Three years after making moves to enter the Melbourne property market, developer Woodlink is poised to realise two significant projects.
Active in southern China, Woodlink turned its attention to Melbourne three years ago with intentions of developing sites in both East Melbourne and St Kilda Road. Lodged with Port Phillip during mid 2015, 424-426 St Kilda Road's pending sales launch as Illoura House heralds another luxury residential development for the boulevard.
The Bates Smart-designed Illoura House carried a nominal development value of $155 million whilst at planning, and is a mix of private and 'executive' apartments.
Illurra House is a reference to the long-gone mansion which was built onsite circa 1889 in the Victorian Italianate style. It contained forty-six rooms and maintained a highly decorative rendered facade plus an architecturally significant ornate central tower.
The modern-day Illura House will hold significantly more rooms, split between approximately 160 apartments and a similar number of executive apartments managed by Marriott International. Colliers have been tasked with handling the apartment sales campaign.
Replacing a smaller-scale office building onsite, the intended 18 level tower will reach almost 59 metres in height and hold an approximate gross floor area of 55,500 square metres. This hefty figure makes Illura House one of the largest current residential projects in Melbourne by net sellable area.
In addition to the living spaces and various amenities, retail is included across the tower's lower levels; at planning 840 square metres of retail were sought over three tenancies.
Woodlink is also behind a second project in East Melbourne which has changed use from residential to hotel/serviced apartments.
Urban Melbourne covered the original planning application which called for lavish apartments within a 27 storey residential tower. The smallest apartment within 502 Albert Road was to have been 108 square metres, with the three bedroom apartments averaging 220 square metres and the penthouse a whopping 372 square metres.
Ultimately though the Denton Corker Marshall-designed tower was significantly reworked, and at a lower height, to include a higher number of smaller-sized apartments in line with its current purpose.
With approval granted, Woodlink anticipates construction to commence this year with a 2020 completion date targeted.