MAB Corp Flags Office-to-Apartments Swap at Docklands

Michael and Andrew Buxton’s MAB Corp wants to swap out office space for residential in one of the towers at the NewQuay precinct in Melbourne’s Docklands. 

The developer is one of two partnering with Development Victoria to build residential towers and other buildings in the precinct.

An application has now been filed with the City of Melbourne Council to amend the plans for a 24-storey tower on a substantial site at 473-505 Docklands Drive that has been divided into several lots.

The application filed seeks to change the planning permit for the tower on the 2270sq m Lot H.

A MAB Corp spokesperson said the changes were prompted by changing market conditions, including rising demand for housing at Docklands.

“We have submitted a planning permit amendment ... including converting commercial space into additional residential apartments and modernising the podium facade,” the spokesperson said. 

The office space conversion would create eight additional apartments and five more one-bedroom apartments on floors 11-15.

That change would bring the total number of apartments from 196 to 209. 

Also proposed is replacing a glass block facade on the north-east corner on the first, second, third and fourth floors with a precast podium facade. 

▲ MAB Corp said the proposed changes were a response to increased demand in Docklands for housing.

Other notable projects by MAB Corp include a five-tower mixed-use project also on Docklands Drive and the Escala project on the same site. 

“MAB is currently preparing for the launch of its first new residential project in seven years at NewQuay Docklands in 2025,” the spokesperson said. 

MAB Corporation was founded in 1995. The Buxton brothers are fifth-generation property developers—J.R. Buxton founded a real estate agency in 1861.

Development Victoria was set up in the 1990s to oversee development in Melbourne’s Docklands.

This led to the suburb being divided into multiple precincts and Development Victoria partnering with several developers to create housing, offices and retail buildings. 

Development Victoria owns the site.