Orion International Group set for a suburban apartment blitz
A relatively unknown developer is in the process of asserting itself on the Melbourne property landscape with Orion International Group (OIG) accumulating a handful of substantial apartment development sites. Unlike the majority of Asian-affiliated property developers who have sought to secure inner-city development plots for large to ultra projects, OIG has gathered substantially sized middle and outer suburban sites.
OIG's current projects listed within the Urban.com.au project database have the ability to yield in excess of 400 new dwellings, with this number likely to exceed 1,000 suburban dwellings based upon forthcoming projects. This may prove to be a wise move with many pundits predicting Melbourne's inner-city apartment market will reach saturation point in the period ahead.
Headed by Director Sean (Shujun) Li whose property development background flows to both Australia and China, OIG now holds key development sites in suburbs such as Mont Albert, Ringwood, Frankston and Maribyrnong. A recent acquisition saw 692 Whitehorse Road added to the portfolio, with scope for an approved 56 dwellings onsite.
Maribyrnong has become a focal point for OIG with dual projects on the radar. 2 Wests Road has been christened Summus, with local registrations of interest open in addition to the project appearing on a number of Asian-based sales portals.
In its approved guise 2 Wests Road was to have contained 192 dwellings over three buildings in a staged development encompassing a corner 3,871sqm site, although the Doig Architecture-designed project has been revised (at least externally) since OIG purchased the site earlier in the year.
265 Gordon Street on the other hand shapes as a longer term development prospect. Situated next to Edgewater Estate which is itself witnessing the construction of multiple high-density apartment projects, 265 Gordon Street's sheer size suggests that any development of the site will be rolled out over a number of years and contain in part high-density living options.
Also appearing on OIG's website is 8-10 Bourke Street, Ringwood. Currently at planning with Maroondah City Council, the three building development finds itself in an area west of Ringwood Street that is already popular with apartment developers.
Covering 8-10 Bourke Street and 1-7 Nelson Street, the application calls for a staged development with buildings of up to six levels. 119 apartments fronting Nelson Street are expected within the first stage with a further 52 apartments holding a Bourke Street address to follow.
Signifying Ringwood's growing stature as an apartment hot spot, OIG also secured 28-30 Maroondah Highway Ringwood with the prominently positioned 9,428sqm site offered for sale during 2014. Dubbed 'Gate of Ringwood' and with near on 70 metres frontage to Ringwood's premier thoroughfare, the site is likely to take three buildings with heights up to 13 levels an depicted below.
424-426 Nepean Highway, Frankston is also inline for eventual development with the 2,678sqm site in OIG's control. Currently known as Brockwood House the double storey commercial building holds three street frontages and is likely to be redeveloped into high-rise apartments in line with a number of other proposals for the bayside suburb.
