Sterling Global’s $520 million Collins Street hotel and apartment development approved
Sterling Global received the green light for its $520 million residential and lifestyle hotel development at 623 Collins Street in Melbourne's CBD from the Victorian Department of Transport and Planning.
Strategically located at the intersection of Collins and Spencer Streets, the 42-level mixed-use tower has been designed by Carr Architects and will home 175 apartments above a 229-room hotel that will occupy the heritage podium levels.
There will also be 2,717 sqm of commercial space.
The hotel will also include a fine dining restaurant, enhancing the lifestyle offerings for local workers, residents, and travellers.
623 Collins Street will uniquely integrate modern architecture with historical elements, thanks to the collaboration with heritage consultants Lovell Chen.
The upper levels of the tower are set back to preserve the original facades of the 1923 State Savings Bank, which will be meticulously restored and refurbished.
Scheduled to launch on the market in early 2025, with construction commencing next year, the project is anticipated to reach practical completion by early 2028.
This significant undertaking is part of Sterling Global’s expansive development portfolio, now valued at over $1.6 billion, which includes a variety of commercial, retail, residential, and land assets.
Sterling Global's other current projects include the luxury residential Como Terraces in South Yarra and the urban infill project Talbot Village in Melbourne’s southeast.