Another College to Make Way For Apartments, Melbourne

The site owner, which is also building an apartment complex at 589 Elizabeth Street, paid $6.25 for 48 – 50 A’Beckett Street in March 2010.

Between Elizabeth and Swanston streets, the former college is near the Carlton suburb border. In years to come the site will lose light from the impact of two skyscrapers proposed in the immediate area, including a 61-level skyscraper earmarked to replace the Stork Hotel at 504 Elizabeth Street (pictured, above).

Last week, The Age reported a development application has been lodged for another former Carrick college, at 36 – 40 La Trobe Street. That smaller 589 square metre block is mooted to become a 32-level tower with 64 car park bays and 216 mostly one-bedroom flats.

In recent months, small CBD blocks have been approved to make way for dense apartment proposals. The most ambitious is arguably at 276 Russell Street, where a 36-level, 117 metre apartment building with 154 flats but no car parks is earmarked for a 381 square metre block behind the State Library.

At 82 Flinders Street, a 29-level, 88.5 metre tower with 28 flats is earmarked for a 163 square metre block that was the former Phoenix Bar.

 

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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