Chinese developer Wuzhong International is making its foray into the Australian residential market with plans for a 19-storey development in South Melbourne.
The proposed building, located at 2 Bowen Crescent, adjacent to Royal Melbourne Botanic Gardens, Albert Park Lake, and Melbourne’s CBD.
The project, entitled Bowen & Queens, has been designed by Plus Architecture and will include 214 dwellings, a grand lobby, gym, private lounge and entertainment spaces as well as nine double-storey penthouses priced between $2 million and $4.6 million.
“Our objective is to deliver a spacious and genuine home with high quality amenity for residents – a place where they feel connected and can embrace the surroundings,” Wuzhong International director David Yihou Shen said.
“We’re confident that the elegant design and warm finishes, complemented by sweeping views and the development’s ideal positioning, presents a compelling opportunity to purchases.”
South Melbourne has been a hotbed of development activity over the year with a number of high-profile transactions and applications.
The Victoria Police recently paid $23 million for a major development site in South Melbourne’s Dorcas Street.
Development and construction giant Grocon recently spent $35 million on a development-ready site at 256-266 City Road in Southbank with plans for a build-to-rent project.
Late last year a private Melbourne developer snapped up a development ready site within the St Kilda Road precinct.
The site is approved for a 20-storey residential development for 174 apartments and cost the developer $24 million.
Late last month, a Melbourne-based developer captured a Kings Way island site for $32 million.
The site, which holds mixed-use zoning, is currently occupied by a five-storey office property once owned by former rich lister "Diamond Joe" Gutnick.