Plans Lodged to Develop Outgoing Headquarters of The Age

The joint venture owners of the site, ASX-listed giant Industry Superannuation Property Trust and Perth-based developer Axiom Properties Limited, are proposing two high-rise apartment towers: a 51-level, 476-unit building to be known as the Australis Tower on Lonsdale Street; and a 39-level, 272-unit building to be known as Hemisphere Tower, on Little Lonsdale Street.

The proposal will include demolishing buildings and widening two laneways, Alston and Merriman lanes, to incorporate about 1500 square metres of retail space for cafes, restaurants and shops.

It is not known whether a 98-year-old red brick warehouse at 612 Lonsdale Street, once occupied by refrigeration engineer Reidy’s, will be retained as part of the redevelopment.

Sources expect a separate redevelopment application to be lodged next year that will affect the brown-brick 250 Spencer Street building and the disused printing presses.

It’s expected the prominent building will be retained, as part of a major mixed-use project that might also include offices, a retail arcade and serviced apartments, as well as more apartment buildings.

Fairfax Media sold the 1.52-hectare site for $66.1 million in February 2007, ahead of a move to a new Docklands office late next year.

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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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