Lowe Living Scoops Up Prime Bayside Development Sites

Melbourne’s property development market lacks the buoyancy of other states right now, making it “a harder place to develop at this very point in time”. That's the view Lowe Living co-founder Tim Lowe shared with The Urban Developer as the developer and builder revealed plans for two significant acquisitions, at St Kilda West and Hampton. Its buys further expand its foothold in Melbourne’s inner south-east but represents more than just another development opportunity—it’s evidence that even in Melbourne’s challenging property market, there’s room for growth if you know where to look. The 1200sq m site at 364-366 Beaconsfield Parade, St Kilda West, 5km south of Melbourne’s CBD, was acquired off-market in June of 2024. Planned are 19 high-end residences with an end value of $65 million. Lowe Living co-founder and managing director Emma Lowe said “opportunities like Beaconsfield Parade are extraordinarily rare in St Kilda West”. Award-winning architecture firm Jackson Clement Burrows, fresh from its acclaimed St Kilda Pier redevelopment, will design the project alongside interior designer Brahman Perera. The site’s views of Port Phillip Bay and the city skyline are protected by caveats preventing obstruction from future developments. The Beaconsfield Parade project incorporates elements from the area’s architectural heritage, including reverse arches as seen in neighbouring buildings of the 1960s and 1970s. “Historically, a lot of those buildings didn’t seem to have the same synergies with the view or the water,” Lowe. “For us, it’s about responding to the harshness of the coastal environment while having really solid balustrades with great landscaping and privacy, but behind that, a sheer volume of glazing that allows you to access sight lines from anywhere in the home.” ▲ A render of the block slated for the Beaconsfield Parade site. The second acquisition is a 2800sq m consolidated site comprising three properties at 31-35 Alicia Street at Hampton, 15km south of Melbourne’s CBD. Lowe said one property went to market, leading to negotiations for two neighbouring investment properties owned by the same vendor. The Cera Stribley-designed development planned for that site would deliver 32 permit-approved residences with an estimated value of $75 million. Both developments target a specific demographic: predominantly cash buyers over 50 who are downsizing from their principal residence, Lowe said. However, the design approach varies by location. “St Kilda West would be slightly more edgy and moodier than our design approach at Hampton, which would be more coastal and conservative,” Lowe said. “Beaconsfield Parade is one that allows us to sort of stretch the brand a little bit more in that market. We love St Kilda. We’d love to add value to that area.” ▲ The Alicia Street acquisition is the company’s third project at Hampton. The developments target the luxury market in Melbourne’s inner south-east, where Lowe Living has established developments across Hampton, Sandringham, Brighton, and Black Rock. Lowe plans to “continue expanding our presence across Melbourne’s bayside, an area we know intimately and are passionate about”. “Tough times forces you to double down on what you do well,” Lowe said. “We know the Bayside market well. We know the clientele, we have a strong buyer database and following. “We also understand the ground conditions, how to build, local planning permit structures, and how to interface with neighbours.” This strategy has helped Lowe Living expand its development pipeline to $770 million across multiple Bayside projects. ▲ Lowe Living co-founders Emma Lowe and Tim Lowe at the Alicia Street site. Lowe’s focus on known markets and proven approaches appears to be working. “We’re selling apartments, but we’re not selling them at the rate that we used to sell them,” he said. “People need to be able to relate to what you’re providing. With high-end luxury products, the owner occupiers who want to be serviced well—you can’t just say you do that; you have to prove it. “You must provide the resource, you must service the client, you have to get the product right and deliver on it. At least that’s what works for us.” Lowe Living also has some urban renewal projects on the go, such as its Parkdale Hospital conversion . Lowe said the company is planning on rejuvenating more underutilised assets, like its South Melbourne project where it’s converting commercial space to residential use .

Lowe Living Scoops Up Prime Bayside Development Sites

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