85 Spring St Selling

Market Insights
8 years ago
3 minutes

Colliers International has commenced the sale of apartments for Grocon’s 85 Spring Street development, at the heart of Spring Street, after the developer secured a planning permit.  

85 Spring Street is set to contain 183 apartments over 39 floors, with interior spaces designed by Kerry Phelan at KPDO. 

The building will boast views to the east over Treasury Gardens, north over Parliament House and Melbourne’s Exhibition Buildings, south east to the MCG and Yarra Park and south over the city to the bay beyond.  

“This project and its location represent an exceptional opportunity,” Tim Storey, Colliers International Managing Director of Residential, said. “The building has been designed to positively contribute to Melbourne’s skyline and endure into the future as one of the city’s very best residential addresses.  

“On completion, 85 Spring Street will sit comfortably alongside Grocon’s stable of luxury residential projects successfully built or developed in Melbourne throughout its history, including the Westin Hotel Apartments, Park Hyatt Hotel & Treasury Garden Apartments and Eureka Tower. ”  

Average apartment sizes at 85 Spring Street will be approximately 160sqm, with a mix of two and three bedroom apartments. Some apartments extend over two levels with their own internal staircases.

“The premium finishes and appliances in the apartments extend through the common areas including the hotel style indoor pool, spa, steam room and sauna which are co-located with fitness facilities on the mezzanine level. Residents will also have access to an exclusive function space,” Mr Storey said.

Two new retail spaces developed at 85 Spring Stree will become part of the surrounding precinct, in addition to a major new public art commission that will be included in the link between Ulster Lane and Little Collins Street.

“Grocon has pushed the boundaries with the design by committing to certification for both sustainability and accessibility,” Mr Storey said. “85 Spring Street will be designed to achieve 5 Stars under the Green Building Council of Australia’s GreenStar rating tool. The building will also showcase the benefits of designing for people of all abilities through the application of the Livable Housing Australia design guidelines. 

“So, whether a stepless arrival is needed for a person with a stroller or a bit more width is required at doorways for someone with a wheelchair, the project aims to set new standards in accessibility and livability for CBD apartment projects.”

The project has also been developed to give back to the community by supporting The Big Issue’s Homes for Homes initiative. This initiative, which aims to help break the cycle of homelessness through funding for a trust whose purpose is to build social housing, was launched in Melbourne on the September 21.

“Purchasers at 85 Spring Street will enter into voluntary agreements to contribute 0.1% of the future sale price of their apartments to the trust at the time that the apartments are sold next,” Mr Storey said.  “Grocon’s owners Daniel and Kat Grollo will contribute the same value at the time the apartments settle for the first time.”

A display suite has been constructed at the top of the existing building at 85 Spring Street and comprises a full sized three-bedroom apartment. 

Appointments are being taken by Colliers International via www.85Spring Street.com.au or by phone on 1300 614 244. Mr Storey said the display suite had been very busy for the past couple of weeks.  

Grocon’s construction team will demolish the existing building on the site to make way for the new project. Demolition is scheduled to commence in the first quarter of 2016 and completion of the new apartments is scheduled for early 2019.