Goldfields Tops Out at Windsor as Melb Schemes Move Ahead

Residential developments across Melbourne have hit construction milestones as projects at Windsor, South Melbourne and West Melbourne move towards completion.

At Windsor, Goldfields Group said its 348-apartment build-to-rent development The Raleigh has reached structural completion.

The $350-million project at the corner of Raleigh Street and Punt Road will deliver a mix of studio, one, two and three-bedroom apartments across a 15-storey tower on the 4350sq m site.

Merricks Capital is a major funding partner on the project, and Maxcon Constructions is building it.

Goldfields managing director Marco Gattino said the group’s expansion into build-to-rent came at a time when the city needed high-quality apartment stock.

“Windsor, about 7.5km south of the Melbourne GPO, was a highly sought-after pocket of the city fringe with significant depth of demand and opportunity for growth,” Gattino said.

▲ The Raleigh will feature one of Melbourne’s largest rooftop amenity spaces for a build-to-rent development.

The Raleigh will include rooftop amenity including an infinity pool, basketball court, yoga retreat, ground-floor retail, co-working lounges and private dining rooms.

Elenberg Fraser designed the development, which is scheduled for completion in June 2026.

Goldfields acquired the site in September 2020 from aged-care provider Jewish Care Victoria for $35 million before upscaling project plans in 2022.

Meanwhile, South Melbourne developer Lowe Living has topped out Emerald Place, its largest project to date and first development in the suburb.

The mixed-use development at the corner of Clarendon and York streets will include 1000sq m of ground-floor retail, two levels of premium office and six levels of apartments.

Woods Bagot designed the precinct, which will deliver 36 dual-fronted apartments ranging from 110sq m to 390sq m across two, three and four-bedroom configurations.

Development partner ICON Kajima is a joint-venture partner on the project.

▲ Husband-and-wife team Emma and Tim Lowe celebrate structural completion of their 36-apartment Emerald Place precinct.

The building will have an eight-level void to bring natural light into each tier, with environmentally sustainable features targeting a minimum 7-star NatHERs energy rating.

Landscape architect Acre has designed a “verdant botanic setting” in the internal void and vertical landscapes.

Lowe Living purchased the 2500sq m site via an on-market campaign in April 2022. Construction began in the fourth quarter of 2023.

And at West Melbourne, build-to-rent platform Novus and Japanese investor Kanden Realty & Development have broken ground on Novus on Spencer.

The 190-apartment development will rise 19 storeys on a 1683sq m site at 405-421 Spencer Street. Hamilton Marino is the builder.

Plus Architecture designed the scheme to “retain and celebrate the site’s heritage” through adaptive reuse, preserving significant elements from its former life as a bakery including the original facade, chimneys and historic brick ovens.

Novus chief executive Adam Hirst said: “Novus on Spencer marks our third addition to the Melbourne skyline … [and should] come to the market in late 2027, providing much needed supply to the apartment market at a time where it has never been more important”.

▲ The former bakery on Spencer and Batman streets will be transformed into a build-to-rent community with ground-floor retail.

The development will include around 1500sq m of indoor and outdoor amenity, including a gym, pool, wellness area with sauna, steam room and ice plunge, co-working spaces and ground-floor retail.

Kanden director Masaki Toyooka said Novus on Spencer was the company’s first direct investment into the Australian build-to-rent market.