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Written by Marc Pallisco
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Tuesday, 09 March 2010 21:29 |
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 DEC, the India-based development company whose star-studded Australian launch last year saw Planning Minister Justin Madden skip one of his six November parliamentary sittings, has started construction of a luxury apartment complex, next door to South Yarra’s distinctive Beverley Hills building.
The Elan complex, at 59 Darling Road, opposite the Yarra River, will include seven two-bedroom apartments, and a penthouse, taking out all of the top two levels of the six level complex.
A Moreton Bay Fig Tree, once a part of the Beverley Hill’s apartment building’s famous side garden, and valued by council at more than $2 million, will be retained.
Elan apartments start at $1.6 million for a two-bedroom, with two car spaces.
DEC, headed by Indian billionaire Rakeesh Wadhawan, purchased the South Yarra site for about $4 million in 2008 as part of a $57 million spending spree that also included a Middle Park block of flats, on Beaconsfield Parade, and a major Southbank site capable of accommodating several high rise towers.
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