A 198-metre skyscraper in Melbourne’s inner city, known as Collins House, has been completed by Jeff Xu’s Golden Age Group and joint venture partner Deague Group.
The slim tower, which spans 60-floors, is “Australia’s slimmest tower” and the fourth most slender in the world, according to its developer.
Golden Age purchased the inner city property for $25 million from Equiset Group in 2014. It had previously changed hands for just under $10.5 million in late 2012.
The building at 466 Collins Street spans a small footprint site, roughly the size of a netball court, a 483sq m site that is 12 metres wide.
Bates Smart managing director Simon Swaney said the project, which faced a series of structural, planning and heritage challenges, is the first residential tower in Australia designed using modular components.
“It is an elegant super-slim skyscraper and the first residential tower in Australia designed using modular components, two solutions that enabled construction on a site that was previously deemed un-developable,” Swaney said.
Hickory Group were appointed to build the tower, which cantilevers 4.5 metres beyond the site boundary, and incorporates the heritage-listed 1908 Makers Mark building.
In July, Golden Age snapped up an office building from the Uniting Church at 130 Little Collins Street for more than $40 million. The Melbourne based developer also has plans for a $450 million Chinatown in Melbourne suburb Box Hill.
Golden Age announced in October that it would work with US lifestyle branded ACE Hotel with its first expansion into Australia, a 264-room hotel in Sydney's Surry Hills.