Hengyi’s Henera chooses Fitzroy for maiden project

Fitz and Kerr will contain 23 dwellings in two buildings.

Henera, a boutique residential development arm established by high density builder Hengyi, has chosen Melbourne’s inner north Fitzroy for its maiden project.

A balcony off an apartment earmarked at 88 Kerr Street.

With two towers, of six and seven storeys, over a three level basement car park, the complex will front both Kerr and Fitzroy streets, near the corner of Brunswick and Johnston.

All up, it will contain 23 dwellings – a mix of two and three bedrooms, each with between one and two car parks.

The cheapest unit is asking $1.075 million.

There will also be two ground floor retail tenancies.

Completion is scheduled in 2025.

The announcement comes a week since Hengyi sold the former Kodak headquarters, in nearby Abbotsford, to self storage executive Carl Sachs, for $19m.

The group is also proposing a dual tower complex, The Residences, at 31 Coventry St, Southbank.

In Mt Eliza, meanwhile, it is planning a $160m aged care facility also with apartments on the former Mount Eliza Centre – a 3.4 hectare waterfront property it acquired from the state government for $17.5m in 2019 (story continues below).

One of two ground floor restaurant tenancies proposed at Fitz and Kerr.

Fitz and Kerr

Apartments at 88 Kerr Street start at $1.075 million.

Hengyi paid Australian Volunteers International $7.7m-ex GST in 2020 for the 1204 square metre L-shaped property, 88 Kerr St, making way for Fitz and Kerr.

The not-for-profit had not long earlier sold the neighbouring holding, 71-75 Argyle St, covering 1059 sqm, to another developer, Piccolo Group, for $7.8m.

That builder recently completed its redevelopment – dubbed Fitzroy House, it contains 34 dwellings in buildings up to seven floors.

Hengyi was granted permission for Fitz and Kerr last May.

Eton Property Group’s Daniel Caspar is marketing the apartments.

AVI purchased a replacement headquarters at 160 Johnston St, in the suburb, for just over $5m in 2018.

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Marc Pallisco

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