The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
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
8
print
Print
RetailTed TabetWed 11 Sep 19

Pace Picks Up $20m Fitzroy Development Site

bd9fafe1-e873-4f8e-83c7-531b18292542

Pace Development Group has purchased a retail site in Fitzroy with early plans for a mixed-use residential project at the development-ready site.

The Melbourne-based developer purchased the 2,411sq m property on the corner of Johnston Street, Gore Street and Argyle Street from a private owner for $20 million.

The developer has engaged SJB Architects to look at architectural outcomes for the site, which currently includes a sizeable retail space.

▲ Melbourne property company Pace Development Group has announced its acquisition of 223-231 Johnston Street in Fitzroy.


Pace managing director Shane Wilkinson, who first went into property as a youngster in 1992, buying a home for $113,000, before renovating it and selling it for a profit, said the group's latest development in Fitzroy would draw on 27 years of development experience.

“This latest acquisition supports our vision to see the north continue to grow and sustain Melbourne’s increasing population,” Wilkinson said.

It is understood Pace will submit its town planning permit application to Yarra City Council in later this year.

“The site is just four kilometres from the CBD and is in one of the most well-connected locations in Melbourne with great public amenity and transport,” Pace development manager Michael Holah said.

“In the early phases, Pace always works to ensure the proposed design is contextually fit, remains relevant for the local community and is done in collaboration with local council.

“We see great opportunity to deliver a mixed-use multi residential development to support the ongoing demand for inner-city housing.”

Previous projects by the developer and builder have included Pace of Carnegie, Pace of Collingwood and Pace of Abbotsford.

The group has also proposed two towers comprising 339 apartments in Coburg as well as receiving permit approval for the tallest approved towers in Macaulay, to be part of Melbourne City Council's broader vision for the regeneration of the Arden-Macaulay industrial precinct.

Dubbed the Pace of North Melbourne, the Racecourse Road site is the first in a three-stage development planned for a 1.3ha slice of industrial land owned by Pace, with two further stages currently seeking planning approval.

In Melbourne's east, Pace has plans for its 125-apartment mixed-use development in Blackburn, after purchasing the site with an existing permit for $23.85 million in 2018.

RetailMelbourneAustraliaSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Urban Infill site at Tonsley SA
Exclusive

SA Grapples with ‘Development Killer’ Carparking Law Changes

Leon Della Bosca
7 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
View All >
Vicland Property Group's St Germain retail and office hub at 505 Toorak Road in Toorak Village which they have now decided to sell.
Office

Toorak’s St Germain Expected to Fetch $200m

Marisa Wikramanayake
Hyecorp Roseville EDM
Residential

Hyecorp Reveals 259-Unit Upper North Shore Project

Clare Burnett
Residential

Gurner’s Biohacking Melbourne BtR Launches

Taryn Paris
The 41-storey South Melbourne tower leverages Gurner’s wellness brainchild Saint to deliver high-performance living and …
LATEST
Vicland Property Group's St Germain retail and office hub at 505 Toorak Road in Toorak Village which they have now decided to sell.
Office

Toorak’s St Germain Expected to Fetch $200m

Marisa Wikramanayake
2 Min
Hyecorp Roseville EDM
Residential

Hyecorp Reveals 259-Unit Upper North Shore Project

Clare Burnett
3 Min
Residential

Gurner’s Biohacking Melbourne BtR Launches

Taryn Paris
2 Min
Infrastructure

Tas Courts Plans to Repurpose 200-Year-Old Treasury

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/pace-fitzroy-development-site