Malt District Shifts Again for Homes, Hotel Mix

Caydon Commercial has filed another amendment to the plans for the second stage of The Malt District project in Melbourne’s Richmond. The developer, currently under administration, previously filed a Section 72 Amendment to change the design and plans for the second stage in August 2024. It then filed a Section 50 Amendment to change the land use and alter the Section 72 Amendment in April 2025 for the 3786sq m site. Caydon collapsed in mid-2022 owing more than $200 million. Jirsch Sutherland were appointed as liquidators for Caydon. McGrathNichol told The Urban Developer that as appointed receivers for Caydon Group, Matthew Hutton, Matthew Caddy and financier OCP Asia could confirm that an amendment was submitted to the City of Yarra Council. “The application seeks to amend the existing DA (which is principally zoned for commercial use) to allow for a multi-use residential, hotel and hospitality precinct, whilst retaining less substantial commercial and office space,” a McGrathNichol spokesperson said. “The application also seeks to align the site to meet demand for residential accommodation options in the desired Cremorne precinct surrounding the Nylex clock site.” McGrathNichol also confirmed that if the amendment was permitted it would allow the site to better appeal to buyers and investors. The permit for the site at 2 Gough Street, Cremorne, was first awarded in January 2018 and has been amended many times. In June 2021, the council granted a permit for three buildings, a residential hotel, a function centre, a food and beverage space, a gallery and a reduction in carparking. ▲ Renders of the planned Malt District project. The August 2024 Section 72 amendment proposes moving the basement and carparking creation for Building 8 and Building 9 on the site from Stage 2A to Stage 2B. It also proposes changing the facade design for Building 9 and swapping it from office to residential use with 186 units. There would also be a facade revision, a three-storey podium and a conversion of the Building 9 silo from a gallery to a restaurant and penthouses. A mezzanine level would be created for carparking while deleting a basement level and Building 6 would get facade revisions, 13 hotel rooms and the deletion of 456sq m of office space on the second floor. Stage 2A would then include Buildings 4, 5 and 6 and Stage 2B would include Buildings 8, 9 and the Building 9 silos. In February 2025, a time extension was granted allowing for the completion deadline to be January 2027 and the commencement deadline to be January 2030. But in April 2025, the Section 50 Amendment was filed proposing that the Section 72 Amendment in progress be changed slightly to turn the ground floor restaurant of Building 9’s silo to a shop, deleting a mezzanine level and making minor changes to Building 9’s basement carparking. The planning documents argue that this would allow more activation of the precinct. Caydon acquired the former malt factory Nylex site in 2014 for about $38 million. Probuild was appointed to build the first stage of the site prior to its own collapse.

Malt District Shifts Again for Homes, Hotel Mix

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