PDG secures another inner-city site
PDG has bought a triple fronted high density residential development site on Melbourne’s inner north west fringe.
The 1597 square metre West Melbourne parcel, 137-157 Adderley Street, also facing Rosslyn and Stanley, is setting the group back $9.25 million.
The vendor, Aust Landing Group Pty Ltd, outlaid $9.4m in 2016.
A permit for a six storey building with 96 dwellings in a 13,167 sqm shell was approved in 2018.
PDG will appoint architects for a new design, possibly for a build to rent asset.
Cushman & Wakefield’s Daniel Wolman, Oliver Hay and Leon Ma were the agents (story continues below).
Elsewhere in Adderley St, West Melbourne, PDG recently completed 165 apartments, a project called Gadsden.
It also completed a build to rent tower near Queen Victoria Market – now owned by Mirvac – as well as offices in Melbourne’s biotechnology precinct on Elizabeth St near the Haymarket roundabout.
The company also co-owns Australia Post’s new headquarters at Burnley.
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