Willowstone Capital Files Mixed-Use Plans for Melbourne’s South-East

Michael Skala’s Willowstone Capital has filed plans for a mixed-use project in one of Melbourne’s south-eastern suburbs.

The six-storey project planned for 274-284 High Street in Windsor includes a heritage building on the site being restored and adapted to house retail spaces, while a new building would have 36 apartments plus retail.

Those apartments would be 14 one, 14 two and 8 three-bedroom configuratiuons.

A basement car park is also part of the plans by Warren and Mahoney and incorporate 33 car parking spaces.

The plans submitted to the City of Stonnington list Willowstone Capital and Michael Skala as the client and an estimated development cost of $16 million.

Located 5km south-east of the Melbourne CBD, the site encompasses  two lots and is close to the popular Chapel Street. 

Corelogic property records show that the 408sq m site at 284 High Street was last sold in April 2021 for $2.5 million.

Title deeds submitted as part of the application show that High Street HoldCo Pty Ltd took over as proprietor of 284 High Street in September 2021 when Corelogic’s records show the sale was settled.

▲ The heritage building on the site will be restored and adapted to host retail spaces while the new building will contain the apartments.

The same happened with the 1330sq m site at 274 High Street which according to Corelogic was sold in June 2021 and settled in June 2022 for $6.3 million.

Settlement dates were confirmed by the title deeds for 274 High Street which again lists High Street HoldCo Pty Ltd.

ASIC records show that High Street HoldCo Pty Ltd’s ultimate holding company is IDA Group Holdings Pty Ltd. Shares in High Street HoldCo Pty Ltd are wholly owned by IDA Property Partners Pty Ltd.

Adam Peter Kaye, Joshua Robert Louis Skala and Jeremy Simon Hillery Urbach are listed as directors of High Street HoldCo Pty Ltd.

Kaye is also a managing director at IDA which is a real estate investment and finance group based in Melbourne that specialises in property.  Joshua Skala is vice president at Citi while Urbach is chief financial officer at IDA.

Interest in Windsor is growing with Goldfields recently filing amended plans for a build-to-rent project in the suburb.