Eq. Tower - three times the power

To say Melbourne's apartment market is an attractive target for Asian based developers and institutional investment vehicles is quite the understatement these days.  Seemingly every week there's a new announcement concerning the arrival and/or ambitious expansion of Asian developers seeking their slice of the Melbourne pie.

This week is no exception with local developer ICD Property joining forces with two Hong Kong Stock Exhchange-listed entities in order to deliver a forthcoming Melbourne project - Eq. Tower.  ICD Properties website reads a follows:

ICD Property is proud to announce two joint venture partners, Sino-Ocean Land Holdings Limited and Gemini Investments (Holdings) Limited, who are investing in ICD Property’s landmark project in Melbourne’s CBD, Eq. Tower.  Gemini Investments (Holdings) Limited is a subsidiary of Sino-Ocean Land Holdings Limited which is one of China’s largest property developers.

The controlling shareholder of Sino-Ocean Land is China Life Insurance Company Limited, which is the largest life insurer in the People’s Republic of China.  Both Sino-Ocean Land and Gemini Investments are listed on the Hong Kong Stock Exchange.  ICD Property’s managing director, Michael Mai said the partnership between ICD Property, Sino-Ocean Land Holdings Limited and Gemini Investments (Holdings) Limited would maximise the strengths of each individual entity and help earn international recognition of the Australian property market.”  ICD Property is thrilled to announce Sino-Ocean Land and Gemini Investments as our new joint venture partners for Eq. Tower – our new apartment project in Melbourne’s CBD.”

By cementing an international partnership we can play to our strengths and form synergies for the joint benefit of the project, whilst at the same time we can focus on placing Australia’s property market firmly on the world stage,” he said.

Eq. Tower with the address 127-141 A'Beckett Street is located within the northern reaches of  Melbourne's CBD.  Highlighted by Urban Melbourne last year, the Elenberg Fraser design draws inspiration from Dior's Fahrenheit bottle - a detailed overview can be found here.

Perhaps the most impressive aspect of this project is the speed at which it has progressed.  Having been submitted last September for approval, many steps have since been taken in order to facilitate a public sales launch upon receiving planning approval, which includes appointing Sinclair Brook as project manager.

One would expect the addition of Sino-Ocean and Gemini Investments as joint venture partners provides surety in terms of project finance and the ability to tap a large, established customer bases in both Hong Kong and China who are willing to purchase overseas properties - both of which bode well for Eq. Tower.

Urban Melbourne has been informed that a site for registrations of interests will be launched soon.


Development & Planning

Wednesday, December 13, 2017 - 12:00
The swirl of development activity in Footscray has found another gear as new projects are submitted for approval, or are on the verge of beginning construction. Two separate planning applications have been advertised by Maribyrnong City Council; their subsequent addition to the Urban Melbourne Project Database has seen the overall number of apartment developments within Footscray in development swell to 40.

Policy, Culture & Opinion

Monday, November 20, 2017 - 12:00
The marriage of old and new can be a difficult process, particularly when the existing structure has intrinsic heritage value. In previous times Fitzroy's 237 Napier Street served as the home of furniture manufacturer C.F. Rojo and Sons. Taking root during 1887, Christobel Rojo oversaw operations though over time the site would become home to furniture manufacturer Thonet.

Visual Melbourne

Friday, August 25, 2017 - 07:00
The former site of John Batman's home, Batman's Hill is entering the final stages of its redevelopment. Collins Square's final tower has begun its skyward ascent, as has Lendlease's Melbourne Quarter Commercial and Residential precinct already. Melbourne Quarter's first stage is at construction and involves a new 12-storey home for consultancy firm Arup along with a skypark.


Transport & Design

Friday, December 15, 2017 - 11:00
Infrastructure Victoria unveiled a new round of research into its larger programme of work dealing with managing transport demand. The authority contracted Arup and KPMG to produce the Melbourne Activity Based Model (MABM) and while it is new, it is considered fit for purpose in the strategic context.

Sustainability & Environment

Tuesday, October 24, 2017 - 12:00
Cbus Property's office development for Medibank at 720 Bourke Street in Docklands recently became the first Australian existing property to receive a WELL Certification, Gold Shell and Core rating. The WELL rating goes beyond sustainable building features with a greater focus on the health and well-being of a building's occupants.