Developer Hudson Conway, headed by billionaire businessman Lloyd Williams has relisted a development site at 557 St Kilda Road, on the north-east corner of Moubray Street, south of Melbourne.
The group acquired the site in 2009 for a reported $22 million
That vendor, Stockland, paid Vision Australia $28.3m in 2007.
It then subdivided the parcel in two and sold the section containing the bluestone building occupied by the Belgian Beer Cafe, for $7m.
It had been speculated that the Sydney developer might have constructed a boutique hotel on the cafe’s space.
The Hudson Conway site
The balance of the parcel Hudson Conway acquired – 9031 square metres – has about 64 meters of street frontage.
Shortly after settlement, the local builder obtained a permit – for 329 apartments and 369 underground car parks.
The proposed complex would have three tiers peaking at 23 floors.
The land is expected to sell for about $27m this time around; Knight Frank’s Paul Henley and Ken Smirk with CB Richard Ellis’ Mark Wizel and Martin O’Sullivan are the agents.
This precinct of St Kilda Road is known as Melbourne with a postcode of 3004, however #557 is about five kilometres from the CBD.
In June it was reported Mr Williams paid about $13m for two neighbouring homes in South Yarra’s Marne Street – a combined 1632 sqm – with plans for a high-end residential project.