Hayball sells Southbank HQ to Evolve Development for $30 million

Vault, otherwise known as The Yellow Peril.

Architecture firm Hayball has sold its Melbourne headquarters to local builder Evolve Development for a speculated price of about $30 million.

The design firm offered the enormous 2885 square metre Southbank site permit-ready for an 18-storey building containing 206 apartments (artist’s impression, top).

A ground floor area of 878 sqm is also allowed as part of the permit, for use as retail, commercial and art-related businesses.

The property covers the addresses known as 135 Sturt Street and 80 Dodds Street. It is metres away from the Malthouse Theatre and The Australian Centre for Contemporary Art, which has the distinctive sculpture, Vault (otherwise known as the Yellow Peril), in its forecourt.

Any high rise redevelopment of the block would offer view security to the Royal Botanic Gardens and Melbourne CBD, over a low-rise strata-titled residential complex and the historic Victoria Barracks. Westerly views to Port Phillip Bay are also protected by Citylink. Evolve is expected to rework the permit and bring a project to the market late next year.

Colliers International’s Hamish Burgess and Trent Hobart represented Hayball but declined to comment about the deal when contacted.

The same agents this week picked up another, and similar, listing in the street. Architecture firm Rothelowman can expect about $20 million, according to sources, for its offices at 153 Sturt Street, also being offered permit-ready for an apartment building.


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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au