Malaysian property developer Gamuda Land has won planning permission for an 18-storey residential tower at St Kilda—its third inner-Melbourne apartment project in five years.
The Victorian Civil Administration Tribunal (VCAT) approved the developer’s $35-million plans for 78 apartments in a mixed-use tower on a 945sq m site at 95 St Kilda Road this month.
Gamuda was seeking 10 single-bedroom, 29 two-bedroom and 39 three-bedroom apartments above four levels of basement parking for 66 vehicles, plus a communal roof top terrace of 181 square metres.
It is understood apartments will be priced from $875,000 for two bedrooms.
The design by Bayley Ward Architects will include 111sq m for a cafe and another 102sq m given over to co-working office space.
A single-storey building, previously used as a site office for a rental car company, will be demolished to make way for tower.
Gamuda Land assistant general manager Jarrod Tai said the company had lodged an appeal with VCAT, challenging a permit requirement to cut the height of the building by two levels.
“The project reached an agreed reduction of one level in a pre-hearing conference with the City of Port Phillip, which has resulted in project savings ... and will enable a timely delivery of housing for the St Kilda region,” Tai said in a written response to questions.
The developer picked up the site in July last year, paying $9.75 million.
Established in 1995, Gamuda Land is the property and development arm of Gamuda Berhad, a leading engineering, construction and infrastructure group in Malaysia. It entered the Australian market in 2014.
Its first Australian project, completed in 2018, was a high-rise residential tower and a six-star hotel on a 1400sq m site at 661 Chapel Street, South Yarra.
Four months ago the development group started construction on a $180-million, 200-apartment mixed-use project for a 2600sq m site in Melbourne’s Fishermans Bend. That was the second time Gamuda had chosen to work with Crema Constructions.
The latest project—about 4.7km south of Melbourne’s centre—is part of the company’s commitment to bring 1000 homes to the Australian market over the next five years.
Construction on the St Kilda project is expected to start midway through next year.
