Plans for a 40-storey “stacked tower’’ on the corner of Lonsdale and King Streets in the west end of Melbourne’s CBD will move ahead after receiving development approval.
The $500 million building—set to comprise a hotel and A-grade office space—is backed by developer V-Leader, led by Andy Zhang.
Zhang secured the 600 Lonsdale building in May 2018, after 15 strata owners sold their share in the building for $48 million. His development company paid a total of $52 million for the Lonsdale Court building after the final strata owner moved to sell a year later.
The latest nod comes after Melbourne council gave the green light for the tower’s development in May.
Zhang’s latest CBD application, at 600 Lonsdale Street, was designed by Chicago-based firm Skidmore Owings & Merrill (SOM) and Fender Katsalidis.
The tower will comprise a 280-room hotel atop 24,400sq m of A-grade office space.
The approval comes as Zhang’s V-Leader recently lodged plans for two 15-storey towers in Collingwood at 128-144 Wellington Street.
In Collingwood, his development company plans a 197 room hotel and office building for the city fringe precinct.
“We are aligning 600 Lonsdale Street with the surge in development in this particular precinct of the CBD,” Zhang said on the recent approval.
The tower will replace a 1920s building on a large 1900sq m site, at one time owned by business tycoon George Frew.
The west end of Melbourne’s CBD is experiencing a rejuvenation, Fender Katsalidis director James Pearce said.
“The legal precinct in Melbourne is undergoing enormous transformation.”
Pearce added that the building’s “biophilic” design includes balconies with integrated planters and growing armatures to create a vertical network of green “laneway-like” outdoor spaces.