Launch Alert: Office to apartment trend sees new supply come to South Melbourne
A major discussion being had across Australia's largest capitals is the conversion of office buildings to residential apartments.
The majority of those conversations are about how to redevelop currently established office buildings into apartments to cure the supply shortage in Australia. Not many are being altered at the development application stage.
Busy diversified developer APH Holding, who has residential projects in Box Hill, Deepdene and Hawthorn, as well as several hospitality and retail developments, is seeking to change up their approved South Melbourne mixed-use development at 61-65 Palmerston Crescent which was approved for over 2,000 sqm of office space, 200 sqm of retail, and a 250 sqm communal rooftop terrace.
Having secured the prized 620 sqm site in late 2022, one of the last undeveloped sites on Palmerston Crecent, APH is seeking to now develop a luxury apartment building with just 13 residences.
Located just off Albert Park and next door to Fortis's recently completed office development, the building, dubbed 65 Palmerston, will have just half and full-floor units designed by Elenberg Fraser.
They say 65 Palmerston "prioritises how the interiors will be occupied, directing outlooks and shaping privacy."
The lobby transitions residents from the busy street to their private homes. With large glass walls that emphasise space and offer views of the surroundings, the lobby also doubles as an art gallery showcasing local contemporary art.
A temperature-controlled wine cellar with backlit walls of wine greets residents upon entry leading to a generous living area that opens onto north-facing balconies with panoramic city skyline views.
The kitchens are designed for entertaining, equipped with a range of high-end appliances discreetly integrated behind custom joinery and connected to a butler's pantry.
The master suite has its own external entry and features a double-size dressing room and an ensuite.
The project stands out not only for its premium design and amenities but also for its strategic location, providing residents with unparalleled access to parks, gardens, and Melbourne's world-class cultural and sports precincts.
The development's prime location in South Melbourne, bordering the Domain Precinct, ensures residents can enjoy the proximity to iconic landmarks such as the Royal Botanic Gardens, Melbourne’s Arts & Cultural Precinct, and Albert Park Lake.
Construction of 65 Palmerston is expected to start soon.