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Developer Mirvac has revealed its latest residential project on Melbourne’s busy St Kilda Road close to the CBD.
It is the third residential project announced by the group in the past six months.
Under its plans, The Albertine will sit on a 2323sq m site in the St Kilda Road precinct. The site was formerly known as 31 Queens Lane.
Mirvac acquired the site in mid-2022 with a permit for $29.6 million, according to CoreLogic property records. It was settled in April, 2023.
Plans for the site are estimated to have an end value of $200 million and comprise about 100 large-format one, two, three and four-bedroom apartments across the project’s 15 storeys.
There will also be amenities in the Circadian Club, an area with an indoor pool and spa, a gym, yoga and pilates studio and sauna.
On the 10th floor will be the Elysian Room, a resident-exclusive dining space.
The developer has laucnhed the Trielle at Yarra’s Edge to market and recently won planning approval for 699 Park Street at Brunswick.
MEKKO, Mirvac’s series of sustainable apartments at its masterplanned community at Altona North, The Fabric, are due to be launched soon.
Other successful apartment projects for the developer include East Melbourne’s Eastbourne and The Melburnian, which is quite close to the site of the proposed Albertine on St Kilda Road.
“Demand for quality, well-designed and constructed apartments remains strong, underpinned by low unemployment, wage growth, the return of overseas migration and scarcity of quality product,” Mirvac general manager of residential Victoria Elysa Anderson said.
“We recognise Victoria’s historically low apartment pipeline and remain focused on accelerating our supply of apartments that are built for tomorrow.”
Construction is scheduled to start in late 2023.
Mirvac’s residential development pipeline in Victoria is worth around $6.8 billion.
