NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
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A developer has been approved for its first office project for a tower with two more storeys than preferred by the City of Boroondara council.
Samuel Property filed plans for a six-storey office project, its first foray into that sector, in Hawthorn East in August.
The preferred height limit in the planning overlay for the area is four storeys but the council was satisfied with the design options put forward by Samuel Property.
“They were comfortable to support us for additional height in light of the environmental initiatives we were proposing,” Samuel Property director Illan Samuel said.
“So we worked with them [and] we didn’t go to VCAT.
“It was a bit of a slower process but the outcome is better than going to VCAT and fighting against each other.”
The 1278sq m site at Cato Street sits in the Tooronga Commercial Precinct.
Plans designed by Cera Stribley Architects for the project comprise a six-storey office tower with several terraces including one on the rooftop
It will also have two basement levels for 60 carparking spaces and end-of-trip facilities. The ground floor will use landscaping and design to engage with pedestrians.
“We wanted to have a high-quality offering for those suburban locations,” Samuel said.
“We are giving people a reason to come into the office and having offices close to where a lot of people live so that you can incentivise staff to actually come to the office.
“It allows us to give an offering at a lower price point than in Cremorne, Abbotsford, and certainly the Melbourne CBD or South Yarra.
“So businesses that need to be in those locations and still want a new office building should be able to take advantage of the fact that our cost base on the land is lower.”
The site is bordered by Toorak, Tooronga and Auburn roads, with a two-storey office building currently on the site.
Samuel Property bought the site for $4.2 million in an off-market deal in mid-2021. Stonebridge Property sold the site to Samuel Property at a 4.5 per cent yield.
Prior to the sale in 2021, CoreLogic’s property records list a single deed transfer in January 2006.
Once completed the project will have an end value of $60 million and 5000sq m of flexible A-grade office space.
