FRIDCORP LAYS PLANS FOR MELBOURNE TOWER

FRIDCORP LAYS PLANS FOR MELBOURNE TOWER

FRIDCORP has bolstered its aggressive growth strategy in Melbourne, after securing a significant land holding in a sought after inner-city location.

The property developer has purchased a 1311sqm site at 3 and 5-15 Shiel Street in North Melbourne from Spec Property.

The site holds a permit for 65 residences, with Fridcorp and design partner Elenberg Fraser requesting approval from Melbourne City Council to double that to 120 one and two-bedroom apartments across 12 levels.

Fridcorp founder and director Paul Fridman says the firm will continue to pursue further development opportunities in Melbourne's inner-city growth areas.

"We believe there is strong demand for apartments in prime locations that provide a genuine alternative to a home without compromising on design or lifestyle," Fridman says.

"We are actively seeking sites in Melbourne that allow us to meet this criteria, as well as deliver long-term investment potential and growth for owner-occupiers and investors.

"North Melbourne is a new market for Fridcorp but the inner-city lifestyle, combined with the new Canning Street retail hub, surrounding greenery and parklands, as well as its unique access to the CBD and airport, has seen the suburb become exponentially popular with a cross-section of ages and demographics, and we expect a strong response to our product."

Elenberg Fraser will deliver both the architecture and interiors for the project, featuring 37m of Shiel Street frontage.

The project is expected to launch early next year, with construction scheduled to commence mid-2017.

Fridcorp has approximately $1.5 billion worth of apartments under development, with projects in Brisbane and Sydney contributing to an additional 1700 residences delivered to the Australian market this year.

 

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

ASIC secures its first court win for greenwashing against US giant Vanguard

ASIC secures its first court win for greenwashing against US giant Vanguard

The Australian corporate watchdog has caught out one of the world&r...

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Australian-founded medicinal cannabis company Althea Group (ASX: AG...

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Listed funds manager 360 Capital Group (ASX: TGP) has offloaded its...

Lendlease gains approval for $1.7b transformation of Queen Victoria Market precinct

Lendlease gains approval for $1.7b transformation of Queen Victoria Market precinct

Australian development giant Lendlease Group (ASX: LLC) has been gr...