Melbourne’s Crema Group is redeveloping the iconic Pink Palace brothel in South Melbourne into a $150 million boutique 36-apartment development.
The iconic Pink Palace brothel, which operated for 30 years, will be demolished to make way for the 18-storey tower. In the interim, the developer is using the building for full-sized replica sub-penthouse and gallery.
The 908sq m site was acquired by Crema in 2017 for $15 million, winning approval for the residential scheme — dubbed “The Eighth” in mid-2018.
Designed by former Elenberg Fraser architect Peter Kennon, The Eighth will deliver 36 apartments and 3,000sq m of office space over four levels. The developer will retain management rights of the building.
“Each floor within the residential tower comprises no more than four generous corner residences, with every single residence having private lift access into curated private lobbies, which is a first in Melbourne,” developer Nicolas Crema said.
The 8-16 Palmerston Crescent site in Melbourne’s Domain Precinct will benefit from the future Anzac Station, which is on track to be completed by 2025.
“The way people in Australia are living is changing, and ‘real life’ is not now confined to what happens outside of traditional office hours anymore,” Crema said.
“The Eighth reflects this shift and facilitates the interconnected life many people are seeking,” Developer Nicolas Crema said
The luxury whole-level apartments will start at $1.5 million, construction is expected to commence by the end of the year.