56-storey tower set to add to city skyline

Melbourne-based property developer Salvo has notched up $150 million in pre-sales – its fastest selling project ever – for its latest development, Moray House, a striking 56-storey, 300+ residential tower in Southbank.

More than 240 apartments have already been snapped up by a range of buyers including parents purchasing apartments for their children, professionals seeking a city base, families moving back to inner Melbourne post COVID and investors.

At 180m above street level, Moray House is an imposing addition to Melbourne’s skyline. Designed by architects Rothelowman and interior designer David Hicks, the development features three podiums: the first 10 levels comprise hotel-style reception, ground floor café and bar plus eight floors of commercial office space.

It also features two floors of resort grade wellness and relaxation facilities located in the most premium parts of the building including luxury day spa, yoga and steam rooms, pool, gym and massage suite accessed by a sculptural spiral staircase. Additional amenity includes private dining rooms, outdoor BBQ areas, residents’ lounges and additional storage spaces. 

Level 10 is dedicated to state-of-the-art co-working facilities including 40 hot desks, meeting rooms, video conferencing and collaboration zones.

The mid and upper-level podiums comprise 305 apartments featuring mostly two and three bedroom configurations and two double-storey penthouse suites on the top two floors.

The residences feature uninterrupted views of the city skyline, Albert Park Lake and Port Phillip Bay, enhanced layouts, abundant natural light and full height glazing.

Salvo’s Now Generation blueprint underscores the project’s design approach to how people live, work and relax today, encompassing four pillars centred around health and wellness, connectivity, work life balance, and practical luxuries.

“Moray House characterises the shift to vertical communities where residents expect resort-style amenities that contribute to their health and wellbeing, as well as internal and external communal spaces to entertain and connect with fellow residents," said Salvo managing partner James Maitland.

He added that Southbank has matured from an urban regeneration precinct to an established suburb with world class lifestyle infrastructure.

“Moray House enjoys a prime location with a walk score of 98%. 

"Residents are an 8-minute walk to South Melbourne village and market, Albert Park Lake and MSAC, as well as Southbank’s dining and entertainment precinct. 

"A city commute also takes just a few minutes with two tram lines within 100 metres.

“We’re focused on delivering a project that elevates the standards of urban living, capitalises on the uninterrupted views of the CBD and the bay and continues to enhance the Southbank precinct," he said.

The development contributes to much needed apartment supply given more than 16,000* dwellings are required in the City of Melbourne alone over the next three years to meet demand.

Data from Charter Keck Cramer reveals only 2,600 new apartments were launched in Melbourne in 2023, the lowest in a decade**; while recent ABS data reveals apartment approvals in Victoria declined to a 17-year low***.

“We’re keen to see the right investment and planning settings that provide certainty and confidence for both developers and buyers regarding delivery of key infrastructure in urban renewal projects to enable multi-unit developments to do the heaving lifting to boost housing supply,” Maitland said.

Due for completion in 2026, the project’s two-bedroom apartments from range from $639,000 - $765,00 and three-bedroom apartments from $1,075,000.

Moray House is part of Salvo’s $3 billion development pipeline, which also includes a $1 billion 4-tower, mixed use development at Fisherman’s Bend and a $1.2 billion mixed use urban renewal project at the historic Pentridge precinct in Coburg.

Salvo has cornered the Southbank precinct over the last decade, delivering six high-density residential projects comprising almost 2,000 apartments and commercial spaces totalling $1 billion.

For more off-the-plan property news, click here.

*Urbis Apartment Essentials; City of Melbourne
**Charter Keck Cramer Melbourne Apartment Market Update & Outlook, March 2024
***ABS Building Approvals, Australia, February 2024