VIC Development News
HICKORY, MAXCAP PLOT PBSA SWAP FOR BOURKE STREET TOWER
Author: Marisa
Wikramanayake Urban Developer
A render of the previously planned office tower on the Little Bourke Street site.
More student accommodation could pop up in the heart of Melbourne’s CBD as two property industry heavyweights file amendments to a planning permit with the City of Melbourne.
storage spaces. The student accommodation would comprise 680 studios, and 96 two-bedroom and 120 six- bedroom clusters. CoreLogic property data shows that the site last changed hands in July, 2019 for $13 million with settlement in July, 2020. Argo Group had in 2022 planned an office tower designed by Fender Katsalidis for the site. As the proposed project is now under 82m high, the City of Melbourne is the relevant authority for planning decisions. The plans are now on exhibition. A heritage overlay was applied to one of the buildings on the site, the Great Western Hotel, in September 2022 but this was after the initial planning permit had been issued in July 2020, allowing the demolition of buildings on the site save for two facades.
Hickory and MaxCap Group have joined forces for the planning permit amendment for a 1320sq m corner site at 570-576 Little Bourke Street. The amendment would change the use of the proposed mixed-use development for the site, listed under its other address of 204-232 King Street, to purpose-built student accommodation. The amendment also proposes reducing the gross floor area to 24,794 square metres. Council records show that the estimated cost of development for the current permit was $95 million while the new plans are estimated to cost $135 million. Nettleton Tribe Architects designed the new project that comprises 896 student beds over 24 storeys. There would also be a 429sq m pub, 24sq m of retail space and a 86sq m arcade on the ground floor with bicycle storage and a basement level. In lieu of a bicycle share scheme, Hickory and MaxCap have agreed that there should be one bicycle storage space per student. The plans list 153 bicycle
50 – September / October 2024
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