Construction commences next week on the
Victoria One tower, slated to be the tallest building in Melbourne CBD once completed.
Probuild will commence construction on Golden Age Group’s latest acquisition, with the tower expected to be completed in 2017.
Spanning 241 metres and 75 levels, Victoria One will comprise 629 apartments across a shimmering tower designed by award winning architects
Elenberg Fraser and located on the corner of Elizabeth and Franklin Streets in Melbourne.
Construction on the $350 million project will commence in early November.
Featuring metallic fins that cascade down its shimmering green glass façade to land in a 10 level podium bursting with greenery, it is expected to become one of Melbourne’s most iconic buildings.
Golden Age Group founder Jeff Xu said he expected the construction of Victoria One would spur on final sales, with 95 per cent of the apartments sold in just four months.
“The market is buoyant, but I believe in still being cautious and building apartments that are aspirational and of high quality – these types of projects will find buyers in any market,” Mr Xu said.
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Probuild’s Victorian managing director Dean Lockhart said Victoria One adds to Probuild’s current $3 billion national pipeline of work across Victoria, New South Wales, Queensland and Western Australia.
“You don’t get an opportunity to build the tallest building in a city every day. To have the opportunity to deliver a building that will change Melbourne’s skyline is an exciting prospect,” Mr Lockhart said.
Probuild has a strong history in the Melbourne construction market and has been responsible for some of Melbourne’s most iconic buildings. Probuild is currently constructing a number of the city’s largest towers.
“There is definitely incredible growth in high-rise apartment living that we haven’t seen in our 27 plus years in Melbourne,” Mr Lockhart said.
“It signals a change in people’s desire to live closer to the city. People are pushing through that psychological barrier that says we need a home and land.
“Victoria One represents this change in thinking as well as a change in dynamic as younger generations embrace city living over the traditional great Australian dream of a quarter acre block.”
Also see: Stories on tallest buildings