Sydney-based developer Ilya Melnikoff, managing director of Luxcon, has furthered his push into Melbourne, acquiring a site in Port Melbourne for $16.65 million.

The 1400sq m island site with four frontages at 103 Beach Street, is across the road from Station Pier, Melbourne’s main cruise ship departure terminal.

Luxcon acquired the waterfront site from Melbourne developer V-Leader, which paid $11.2 million for it in 2017.