Melbourne’s tallest residential development has been given final approval.
CEL Australia’s 200m high, 71-level Tower Melbourne development in the CBD has been designed by architects, Elenberg Fraser and will comprise 581 apartments at a cost of $170 million. It will include office, restaurant and retail space on the first floor.
It is scheduled for completion in 2016.
CEL Australia, a subsidiary of Singapore-based Chip Eng Seng Corporation Ltd, bought the site in September last year for $25 million. The low-rise office building on the site — 150 Queen Street — will be demolished to make way for the tower.
”Tower Melbourne is a city-defining project. It’s about a life that is rich in experiences, a life we all aspire to live,” says architect Callum Fraser, from Elenberg Fraser.
The 581-apartment tower will be narrow sitting on a 913m² site. Two-bedroom “town homes” will start at $875,000, while the four penthouses will sell for $2.2 million. Many of the apartments have already been sold off-the-plan.
