One of the last permitted sites for residential development within the St Kilda Road precinct has been listed for sale at 200 Wells Street, South Melbourne.
Situated on a corner site with 3 prominent street frontages it is offered with an approved permit for the construction of a 20-storey residential tower comprising 174 residences, 3 retail outlets and associated parking. It is designed by Melbourne architectural practice, Artisan Architects.
The new Melbourne Metropolitan Rail Project, which is currently under construction, will substantially enhance commuter connectivity to the location.
The 1,543 sq m site has an approved permit for 174 residences over 20 levels, 197 car parks, 197 bicycle spaces, 175 storage facilities and a ground floor retail component of 300 sq m.
Artist's impression of permitted residential development at 200 Wells Street, South Melbourne.
Currently the site is occupied by an older style one and two level office/warehouse which was originally constructed in the 1930s. The building has been refurbished in recent years and converted to quality office accommodation throughout. The property is leased to two quality tenants.
The opportunity is being offered through Lemon Baxter, South Melbourne in an expressions of interest campaign closing 24 August, 2017.