The first stage of heritage listed development
is 91 per cent sold just three months after retail launch, totalling $176 million in sales.
Developer SMA Projects has just released the final stage of its $220 million project ahead of schedule to accommodate high demand. The Northern View release includes 70 apartments and townhouses that boast unobstructed northern and city views toward Collingwood, Abbotsford and the Yarra River. The release also contains five heritage loft apartments in the site’s most prominent feature, a six-storey polychromatic brick brew tower that was Melbourne’s tallest building for the decade following its construction in 1876.
SMA Projects Director Martin Strode said the success of the project is a sign of the strengthening market but is also due to the history and character associate with the site.
“We’ve had overwhelming interest from day one, when we had 300 people through the display suite on the opening weekend
“We’ve saved the best for last with our latest release including the heritage brew tower apartments. It’s been nearly 25 years since anyone has set foot in the tower, making it a once in a lifetime opportunity to live in one of Melbourne’s most historic icons. We won’t be surprised if the heritage apartments are snapped up in a matter of weeks,” Mr Strode said.
Located at 1-21 Robert Street in Collingwood, the 4,500-square-metre historic site is the former home to one of Melbourne’s major brewing enterprises, Yorkshire Brewery. The site will be redeveloped into three luxurious residential towers featuring 358 apartments and townhouses.
Designed by Hayball the townhouses and three bedroom apartments have been snapped up for between $700,000 to $1.1million and a range of two bedroom apartments have sold between $525,000 and $760,000. One bedroom apartments have also been popular, selling between $295,000 and $515,000.
Hayball managing director Tom Jordan said the abstracted design response of the new buildings reinforces the pre-eminence of the historic brew tower.
“We wanted our design to engage with the vibrance and diversity of Collingwood and at the same time celebrate the site’s industrial heritage. The materials palette references and complements the site’s history, through a mix of timber, exposed brick and concrete,” Mr Jordan said.
"Hayball’s scheme for this series of residential towers creates a permeable, neighbourhood-oriented precinct in the heart of industrial Collingwood".
Recent ABS Statistics show more and more people are migrating to the Melbourne CBD. It’s clear the demand for an inner city lifestyle is higher than ever. This is further reflected in Collingwood, just 1.5km from the CBD, with the suburb’s median house and apartment price increasing 34 per cent since 2008.
“Melbourne’s population boom is transforming us into a generation of apartment dwellers and Collingwood is one of the few CBD fringe areas that doesn’t have an oversupply of developments,” said Strode.
According to Strode, Collingwood’s mixed used zoning has been another drawcard for the project. “There is no other building in Collingwood that offers the same vantage point as Yorkshire Brewery. It’s been a huge selling point for buyers to know that they’ll have views of both the city and the Yarra from their balconies.”
Bringing some of Collingwood’s eclectic character into Yorkshire Brewery, the existing laneways that surround the development will lead into its beautifully landscaped piazza, Yorkshire Square. Sitting on the ground level, it will include a cafe, wine bar and deli and be opened to the public.
“We’re now at the stage where we’re looking for an operator to run the café and wine bar,” said Strode. “Our vision is for Yorkshire Square to become a communal space for local workers and residents, so it’s important that whoever we find understands the cultural nuances of the area.”
Townhouses and apartments in the Northern View release are priced from $395K to $1million plus.