A large-scale residential development site in Melbourne’s city fringe has been listed for sale with leading agency Savills.
Located at 596 St Kilda Road, Melbourne, the property is set to test developer demand and includes a permit for a 19-level tower, presenting the opportunity to enter Melbourne’s foremost luxury apartment market.
The approved project features 101 luxury residences comprising a mix of one, two and three bedroom configurations as well as premium four-bedroom penthouses. St Kilda Road’s most impressive aspects can be seen through uninterrupted views to the eastern suburbs, a rare attribute for properties on this side of the corridor, as well as sweeping views towards Albert Park Lake and Port Phillip Bay.
“This will test appetite for large-scale residential development projects in the current market and within this prestigious development precinct,” said Savills Director Julian Heatherich, who is appointed to sell the property with colleague Benson Zhou and conjunctional agents Kieran Bourke and Beau Coulter of Burgess Rawson.
“In a class of its own, this location presents unrivalled landmarks in every direction, a short walk south to the eclectic lifestyle amenity of the St Kilda Foreshore, east to Fawkner Park and the Chapel Street retail precinct, west to Albert Park Lake and a short tram ride north to Melbourne’s CBD,” said Mr. Heatherich.
The project features an array of premium resident amenities including a pool, gym, wine room and landscaped outdoor spaces at ground level. A communal rooftop terrace will provide incredible panoramic views from the outdoor lounge areas plus a spa, kitchen, and dining room.
“596 St Kilda Road is situated within Melbourne’s finest lifestyle area on the tree-lined gateway to the CBD. The property is surrounded by popular retail strips, parks and gardens, and is well connected to transport and world-class education facilities,” stated Mr. Heatherich.
Australia’s famous St Kilda Road boulevard is continuing to develop into a mixed-use precinct and is home to some of Melbourne’s most luxurious and prestigious developments. Nearby ultra-luxury apartment projects scheduled for completion in 2023 include ‘The Muse’ by Devitt Property and ‘Neue Grand’ by Growland, known for its unique sky garages.
596 St Kilda Road, Melbourne is for sale by Expressions of Interest closing Wednesday 3 August at 2pm.
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