Fridcorp Finally Moves Ahead on Clayton Tower

It has taken three years but developer Fridcorp is finally making progress on its project in the heart of Clayton near Melbourne’s Monash University. 

Fridcorp has been granted an extension of time for its planning permission for the project at 270 Clayton Road by the City of Monash Council and is now seeking a builder.

The developer initially filed for planning permission in July, 2020 with the council granting permission in April, 2021 and a permit granted in June, 2021.

According to BCI records, the project is designed by BG Architecture and will incorporate a 15-storey building with 104 one and two-bedroom serviced apartments on a 0.139ha site about 20km south-east of the Melbourne CBD.

The gross floor area will be 26,718sq m with an additional 3638sq m of office space and 288sq m of retail space.

There will be an entry lobby, a reception, an admin office and amenities such as a conference centre, a health club, a terrace and a communal open space.

It will also have 120 carparking spaces and 73 bicycle storage spaces.

An existing office building on the site will be demolished as part of the development with construction set to start in April 2024 and end in the fourth quarter of 2025.

▲ Suburban Rail Loop Authority general manager Ludo Campbell-Reid says the project will redirect the Melbourne property market with stops at Clayton.

BCI records also list the current land owners as Metroco Pty Ltd and Avanta Pty Ltd.

It also estimates an end value for the project of $55 million.

CoreLogic property records list the site as having last changed hands in April, 1995 for $1.18 million but does not list the buyer or vendor. 

Developers are interested in Clayton due to its Monash University campus and the increased demand for student accommodation and other housing in the area. 

Demand is also high with several Suburban Rail Loop stations proposed for nearby locations with connections to the Clayton Train Station and the Pakenham/Cranbourne train line.

The Urban Developer contacted Fridcorp for comment.