Little Project Development Proposes New Future For Prominent South Yarra Data Centre
A development company affiliated with Toll Holdings managing director Paul Little says it is deciding a new future for a prominent but unattractive 11-level South Yarra office building it bought for $33 million last September.
Little Project Development director Kevin Britton confirmed a meeting with Stonnington City Council and architects, and will soon lodge plans for the Toorak Road property, which will include reworking a brown brick facade.
The site is near the Chapel Street intersection, surrounded by other building blocks – predominantly disused factories – undergoing or set to undergo residential redevelopment.
LPD’s building has a large tract of land at the rear that could accommodate a second structure.
The office could also be extended out and up, subject approval.
Mr Britton says ideas for the property include a boutique hotel, offices and residential apartments. The ground level is expected to be retail.
A 38-level apartment building is proposed for the Fun Factory site next door.
ANZ listed the LPD building, developed in the early 1970s as a data centre.
At the time the property sold, the bank also divested a CBD office at 287-301 Collins St to the Australian Property Growth Fund for $30.5 million.
LPD recently resurrected plans for a $50 million, 52-unit apartment project on the former Anglican church site in Wattle Road, Hawthorn.
This development was to be undertaken by Mirvac which paid about $6.7 million for the Church in 2003.
LPD is also building a new Bunnings in Burwood Road, Hawthorn, and has converted the former Cussons warehouse in Stawell Street, Richmond, into 133 apartments.
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