Five Level Mixed Use Development
Rathmines Investments Pty Ltd
The subject property is a 3,687 m2 mixed use development site located at Collingwood, two kilometres from Melbourne CBD. The site is well situated in close proximity to several modes of transport, shopping and entertainment.
The proposed development is for the construction of a part five level mixed use development. The building will essentially be of a contemporary style and design, although incorporating the existing Islington Street facade and therefore blending a combination of older style and modern contemporary architecture, a popular design feature, particularly within the urban localities where planning policies promote retention of older style influences.
Although a mixed use concept, the development will mainly be residential, comprising a total of 90 standard studio, single and two bedroom apartments, most with attached balcony. The configuration being 1x studio, 73 x 1 bedroom units and 16 x 2 bedroom units. In addition, there will be seven two storey home office style suites extending along the Islington Street frontage, increasing the total number of apartments to 97.
Extending along the Hoddle Street frontage will be three mezzanine style office/showrooms together with a small restaurant. Carparking will be provided at ground and basement levels, incorporating 156 single and tandem spaces allocated to the residential and commercial units, the balance available for individual sale.
We were able to achieve a facility at 83% of the total project cost, which allowed the proposed development to proceed with a minimum of pre-sales.
For expert advice:
Level 3, 31 Alfred St
Sydney NSW 2000
P / 02 8916 6246
Level 30/35 Collins Street,
Melbourne VIC 3000
P/ 03 8692 0082
Level 18, 175 Eagle Street
Brisbane QLD 4001
P / 07 3041 4136
- Development Funding – What are the real property development costs involved?
- Navigate today’s commercial property market trends and overcome the pre-sales hurdle
- Our Domestic Credit Squeeze – The Perfect Storm and Opportunity for the RBA & Property Developers
- How property developers can thrive in a changing economy
- Development Finance Partners recognised as one of Australia’s most innovative and fastest growing companies