Opportunity arises from a failed Digital Harbour development

The commercial sector's apparent disinterest in the western end of La Trobe Street has given rise to one of Melbourne's premier residential development sites. At the foot of Victoria Harbour, 1000 La Trobe Street has emerged as The Millennium Site, a 6,007sqm land holding with the ability to hold approximately 600 apartments.

Land owner Digital Harbour Holdings has chosen to sell the prime site following years of staggered activity within their Digital Harbour Precinct, seeking instead to capitalise upon fervent market conditions which continues to seen strong prices achieved for inner city development sites.

Selling agent Colliers International is preparing for a tide of interest from both local and international developers as The Millennium Site represents the largest single development site currently available in the City of Melbourne. The current approved commercial scheme has been superseded with the below concept, yet still allows for a total of 47,940sqm of residential living gross floor area.

Artist's impression of a revised 1000 La Trobe Street. Image courtesy Colliers

What they say

The Millennium Site forms part of Melbourne’s waterside precinct which will benefit from the redevelopment of Harbour Esplanade. Situated between Southern Cross Station, Etihad Stadium, New Quay, the waterfront, and the soon to be announced E Gate precinct, The Millennium Site will be a key element within a highly connected precinct linking the Melbourne CBD to the Docklands waterfront.

There is a tram stop on the doorstep of the site and developers will be able to capitalise on the uninterrupted water and CBD views from the upper levels of any potential future development. CBD development sites are becoming increasingly popular among developers as central CBD precincts become more tightly held.”

Melbourne as a city has a diminishing supply of prime residential development opportunities, with development sites increasingly hemmed in by adjoining buildings. Docklands is not as intensively developed on a site-by-site basis, so it is becoming increasingly desirable for residential development because there are more opportunities to optimise both built form outcomes and future view lines.

Trent Hobart, Colliers International media release

Docklands is also becoming more connected to the CBD. Whereas once Docklands was thought of as a very separate precinct, new roadways, pedestrian access and tram super stops have seen it become increasingly thought of as part of the western core of the CBD.

Bryson Cameron, Colliers International media release

All washed up

A string of commercial developments at the Docklands end of La Trobe Street have failed to materialise in recent years, much to the delight of residential developers. Subject to a low-rise commercial development, 695-699 La Trobe Street is now with Salta Properties seeking approval for a 303 apartment development while the neighbouring 685 La Trobe Street development site was sold to a residential developer following its unsuccessful commercial leasing campaign.

Diagonally opposite The Millennium Site, Chinese-aligned Capital Alliance Investment Group is delivering M Docklands, a mixed-use residential and hotel tower that backs onto Etihad Stadium. The residential prospects of The Millennium Site coupled with the five most recent development site sales in Docklands averaging $7000/sqm points to the inherent value that this emerging Docklands residential pocket holds.


chris's picture

I sure any developer would be salivating at this opportunity that the Millennium Site holds. Good luck but heads up to whom ever is going to buy it, your buying land in no man's land, just sayin .

Back to top
Rohan Storey's picture

It feels like no mans land now, but if / when all these projects get up, it will be the opposite - lined with towers, plazas, presumably some shops etc. Taken a while but.

It will be interesting when the stadium gets surrounded by towers, a most unusual situation, but that was the plan from the beginning.


Back to top

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.