Future of Esso House Plans in Minister’s Hands

Nice Future International Investments has moved along its plan to redevelop Esso House at Melbourne’s Southbank.

The developer has filed an application for consent under an incorporated document to demolish and begin early works on the site at 12 Riverbank Quay with the state department.

This application was referred to the City of Melbourne, who supported it without objection.

The decision to approve is now with Victorian planning minister Sonya Kilkenny.

Approval for the project via an incorporated document was granted in January 2020. 

Architects Hayball have designed the plans for the project, which would include a new tower and public park. 

The 1000sq m park would be designed to connect the Southbank Promenade to restaurants, shops, arts and community spaces, and office space, and is valued at $25 million. 

▲ A render of the new public park planned for 12 Riverside Quay at Southbank.

Nice Future International Investments estimates that there will be $144 million to $155 million in public benefits created as part of the project along with more than 4000 construction jobs.

Esso House was one of the first office towers to be built at Southbank with Peddle Thorp architects designing the current 15-storey tower to be fortress-like above three basement levels of parking. 

ExxonMobil sold the building to Nice Future International Investments for $160 million in December, 2016. 

ASIC records list Nice Future International Investments’ directors as Ka Hou Loi, Ka Ian Loi, Keong Kuong Loi, Maggie Loi, Peng Wong, Jack Loi and Cecilia Ho.

While the others have an address in Macau, China, listed on the records, Ho’s address is listed as Hong Kong.

Ka Hou Loi, Ka Ian Loi, Keong Kuong Loi, Maggie Loi, Jack Loi and Peng Wong are also listed as shareholders of the company with Keong Kuong Loi holding a majority of the shares.

Keong Kuong Loi owns the Rio Casino in Macau and has also purchased property on the Gold Coast, including the Soul Boardwalk retail and dining centre in December, 2018 for $90 million.

He was also part of a consortium that was keen to buy the failed $1.3-billion Gold Coast project Spirit in 2019 when developer Forise was unable to continue the project.

The Urban Developer contacted Nice Future International Investments for comment.