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SOUTHBANK | 268-274 City Road | 55L | 187m | Residential

Mark Baljak's picture
#1

Looks like they may go with the sales scheme? if nothing else a little variety

Central Equity will build its biggest tower yet on a Southbank site it quietly acquired for $40 million this year.
The Melbourne-based builder is seeking to develop a 67-level structure with 782 flats on sites between 71-87 City Road, opposite the Eureka Tower (which contains 556 apartments in 92 levels).
One of Central Equity's blocks was until recently owned by the family who founded the Portmans clothing chain. Another was owned by businesswoman Eve Mahlab and her husband Frank, while Paul Lofitis, of Lofts Quarries, also sold his low-rise Southbank offering to Central Equity following an off-market deal managed by CBRE.
The acquisition gave the builder an enviable 2100-square-metre rectangle parcel capable of accommodating numerous towers; LK Property Group is developing a 37-level, 246-unit complex on a 972-square-metre site at 57-61 City Road.
Central Equity developed Southbank's first high-density apartment buildings but in two decades, its tallest local towers have been about 40 levels.
It has also applied to Planning Minister Richard Wynne to replace three adjoining sites between 268-274 City Road with a 60-level structure. It bought this 1431-square-metre site only in May following a campaign managed by Conquest Estate Agency. That collection of warehouses includes one leased to the Fabrique Club nightclub.
Central Equity's 67-level proposal was one of a flurry to land on Mr Wynne's desk prior to a new state levy, which, for large skyscrapers, would tax $1.30 for every $1000 spent on development costs.
Assuming a new tower costs $100 million to build, a developer has saved itself some $130,000 lodging by June 30.

Read more: http://www.smh.com.au/business/central-equity-proposes-67level-tower-opp...

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Adrian's picture

Good grief a CE tower that's over 60 levels and almost appears to look half decent - what is the world coming to !!

Maybe Eddie Kutner finally realises he can actually make more money by building them taller & better and maximising his yield - nice if he had of realised that 15 years ago ..

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Andrew's picture

You sure this is CE? It isn't 40 levels and a cloned architect drawing like most of their stuff.

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Wian's picture

67 levels would surely be over 200m ?

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Mark Baljak's picture

Haig Lane

City Rd

amenities

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3000's picture

This is CE folks, don't let the render fool you.

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db2's picture

In this picture is the "PERMIT 72 STOREYS" building the Elysium project? (54 Clarke Street)

I got to admin this part of Southbank is a bit of an urban disaster.

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Qantas743's picture

Height has been reduced to 187m and supported by CoM.

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Dean's picture

So exactly how does reducing the building to 187m (from 222m), in an area with larger towers around it, improve the outcome for the area???

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3000's picture

It doesn't. They don't seem to realise WHY Southbak is so shit. Have them walk trough there some time and they'll realise height is one of the least important things hurting Southbank.

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pdoff's picture

Surely there's good news here that we've been spared 222m of CE crap. Personally I'm glad that this will now be shorter than the neighbouring Monarch Tower which deserves to stand taller.

Moving forward, that's one of the best things to come out of the new rules IMO. CE were getting a little to comfortable submitting applications in the 200m plus space for my liking.

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Michael Berquez's picture

Do CE even have many 200+ proposals?

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pdoff's picture

From what I recall there was another one in Southbank and one in Lonsdale Street (which was rejected), so three all up. They all got lodged just prior to the interim rules announced by Wynne so the two assessed so far have been rejected / cropped for other reasons.

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Melbourne_Fragments's picture

the architect seriously couldnt do any better than wedging the heritage building between two blank slabs of cheap concrete walls, seriously?

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3000's picture

Obviously not

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Nicholas Harrison's picture

I think the design of this tower was a step up for CE and with some increased setbacks and adjustments to the way the heritage building was incorporated into teh podium it would have been a reasonable outcome.

But it looks like all that really matters is how high it is. I'm sure the a standard 160m CE box would have been approved months ago.

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3000's picture

One reasonable design doesn't excuse the shit they've put out for the past 10 or so years. But agreed, the height here isn't an issue.

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Nicholas Harrison's picture

This one has been approved.

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Nicholas Harrison's picture

Renderings of the 187m (55 level) version:

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