EG Plots 134-Apartment Tower for Yarra River Site

EG Funds Management is planning a 134-apartment tower in inner-city Melbourne on the site of the former headquarters of Icon construction.

The property investors has field plans with City of Yarra for the 15-storey development next to the Yarra River at 675 Victoria Street, Abbortsford.

The site and its two-storey office building were purchased in May 2021 for $27.3 million.

It was described at the time as “well-located in a high-quality precinct that has experienced gentrification and significant renewal in recent years”.

The plans designed by SJB for the 3495sq m site include a ground-floor office, community space to be operated by the Little BIG Foundation, apartments and two levels of basement parking.

The viewline to the landmark Skipping Girl Vinegar sign was required in the plans. There is pedestrian access to the Main Yarra Trail planned for the western boundary of the site.

▲ A render of the front entrance to the Yarra River pedestrian link and basement parking, designed by SJB.

SJB architects said Abbortsford was a Melbourne microcosm, and that their design reflected the water, rock formations and local character. 

“Bounded by the Yarra River and two of Melbourne’s busiest streets Victoria and Hoddle, it is one of Melbourne’s most significant activity centres, and a major destination for shopping and hospitality,” the application said.

“The project’s palette and materiality is driven by the Abbortsford’s natural reserve and built heritage to deepen the connection with the area’s rich history.”

Abbortsford is a hot spot for developers with several sites, including the Skipping Girl site, selling for around the $20 million-mark in the past few years.

Most recently the former headquarters of Kodak changed hands for $19 million with self storage plans on the cards by Howzit My China’s Gayle and Carl Sachs.

Amber Property Group jumped on 422-430 Johnston Street lodging plans for an eight-storey office in October.

Medley Property Group was banking on the rapidly changing landscape with its three, eight-storey building plans for 10-32 Duke Street.

Similar plans were lodged on Kyriakos (Ken) Skoullos’ 329 Johnston Street site.