The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
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
OfficeMon 22 Jan 18

Impact Investment Group Granted Approval for Kensington Woolstores

55a97068-eb1b-4e4b-b2cc-c5c581e7e893

Melbourne-based syndicator Impact Investment Group has been given the green light to develop the first stage of its Younghusband precinct in Kensington, in Melbourne’s inner west.

The Liberman family-backed group will redevelop the heritage site into a commercial precinct with co-working spaces, “co-warehousing and creative spaces for artisans”.

The site houses two 19th century brick buildings, with two neighbouring properties, dating back to 1906.

IIG purchased the Younghusband buildings in December 2016 for $30.25 million on a 1.5-hectare parcel of land. The buildings were leased to a range of tenants including Fox Creative Spaces, on a 5 per cent yield, with approximately 30,000 square meters of lettable area.

Stage 1 is the first of three stages and includes more than 17,000 square metres of commercial space. The redevelopment includes the rejuvenation of the iconic heritage red-brick woolstore and the adaptive reuse of services, offices, shops, studios and suites.

IIG engaged Woods Bagot to create a master plan for developing the site into a major hub of commercial, creative and entrepreneurial activity, targeting an energy and water neutral site.

Leasing of the first stage has commenced and IIG will also work towards retaining the diverse mix of existing tenants where possible.

IIG hired the planners who worked on the masterplan for the City of Melbourne's Arden Macauley precinct for its own masterplan – the project is less than 1km from the planned Arden metro station.

[Related reading: Centuria Buys TAC Building for $115m from Impact Investment Group]

IIG has more than $730 million in assets under management.

OfficeAustraliaBrisbaneArchitectureSector
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Sydney developer is pushing ahead with a project it picked up following the collapse of Dyldam in 2020....
LATEST
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/impact-investment-group-granted-approval-for-kensington-woolstores