Hamton, ISPT Forge With Plans to Develop $200 Million Riverfront Village, Abbotsford

THE development consortium which bought three low-rise offices on the banks of the Yarra River, is forging ahead with plans to demolish two of the buildings, and replace the space with a $200 million residential village.
 
Developers Hamton and Industry Superannuation Property Trust have started marketing apartments at 677 – 679 Victoria Street, opposite the Victoria Gardens shopping centre in Abbotsford, at the suburb border of Kew and Hawthorn.

The developers are reported to have paid Becton about $30 million for the office complex late last year, outmuscling traditional property investors sniffing the market out at the time for good bargains.

The Hamton site is bound by Victoria Street to the south, and a picturesque L-shape bend in the Yarra River to the north and east.  It’s expected several hundred residents will eventually enjoy this view, until recently enjoyed by office tenants.
 
A campaign to sell the remaining office building at 675 Victoria Street is underway.