The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
5
print
Print
RetailMarisa WikramanayakeThu 13 Apr 23

Orchard Piper’s Toorak Approval Triggers Penthouse Sale Reveal

Orchard Piper's Toorak Village mixed-use project which has just received planning approval.

A penthouse in Orchard Piper’s mixed-use project in the heart of one of Melbourne’s richest suburbs has been sold for $12.5 million hot on the heels of the project winning planning approval.

Now approved by the City of Stonningtonis the developer’s Toorak Village at 109 Mathoura Road and 420-426 Toorak Road.

The single-floor 400sq m penthouse, which has 360-degree views of the CBD, was bought by an unnamed Melbourne business figure.

It was bought before the designs were finalised, according to Orchard Piper director Rick Gronow.

The Kerry Hill Architects designed plans for Toorak Village, the architect’s first in Victoria, comprises a six-storey residential building plus ground-floor retail spaces.

Each of the nine three-bedroom apartments, will have a private lobby and a three-car garage.

There with two apartments per floor and three levels of commercial space. 

Orchard Piper plans to relocate its head office to the top floor.

Toorak Village marks a move to mixed-use projects by the developer, which has a $1.1-billion portfolio, including $200 million in completed projects in the City of Stonnington alone.

Orchard Piper Readies $400m Project for Mercedes Benz Site
▲ The Mercedes Benz dealership currently occupying the Toorak site earmarked for a $400-million project by Orchard Piper.

Marshall White director Marcus Chiminello, who with Kay and Burton director Andrew Sahhar will market the homes, said demand for high-end residence remained high.

“We’re seeing the prestige market continually performing stongly, which defies the general negative commentary created by increasing rate hikes,” Chiminello said.

“Inventory levels for quality properties are not keeping up with the pent-up demand for downsizers looking for bespoke, lock-up-and-leave apartments in and around Toorak village itself.” 

Colliers’ Tom Larwill will manage the leasing of the two ground-floor retail tenancies while Ben Baines and Matt Knox will handle the office spaces.

Toorak pharmacist C. Wallis and Son will relocate during construction and return once the project is completed. 

The Toorak Village project is one of Orchard Piper’s four current projects in a $800m pipeline scheduled for completion over the next five years. 

Orchard Piper will also partner with Kerry Hill Architects on a $400-million mixed-use project at the Mercedes Benz Toorak site at 7-11A and 17–19 Carters Avenue. 

ResidentialRetailMelbourneAustraliaPlanningPlanningSector
AUTHOR
Marisa Wikramanayake
The Urban Developer
More articles by this author
ADVERTISEMENT
TOP STORIES
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
Exclusive

Sydney’s Fear of Heights Holding Back Housing

Vanessa Croll
6 Min
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
View All >
Build-to-Rent

BtR Platforms, Lease-Ups, Capital Go Under Microscope

David Di Marco
Real Estate

Brisbane Ghost Tower on Block as Descon Fallout Continues

Taryn Paris
Sponsored

Largest Developable Site at Narrabeen Hits Market

Partner Content
An approved envelope with height and density bonuses is offering a ready-to-go opportunity in the heart of Narrabeen…
LATEST
Build-to-Rent

BtR Platforms, Lease-Ups, Capital Go Under Microscope

David Di Marco
3 Min
Real Estate

Brisbane Ghost Tower on Block as Descon Fallout Continues

Taryn Paris
3 Min
Development

Largest Developable Site at Narrabeen Hits Market

Partner Content
3 Min
Aeon Residence Chatswood EDM
Residential

Shadows Lift as ‘Nightmare’ Chatswood Site Recast

Vanessa Croll
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/orchard-piper-toorak-village-project-approved-penthouse-sale