Late last year TCI Teneketzis successfully sold 420 Spencer St, a site subject to a variety of proposals whilst also attracting local residents and heritage group discontent. As billboards onsite and the agents website shows, the site has been purchased as a joint venture, increasing the likelihood that the tower in its current approved form will become reality. Early February has seen the arrival of new signage onsite showing ACC Development intend to proceed with the redevelopment soon. The currently approved design is a 32 level tower produced by Fender Katsilidis architects consisting of 432 apartments above 8 retail/commercial tenancies found through the podium which covers the approximately 2250sqm site. The 1930 art deco facade will be restored and incorporated into the tower, with internals facing demolition to allow for a 3 level basement carpark and subsequent works.
Of interest is the vacant lot addressed 404-418 Spencer St (seen above) directly south of 420 Spencer St. Given that the approved 32 level/104.6m 420 Spencer St and the proposed 41 level/134m 371 Spencer St diagonally opposite (renders below) have pushed the boundaries for height and density in the area, the vacant 404-418 Spencer St seemingly has the potential to yield another substantial tower. This vacant site was once subject to a ten level office complex designed by Rothe Lowman but as time and planning have progressed it seems a 30-40 level tower is in the offing - although that's merely speculation on the authors behalf.
Elements of the endorsed plans for 420 Spencer St are provided below
All images below taken from planning application provided by and © to Fender Katsilidis