Cbus Property announce practical completion of Melbourne apartment tower 17 Spring St
Cbus Property has announced the practical completion of its 17 Spring St residential development on the fringe of the Melbourne CBD.
Architecturally designed by Bates Smart and constructed by Hacer Group, the $300 million development occupies a 1,270 sqm site at the east end of Spring Street, formerly occupied by the Mercure Melbourne Treasury Gardens.
The 33-level tower comprises 73 two and three-bedroom apartments, as well as a handful of half and whole-floor apartments each with views overlooking the Treasury and Fitzroy Gardens.
Cbus Property’s Chief Executive Officer, Adrian Pozzo, said that 17 Spring St had set a coveted new benchmark for premium residential apartment developments in Melbourne.
“Achieving practical completion on 17 Spring St marks the momentous conclusion of a journey that began when Cbus Property acquired the site six years ago, following the success of our pioneering 35 Spring St residential project, which sold out off the plan and was completed in 2017,” Pozzo said.
“The overwhelming success of 35 Spring St, another highly esteemed venture with Bates Smart, made it clear there was significant pent-up demand for Melbourne’s premium apartment market.
“17 Spring St has certainly been an equally illustrious journey, with a number of whole-floor amalgamations and new record sales results, as we continue to experience strong owner-occupier demand for premium residences and well-placed product.”
Bates Smart Director, Cian Davis, said that 17 Spring St raised the benchmark that was 35 Spring St.
“We wanted to create a building where the interior and exterior is one fully integrated proposition, adding a timeless building design to the grandeur of Spring Street,” he said.
17 Spring St has become home to around 150 new residents who have access to a resident 25-metre pool and gymnasium on Level 2 and a private dining room, wine cellars and landscaped outdoor terrace on Level 3.
“In addition to Cbus Property’s proven track record as a developer and Bates Smart’s reputation for world-class architecture, the exclusive Spring Street location has enticed myriad buyers seeking a city lifestyle,” Pozzo added.
“At the ‘Paris end’ of the CBD, 17 Spring St has the very best of Melbourne on its doorstep, from the gardens and the sports precinct, to the theatres and the restaurants in the surrounding laneways – and all with the added bonus of convenient accessibility to getting in and out of town.
“Each residence has been designed to savour the magnificent panoramic outlook to the Treasury and Fitzroy Gardens and beyond, with living areas enjoying a strong sense of connection to the outdoors.
“The gardens will never be built out so that view will always be there, providing residents with the priceless opportunity to explore one of the state's oldest heritage-listed public gardens at their doorstep – and in the middle of Melbourne's CBD, no less.”
Victoria’s Minister for Planning, The Hon. Sonya Kilkenny MP, officially opened 17 Spring St during a private event for project stakeholders and residents recently.
Hacer Group commenced site works in December 2019 following the demolition of the former Mercure Melbourne Treasury Gardens hotel.
Cbus Property are seeking a tenant to occupy or buy the 130 sqm ground floor retail space.