Developer Caydon has awarded the contract to build stage one of the $1 billion Nylex Clock redevelopment on the high-profile site at Gough Street, Cremorne.
Stage one includes a 15 and 12 split-level tower featuring one, two and three-bedroom apartments and lower level retail and hospitality outlets.
Although Probuild declined to elaborate on the construction contract, it will be well over the $100 million-plus "tier-one" construction classification.
This first stage of Caydon’s The Malt District mixed-use residential and commercial development is named Coppins Corner after 1850s Richmond and Cremorne identity George Coppin.
The Coppins Corner residential building was designed by Fender Katsalidis to complement adjacent heritage structures being retained in the development, including an historic Malt House to be converted into a micro-brewery and pub.
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Coppins Corner also features public spaces, courtyards and laneways designed by landscape architect Oculus, that will connect new and old buildings in the precinct with roads, pedestrian and bicycle paths.
The Malt District development is situated on the historical Richmond malting site, home to the landmark silos and the Nylex Clock, which has been a much-loved feature of Melbourne’s skyline since 1961. The retained heritage buildings and industrial mix of concrete, timber, brick, glass and steel has informed and inspired the design aesthetic.
Cremorne is a former industrial precinct next to Richmond and bound by Punt Road, Church and Swan Streets and the Yarra River.
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Demolition works have already commenced at the Nylex site with Probuild to commence construction within coming months, and expected to be completed in mid-2020.
Caydon has already pre-sold almost 50 per cent of Coppins Corner apartments. The developer first received approval for its stage one plans from the Victorian Civil and Administrative Tribunal in 2016.
Probuild will also build a nine-level tower with 8,800 square metres of office space on the site’s south-eastern corner, which Caydon recently leased in its entirety to business software giant MYOB.
“Probuild’s appointment to build Coppins Corner is a significant milestone for Caydon, and the start of the transformation of what is now a derelict industrial site into a stunning place for people to live, work and visit,” Caydon’s chief operations officer Jarrod Stratton said.
In January, Caydon received approval for stage two which it intends to deliver a boutique hotel, a function centre, shops and restaurants, art gallery and the construction and display of the old Nylex and Victoria Bitter signs on top of the silos.