R.Corporation to Develop South Yarra Stables

AFTER a false start, boutique builder R.Corporation has gone back to the drawing board, proposing to redevelop an historic horse stables building it acquired as part of a larger development site three years ago.
 
R.Corporation plans to build apartments within the walls of 1900s stables, part of the $140 Clara development in South Yarra, which includes townhouses, apartments and a new park.
 
R.Corporation is developing the stables after failing to sell the property as a development site earlier this year, for about $2.6 million.
 
Former bikini model Jodhi Meares, as “lifestyle collaborator” chose the interior design options for Clara apartments. The site was previously a council-owned waste transfer station.
 
Chief executive officer Andrew Rettig said despite the bleak economic backdrop, the developer has sold 90% of stage 1 apartments and townhouses, and 80% of stage 2 park apartments.

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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