption>Doig Architecture's 268-274 City Road</figcaption></figure><ul>
<li>Design: Doig Architecture</li>
	<li>Proposed: 70 level tower at 222 metres</li>
	<li>Historic building onsite retained within podium structure</li>
	<li>570 apartments: 237 x 1BR, 271 x 2BR, 62 x 3BR</li>
	<li>273sqm ground floor retail tenancy</li>
	<li>Provision for 221 vehicles and 309 bicycles</li>
	<li>Level 10 amenities including terrace, pool, cinema and gym</li>
	<li>Estimated development cost: $120 million</li>
</ul>
<h2>556-558 Lonsdale Street development summary</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image74.jpg" rel="gallery-all" title="556-558 Lonsdale Street in its initial form"><img alt="" class="image-article-full-width-580px" height="983" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image74.jpg?itok=VMIiJIQ3" title="556-558 Lonsdale Street in its initial form" width="580"></a>

<figcaption>556-558 Lonsdale Street in its initial form</figcaption></figure><ul>
<li>Design: Guilford Bell &amp; Graham Fisher Architects</li>
	<li>Likely to be titled Melbourne Grand Apartments</li>
	<li>Site area: 2,187sqm</li>
	<li>Proposed: 67 level tower at 233 metres to top</li>
	<li>889 apartments: 100 x studio, 262 x 1BR, 366 x 2BR, 161 x 3BR</li>
	<li>3 ground floor retail tenancies</li>
	<li>Provision for 308 vehicles and 275 bicycles</li>
	<li>Amenities including pool, gym, theatre room, function room and common area</li>
	<li>Estimated development cost: $200 million</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image75_0.jpg" rel="gallery-all" title="71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street"><img alt="" class="image-article-full-width-580px" height="352" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image75_0.jpg?itok=UegcAPRs" title="71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street" width="580"></a>

<figcaption>71-87 City Road, 54-68 Kavanagh Street and 1 Balston Street</figcaption></figure>556-558 Lonsdale Street and 268-274 City Road join 71-87 City Road as Central Equity's projects which are still at planning, with all three lodged just prior to the implementation of the Metropolitan Planning Levy which commenced on 1 July 2015. In addition, 54-68 Kavanagh Street was granted a planning permit in recent days, allowing for a further 597 dwellings.

Brookfield Multiplex has established itself as Central Equity's builder of choice, with three builds for the developer in progress. Southbank's 1 Balston Street is at piling while 612 Lonsdale Street and 601 Little Lonsdale Street are well into construction.

Overall Central Equity has approximately 1,410 apartments currently under construction, 597 approved by way of 54-68 Kavanagh Street and 2,241 seeking approval as per the initial planning submissions mid year.
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268-274 City Road, Southbank

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Southbank Development Overview August 2018

Central Equity brings its Focus back to Southbank

280 Queen Street gains approval, but who of the 'old guard' are left?

Two giants round out Central Equity's massive development pipeline

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