The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailTed TabetTue 31 Aug 21

Fortis Adds $90m Tower Plan to Melbourne Pipeline

Fortis' plans for 8 Brighton Street in Richmond, Melbourne.

Sydney-based developer Fortis’ burgeoning Melbourne pipeline has expanded with plans for a $90-million mixed-use development in Richmond now before the council.

Fortis paid $19 million for the 1300sq m corner site at 8 Brighton Street, on the intersection of Church and Swan streets, in late 2020.

At the time, Fortis director Charles Mellick said the developer remained “confident” about city-fringe locations and was positive that the demand for office space would continue to accelerate in Melbourne, post-pandemic.

Its latest application, a mix of commercial and residential, has reaffirmed that confidence.

Fortis’ proposed 13-storey development, designed by SJB Architects, will comprise 70 apartments above 2100sq m of office space.

The mixed-use building will also offer 400sq m of ground floor retail for a cafe or restaurant above four levels of basement parking for 100 cars and 80 bicycles.

▲ The corner site will hold three street frontages. Image: SJB Architects


Despite the recent hit to Melbourne’s office sector, Richmond remains one of a number of more affordable inner-suburban office markets, alongside Cremorne, Collingwood and South Yarra.

Before the pandemic the suburb attracted a fresh wave of speculative commercial development as CBD rents soared and vacancy rates hit record lows.

At a neighbouring site, 1 Little Lesney Street, developer Little Projects has plans for 300-apartments within a 10-storey building.

In Swan Street, plans are before the council for a six-storey building at 223, and for an eight-storey building at 300-304 Swan Street.

Fortis, ​​the development arm of boutique fund manager Pallas Capital, has made a concerted push into Melbourne in recent years with more than $1 billion in projects currently under construction or in planning.

Its application in Richmond comes less than a week after the developer lodged plans for a $65-million commercial building at a site it picked up for $5 million in South Melbourne.

Nearby, at 67-69 Palmerston Crescent, the developer is also building a $38-million, nine-level office project on a site it acquired earlier this year for $8.55 million.

Meanwhile, on Thomson Street, plans for a six-level office building, with an expected end value of $27.5 million, are well advanced.

Fortis is also pushing ahead with a $47-million, seven-level, 3900sq m office building at 34 Eastern Road, a site it paid $12 million for in July.

In Cremorne, the developer has mooted plans to commence construction on a $40-million new build later this year on a 1850sq m site at 65-81 Dover Street that cost it $26.9 million.

It will have eight floors of office space, retail on the ground floor and will an end value of about $130 million.

ResidentialAustraliaMelbournePlanningPlanningSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Exclusive

Soheil Abedian: What’s Driven the Man Who’s Transformed a City

Phil Bartsch
7 Min
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
Exclusive

Where 600 Wealthy Families Are Putting Their Millions

Taryn Paris
6 Min
Brique Projects EDM
Exclusive

Brique Thrives in Cauldron of SE Queensland Development

Clare Burnett
7 Min
View All >
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
Queen's Whard EDM
Hotel

Star Back to Square One After Queens Wharf Deal Collapses

Clare Burnett
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

The super-backed developer and investor is planning a $1.1-billion precinct across the 62ha site…
LATEST
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Queen's Whard EDM
Hotel

Star Back to Square One After Queens Wharf Deal Collapses

Clare Burnett
3 Min
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

2 Min
Infrastructure

Invest Gold Coast Launches Hunt for $500m Arena Partner

Renee McKeown AND Taryn Paris
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/fortis-brighton-street-richmond-development-application