Take it to the Bank: South Melbourne's latest tower on show

It endured as a paper design for years, but now a new scheme is on show for 41-49 Bank Street, South Melbourne.

Initial overtones of development for the site landed with Port Phillip during 2009, but amounted to nothing even though the project was marketed at one stage as Aero Apartments. Enter Virgate Property (Bank Street) Pty Ltd who are driving the current bid to transform the plot into a substantial residential tower.

Moved on during 2016, 41-49 Bank Street's sale at the hand of CBRE City Sales was reportedly to Chinese developer Guangdong Carrington Real Estate Group, with the previous permit for a 16-level tower of 180 apartments in tow.

Their local development arm, Virgate Property Group, is now pushing for a tower of 19 levels and 174 apartments.

41-49 Bank Street application summary

Bank Street perspective. Planning image: Bruce Henderson Architects
  • 1,441sqm holding with in excess of 60 metres of frontage
  • Currently a tri-level commercial building
  • Proposed 19 level tower at 59.7m
  • 174 apartments: 37 x 1BR, 11 x 1BR+S, 126 x 2BR
  • Apartment sizes: 46-82sqm
  • Common areas on Levels 5 and 6
  • Basement and above ground provisions for 124 vehicles & 58 bicycles
  • 2 retail premises of 106sqm and 55sqm

Planning & Property Partners are guiding the Bruce Henderson Architects-designed tower through the planning process.

The tower itself features strong vertical elements by way of white metal slats set over silver, grey and dark grey glass. The main north elevation of the proposed tower is dominated by the slats, save for a few sections of unobscured glazing, including an architectural feature within the podium which houses the development's gym. 

Having taken on a modest apartment project in Mont Albert, 41-49 Bank Street represents Virgate Property Group's first Melbourne highrise, although it's certainly not the area's first. Wedged between Dorcas Street and Park Street, 41-49 Bank Street is in the middle of a mushrooming precinct that spreads across Southbank and South Melbourne.

41-49 Bank Street is surrounded by a very healthy number of residential towers (from planning to construction) with 14 listed within the Urban Melbourne Project Database in the immediately surrounding blocks.

Views from the site. Image: CBRE City Sales

41-49 Bank Street development team

  • Developer: Virgatee Property Group
  • Application Plans: Bruce Henderson Architects
  • Planning: Planning & Property Partners
  • Sustainable Management Plan: ADP Consulting
  • Daylight Assessment Report: ADP Consulting
  • Waste Management Plan: One Mile Grid
  • Transport Impact Assessment: One Mile Grid

1 comment

3000's picture

Sensible outcome.

Back to top

Development & Planning

Monday, February 26, 2018 - 00:00
Melbourne Airport owner Asia Pacific Airports Corporation (APAC) is facilitating a new hotel development on airport land that will see two new operators take up a combined 464 suites. In documents that are available for public viewing , APAC has identified Novotel and Ibis as likely operators of the 4-4.5-star hotels.

Policy, Culture & Opinion

Friday, February 2, 2018 - 00:00
Gamuda Land is set to unveil an impressive collection of artwork for the soon to be completed 661 Chapel St development in South Yarra. Andy Dinan, Director of Mars Gallery which is renowned for exhibiting and promoting contemporary Australian artists, has been invited to specially curate the art collection throughout the development; included will be some of Australia’s most collected artists.

Visual Melbourne

Monday, February 5, 2018 - 12:00
The various spaces and elements which combine to form RMIT's New Academic Street (NAS) have progressively begun to open to students and visitors alike. I was recently fortunate enough to be part of an informal group tour through the completed spaces within NAS, led by Harrison and White which had a hand in the project.

Transport & Design

Wednesday, February 21, 2018 - 07:01
As part of its $88 million redevelopment, the State Library of Victoria (SLV) is providing Victorian apprentices, trainees and cadets with the opportunity to help with its transformation as part of its Vision 2020. The expansive project will create additional space for public use, restore and reopen the Ian Potter Queen’s Hall, and reinstate the historic Russell Street entrance.

Sustainability & Environment

Thursday, February 15, 2018 - 12:00
One of the world’s more unique International design competitions - The Land Art Generator Initiative (LAGI) 2018 - has come to Melbourne. Sponsored by the State Government of Victoria, the competition opened in early January but was officially launched on Saturday, Feb 10 th as part of the Sustainable Living Festival, Melbourne.