First look: Balwyn apartment development with links to billionaire James Packer approved
A Bawlyn apartment development that counts billionaire James Packer as one of its interested parties, has been approved.
Packer's name features in a long list of company directorships that tie him to a new $32 million apartment development in one of Melbourne's leafiest suburbs, a suburb where new apartment developments are a dime a dozen.
A tangled web of investors shows Packer's Consolidated Press International Holdings Limited investment vehicle as the ultimate holding company for Sharland Holdings, which shows an interest in the entity NPG MALEELA PTY LTD, the name on the development application.
The project will be developed by Chapter Group, with the Lefkos family name in the directorships of the main company, in a joint venture with Gersh Investment Partners.
The VCAT approval, secured in 10 days, paves the way for a three-level, Cera Stribley-designed building on a prime 3,862 sqm site at 23 Maleela Avenue, just set back from Whitehorse Road between Balwyn and Deepdene.
The design, submitted to the Boroondara Council, aims to reflect the character of Balwyn, a suburb known for its architectural diversity.
The building will include two and three-bedroom apartments, with 18 different floorplans across the 31 residences.
The two-bedroom apartments will range in size from 114 sqm to 140 sqm, while the three-bedroom apartments start at 150 sqm.
At the top end, three penthouses will span between 310 sqm and 361 sqm, each featuring three master suite bedrooms and two living rooms.
Cera Stribley Architects stated that the design takes inspiration from the surrounding area, referencing Balwyn's eclectic mix of architectural styles, including Georgian Revival, Moderne, and Tudor Revival homes.
The articulation of the building will respond directly to the adjacent residential architecture, with the southern portion of the building grounded on the highest point of the site and horizontal planes flowing northward.
Landscaping by Jack Merlo will further integrate the development with its surroundings.
The development reflects the growing demand for diverse housing in established premium suburbs like Balwyn, which has seen an influx of new and emerging apartment projects.
The development aims to offer a range of housing options, particularly for families seeking access to this coveted area.
The project continues Chapter Group’s recent successes, including their record-setting sale of a penthouse in Fitzroy for over $10 million.
