The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
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
print
Print
RetailStaff WriterMon 29 Aug 16

SP Setia Announces Plans For Telstra Site

Telstracorporatecentre_620x380

Malaysian developer SP Setia has lodged plans for a $640 million twin tower project in central Melbourne on a site it purchased from Telstra, according to The Australian Financial Review.

The two towers will reach 69 storeys on Exhibition Street, across 122,000 sqm, and are designed by architect firms Cox and Fender Katsalidis.

500 apartments and 520 hotel rooms will be spread across the buildings according to plans lodged with the state government.

Hotel facilities including restaurants and bars are included in the plan along with retail space, a ballroom, and function space. The proposal includes a 1370sq m childcare facility along with a yoga studio and pool facilities.

SP Setia acquired the high-profile site at 308 Exhibition Street - which features frontages to Exhibition and La Trobe Streets - from Telstra in May for $101 million after the telco abandoned its own ambitious plan to develop an $800 million-plus tower, according to AFR. 

The 4140sq m site was carved out of a larger holding controlled by Telstra.

SP Setia has said it plans to launch its Exhibition Street project in the second half of 2017. It estimates its gross development value will be $640 million.


Just days ago SP Setia Bhd bagged the ‘Best Employer’ award for the seventh time at the Aon Hewitt Best Employers 2016 award ceremony.

This came on top of a special recognition for its ‘Commitment to Engagement’ award.

President and chief executive officer (CEO) Datuk Khor Chap Jen said it was a huge honour for team Setia to have won the award for the seventh time.

Header image from Wikipedia 

ResidentialHotelAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
Going private means plans to focus on logistics and data centres across the Asia-Pacific region can accelerate, ESR says…
LATEST
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
3 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/sp-setia-announces-plans-telstra-site