Packer Consortium Files Plans for Balwyn Apartments

A consortium that includes billionaire James Packer wants to raise a residential block at the site of a former nursing home in Melbourne’s east.

The consortium has filed plans with the City of Boroondara Council proposing a three-storey building with two basement levels and 31 apartments on a 3862sq m site at 23 Maleela Avenue, Balwyn.

Cera Stribley Architects drew up the plans while Planning and Property Partners prepared the planning report. 

Under the scheme there would be four three-bedroom apartments on the lower ground floor, six three-bedroom and four two-bedroom apartments on the ground floor, and six two-bedroom and six three-bedroom apartments on the first floor.

The second floor would have two three-bedroom apartments and three four-bedroom apartments.

Communal facilities, a 96sq m communal courtyard, 262sq m residential lounge and 31 bicycle storage spaces would be on the ground floor. 

The first basement level and the lower ground basement would have 40 carparking spaces and 15 storage spaces while the second basement level would have 34 carparking spaces and seven storage spaces with two lift lobbies.

▲ The current building on the site is a three-storey building that replicates Georgian architecture.

Council records indicate that the estimated development cost for the project is $32 million.

Title deeds submitted to the council show Maleela Developments became the proprietor and owner of the site in August, 2023. 

Brookfield Asset Management made the deal to sell the site to the consortium for an undisclosed sum with title deeds indicating a mortgage to Perpetual Nominees Pty Ltd. 

It previously operated the nursing home under its Aveo brand.

ASIC records show that Packer’s private firm Consolidated Press Holdings Pty Ltd is the ultimate holding company for Sharland Holdings Pty Ltd, which along with NDVR Capital Pty Ltd is the main shareholder of NPACT Maleela Holdings Pty Ltd.

That company is a shareholder alongside NDVR Capital in NPACT Maleela Investments Pty Ltd, which in turn is a shareholder along with Gersh Fund No 1 Pty Ltd in NPG Maleela Pty Ltd.

NPG Maleela and CG Maleela Avenue Pty Ltd are the two main shareholders of Maleela Developments Pty Ltd. 

Theodore James Axarlis, Constantine Arcadios Lefkos, William Todd Nisbet and Cameron Charles Lynch are listed as directors of Maleela Developments with Lynch and Lefkos as directors of CG Maleela Avenue.

Joseph Israel Gersh, Lawrence Myers, Axarlis and Nisbet are listed as directors of NPG Maleela with Michael Roy Johnston, Myers and Nisbet directors of NPACT Maleela Investments and NPACT Maleela Holdings with Catherine Elizabeth Davies as the secretary for the latter.

Davies and Myers are listed as the directors for Sharland Holdings and Nisbet as sole director for NDVR Capital.

Nisbet, executive vice-president, strategy and development at Crown Resorts, is a former colleague of Packer.

The application is being advertised before a decision by the City of Boroondara.