Residents of Southbank’s Freshwater Place and Eureka Towers Can Breathe Easy, For Now

High rise apartment builder Mirvac says it has no plans – yet – to develop four prime sites it owns on Riverside Quay, on the banks of the Yarra River between Queensbridge Street and St Kilda Road. The buildings are currently leased as three low rise offices and a car park.

Any high rise development by Mirvac risks destroying the million dollar city views many Freshwater and Eureka residents currently enjoy from their apartments.

Mirvac bought the Riverside Quay buildings between 2002 and 2003 for a total of $104.7 million. The sites have CBD views that cannot be built out.

Mirvac says the Riverside Quay buildings will instead undergo a “repositioning”, which will see the addition of retail space and outdoor dining areas. Renovation and ground floor extension works are expected to start before the end of the year.

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Marc Pallisco

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

Marc Pallisco

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