Vic Planning Minister approves tallest building in southern hemisphere

In an historic day for the Victorian development industry, planning minister Matthew Guy has approved a 108-storey apartment and hotel tower in Melbourne’s CBD – the tallest ever proposed in the city.

The proposed tower, known as

Australia 108, will feature 664 apartments and 288 rooms in a six star hotel, and soar 388 metres above ground level, giving it the title of the tallest building in the southern hemisphere. If delivered, Australia 108 will eclipse Melbourne’s Eureka Tower and the Gold Coast’s Q1 buildings.

Minister Guy, who came under scrutiny during the planning process due to claims the building would overshadow the Shrine of Remembrance, issued a press release later hailing the proposed development.

"I am proud to approve a tower that will define our city for many years to come and which I am sure will become as iconic a Melbourne landmark as Flinders Street Station or Federation Square," he said.

"The Australia 108 mixed-use tower will be an icon both visually and for those who will live in it, stay at its hotel, dine at the level 84 Sky Lounge or visit the level 108 Star Bar.

"Towers such as Australia 108 are consistent with the Coalition Government's drive to concentrate high-density development in defined areas and out of existing, quiet neighbourhoods.

"Every apartment in this tower is one less apartment in an existing quiet neighbourhood."

According to

The Age,

a consortium of private investors including Nonda Katsalidis, Benni Aroni, Adrian Valmorbida, Ian Fayman, Gary Caulfield and Mark Hopkinson are behind the development of the project.

The $600m tower will feature one bedroom apartments on Levels 12-39 and 41-65 priced from $425,000 and two bedroom apartments from $575,000.

A selection of three bedroom apartments will be available from levels 66-78 from $775,000 along with an exclusive offering of penthouse apartments.

It has also been revealed that the 388 metre tower will use prefabricated structural sections developed by Nonda Katsalidis’ construction company to deliver the tower in record time.

”We’re going to fabricate components so that the building will be pre-assembled on the ground,” he told Fairfax Media in November 2012.

”This means that the building will be built faster than any similar building has been built in this country before,” he said.