Cbus Property pushes further into the Melbourne residential market
Synonymous with large-scale commercial developments for much of its history, Cbus Property is increasingly turning its hand to apartment development in Melbourne. The unique property investor and developer - backed by its superannuation parent - has recently lodged plans for a sizeable Collingwood development, its fifth current Melbourne residential apartment pursuit.
With the lodgement of plans for 61-71 Wellington Street Collingwood, Cbus Property now holds hundreds of apartments in its Melbourne development pipeline in addition to the 408 dwellings currently under construction over two Melbourne sites.
The latest addition
- 61-71 Wellington Street and 37-39 Langridge Street, Collingwood
- 13 level residential development
- 196 dwellings: 98 x 1BR, 82 x 2BR and 16 x 3BR
- 163 car parking spaces and 93 bicycle spaces within three basement levels
- 117sqm retail space
- Three commercial spaces: 392sqm total
Designed by John Wardle Architects, the proposed glazed tower is to sit behind a partially retained and restored brick facade onsite, with new podium brickwork set to match the existing exteriors.
John Wardle Architects provided a design response for the project, which reads as follows:
The Collingwood silos have been a significant part of Melbourne's skyline since the expansion of industry and the development of production in the mid 20th century. Originally used to house Barley for brewery/malting works, today the remaining silos are either idle or have been converted into apartment buildings.
The apartment building slab edges have been generated using a negative imprint of a cylindrical form that contextually references the historical Collingwood silos. The curved, scalloped slab edges are expressed around the entire perimeter of the building which also form the apartment balconies.
Design statement, John Wardle Architects
The Cbus juggernaut gathers momentum
Construction progress on 35 Spring Street is set to hasten as the premium 43 level residential tower moves beyond its podium structure, while North Melbourne's Assembly sees its concrete structure for the 138 associated apartments nearing the midway point. Assembly was purchased from private developer Equiset just as public sales began for the project.
It remains to be seen what will be achieved with Cbus Property's forthcoming 9 Dryburgh Street West Melbourne project which was met with refusal from Melbourne City Council during April 2015, although is now shown as being at referral. In its initial guise 9 Dryburgh Street would have seen 217 apartment over 13 levels, although Cbus now suggests a yield of approximately 160 apartments is likely with construction commencement anticipated during 2016.
Last in line is 447 Collins Street which in previous incarnations has involved residential applications within the mixed-use project. With reports a revised planning application is set to be lodged shortly, it is likely a portion of the project will be set aside for apartments which would command top dollar given the project's premier location and unimpeded southerly views.
Incidentally should the project resemble the above recent render, the upper reaches of 447 Collins Street will bring a new design dynamic to the Melbourne skyline; perhaps a unique selling point for future apartment sales?
