Monno – the new name for CostaFox – has won permission to replace a prominent Docklands car park with a residential based mixed-use project.
At 111 Lorimer Street, at the V-intersection of Boundary – part of the outgoing Subaru Interactive dealership – a main tower rising 32 levels would contain about 333 apartments, 20 which will be allocated for affordable housing managed under a Build to Rent model.
Resident-only amenity includes a gym, dining room, lounge, place of assembly and podium garden.
Adjoining the skyscraper will be a six storey, c2000 square metre office.
The ground floor of both buildings will contain retail.
The two towers will also have north facing water view security over a townhouse component of Mirvac’s Yarra’s Edge precinct.
Subaru dealership sliced
Led by Geno Hubay, Monno paid Inchcape – Subaru’s local distributor – $17.8 million for the 4109 sqm block making way for the project, in 2017.
The developer initially proposed a 40 storey tower with 396 apartments.
Rothelowman designed the latest scheme.
Elsewhere in the immediate area, Samma Property Group was this month approved to construct a 31 level Build to Rent tower at 194-206 Lorimer St, abutting the Bolte Bridge (story continues below).
Mirvac also recently won permission to build a 45 storey residential building – Docklands’ tallest – east of the Monno block.
Another four skyscrapers – offering up to 940 dwellings – are earmarked at 85 Lorimer St, an ex-timber yard which Monno in a then-partnership with businessman Paul Little, sold to a Chinese developer for $60m in 2016.
Longer term, at least one more major building is earmarked to replace the balance of the Subaru Interactive dealership, a 1.78 hectare plot known as 99-109 Lorimer St, which Inchcape offloaded in 2021 to Pelligra Group and luxury car dealer Nick Theodossi for $50.5m.
No deal for Lang Walker
Also this week, Heritage Victoria refused an application to chop Docklands’ c1890 Goods Shed again – and replace the airspace with two skyscrapers, the tallest rising 41 storeys.
The historic building was also split in two 10 years ago as part of Lang Walker’s redevelopment of the pocket known as Batman’s Hill, south of the Southern Cross station.
This week, HV rejected the developer and Abacus Property Group’s next proposal for two towers with a combined c235,000 sqm of area – the bulk (60 per cent, or 140,000 sqm) being offices – to be constructed on stilts.
The verdict comes eight years since the group refused another plan by Mr Walker to construct one skyscraper on the airspace.
It is expected the builder will now lobby the Melbourne City Council then, if endorsed, new planning minister Sonya Kilkenny, for a permit.
The end value is speculated will circle $750m.
Subscribe to our newsletter at the bottom of this page.