New Melbourne landmark, UNO, tops out at 210 meters

27 February 2023

Melbourne’s new golden residential tower, UNO Melbourne, has reached an exciting construction milestone, topping out at 65 storeys. Standing 210 meters tall in the city’s CBD, between Flagstaff Gardens and Carlton Gardens, with proximity to the iconic Queen Victoria Market, and Melbourne’s major shopping precinct.

Located on the vibrant 119 A’Beckett Street, UNO Melbourne has been developed by SP Setia, de- signed by well-renowned architect Elenberg Fraser, and built by Roberts Co and with its floor-to-ceil- ing shimmering golden glass façade it is set to become an outstanding addition on the city’s skyline.

Colliers Residential Victoria manages the project’s sales and has already sold about 88% of the 635 apartments, with the first stage of settlements having taken place in December 2022.

Brett Griffith, Director at Colliers Residential Victoria, said the UNO Melbourne apartments have been in high demand, with sales predominantly secured by foreigners, located both overseas and those already settled in Melbourne, looking to either invest or occupy themselves.

The pool of international buyers abruptly haltered when the pandemic hit the world, but in the past months, we have seen the confidence of international buyers return close to pre-pandemic levels who see the value of the property market in Australia. With Melbourne having been named Australia’s best destination for international students and rated as one of the leading destinations for learning and higher education in the world, UNO is likely to attract many students being located within walking distance to the University of Melbourne and RMIT University,” Mr Griffith added.

Experienced developer SP Setia has successfully delivered various landmark projects to Melbourne’s skyline and knows what attracts the international buyer pool, having recently completed construc- tion of their Sapphire by The Gardens in the north eastern part of the CBD.

There’s currently a scarcity of high-quality apartments in central CBD locations with UNO Mel- bourne being one of the last opportunities to secure an apartment on a desirable CBD address.”

‘With rising construction costs, we see UNO Melbourne as an excellent opportunity for buyers to purchase and invest into a quality brand new apartment at pre-pandemic construction pricing,’” S P Setia’s (Melbourne) Director, See Hunt Soon added.

Future residents of UNO will be able to enjoy a range of services and amenities, including a welcom- ing lobby, concierge and retail stores on ground-floor, a private dining area with teppanyaki facilities, a resident’s lounge, breakout rooms and media room on level one. Wellness facilities on level nine include a yoga studio, gymnasium, outdoor entertainment and BBQ area, steam room, spa and swimming pool.

“UNO’s prime location and high-end lifestyle offering with a range of hotel-style amenities and ser- vices available to residents, have been particular drawcards for internationals who are also seeing an opportunity to invest in Melbourne’s property market as rents are anticipated to continue to in- crease during 2023,” added Colliers’ Mr Griffith.

Roberts Co CEO, Matt Bourne said reaching this critical milestone was a particularly important for the company following the acquisition of the project in April 2022.

“Celebrating the topping out is testament to our Victorian team who have continued to push through challenging conditions since the build commenced in 2020. I would like to thank SP Setia for their ongoing trust of Roberts Co and look forward to reaching practical completion in the coming months.”

The limited number of one, two and three bedrooms currently available ranges from $644,000, with stage two of the project aimed for settlement in September 2023.