Interior Designer David Hicks Pays $3 Million For St Kilda Road Apartment

Pan Urban is reported to have paid $6.2 million for the St Kilda Road development site in late 2004. Known as the Kings Cross Plaza, the 1,887 square metre property included a double storey arcade with 15 shops and 13 office suites, which were demolished.
 
Mr Schwartz made the unusual decision to redevelop the site into a low-rise, six-level complex of 17 oversized apartments, rather than a high rise tower capable of accommodating hundreds of apartments, like some other Pan Urban projects.
 
Apartment Brokers Jenny Gould, who is marketing 401 St Kilda Road, declined to comment on any part of a deal when contacted by Secret Agent. Mr Hicks was unavailable.
 
Restaurateur Shannon Bennett of Vue De Monde fame, recently opened Cafe Vue at the ground floor of the 401 St Kilda Road complex, after a reported lush $1.5 million fit-out. At the same time, eight ground floor retail shops in the complex have recently been listed for sale as investments.

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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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