The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
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
6
print
Print
ResidentialRalph NicholsonMon 08 Aug 22

Roberts Co Wins $235m Footscray Towers Project

Sydney-based construction company Roberts Co is to make a further foray into the Victorian market with a contract for 700 build-to-rent apartments in Melbourne’s inner west.

Commercial real estate company Investa has partnered with the Oxford Property Group to award Roberts Co the $235-million contract in McNab Avenue, Footscray.

Collapsed building giant Probuild first tendered for the contract to raise three buildings at 19 storeys, 16 storeys and eight storeys before going into administration.

“It was a live tender while [Probuild] were in administration,” Roberts Co’s pre-construction director Andrew La Rocca, who worked for Probuild at the time, said.

“We priced it in December last year, it was our first pricing submission. We were shortlisted down to two, and then we went into administration while we were shortlisted,” La Rocca said.

“We were still allowed by Investa to put in our best and final offer as Probuild under administration, knowing that there was a pending transaction with Roberts Co.

“So we originally tended it as Probuild but we've secured it as Roberts Co.”

The development, which is expected to begin construction in October, will include 702 apartments, 275 carparking spaces, a gymnasium, co-working space, private dining, lounge and games area, as well as a rooftop basketball court.

“This contract cements Roberts Co’s place in the Melbourne market and builds on the company’s strong heritage and experience in the residential and build-to-rent (BtR) sectors,” Roberts Co’s Victorian managing director Luke Stambolis said.

“We are excited to be partnering with Investa for the first time to bring this precinct to life and contribute to the vibrant community feel of Footscray.”

It is Investa’s first build-to-rent project under its partnership with Oxford Property Group.

Man in mask walks past Probuild sign in city street.
▲ Probuild went into administration while they were shortlisted for the Footscray apartments.

Probuild, one of Australia’s biggest construction companies, collapsed late in February when its Johannesburg-listed majority owner, Wilson Bayly Holmes-Ovcon, said it would no longer provide financial assistance to the construction firm, and called in administrators.

Roberts Co then acquired much of Probuild’s liabilities when it took over the company’s five Melbourne projects, using the opportunity to take a sizeable chunk of the Victorian market.

It is understood the Footscray build-to-rent development will be Roberts Co’s sixth project in the state.

La Rocca said at peak the site would employ about 300 people, but conceded rising construction costs remained an issue.

“Of course, it's difficult,” he said. “There are increasing costs at the moment across various different building components and materials,” he said.

“So, without going into too much detail about the arrangements on this particular contract, we have put some mechanisms in place.

“The client has a few things that they need to do to get the job started on site,” La Rocca said. “But if those things don’t fall into line, and if we don't start in October, there are provisions that flow off that, we can reassess certain components of it.”

ResidentialMelbourneAustraliaSector
AUTHOR
Ralph Nicholson
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Sydney developer is pushing ahead with a project it picked up following the collapse of Dyldam in 2020....
LATEST
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/roberts-co-fitzroy-build-to-rent-probuild