The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
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
print
Print
RetailStaff WriterMon 29 Aug 16

SP Setia Announces Plans For Telstra Site

Telstracorporatecentre_620x380

Malaysian developer SP Setia has lodged plans for a $640 million twin tower project in central Melbourne on a site it purchased from Telstra, according to The Australian Financial Review.

The two towers will reach 69 storeys on Exhibition Street, across 122,000 sqm, and are designed by architect firms Cox and Fender Katsalidis.

500 apartments and 520 hotel rooms will be spread across the buildings according to plans lodged with the state government.

Hotel facilities including restaurants and bars are included in the plan along with retail space, a ballroom, and function space. The proposal includes a 1370sq m childcare facility along with a yoga studio and pool facilities.

SP Setia acquired the high-profile site at 308 Exhibition Street - which features frontages to Exhibition and La Trobe Streets - from Telstra in May for $101 million after the telco abandoned its own ambitious plan to develop an $800 million-plus tower, according to AFR. 

The 4140sq m site was carved out of a larger holding controlled by Telstra.

SP Setia has said it plans to launch its Exhibition Street project in the second half of 2017. It estimates its gross development value will be $640 million.


Just days ago SP Setia Bhd bagged the ‘Best Employer’ award for the seventh time at the Aon Hewitt Best Employers 2016 award ceremony.

This came on top of a special recognition for its ‘Commitment to Engagement’ award.

President and chief executive officer (CEO) Datuk Khor Chap Jen said it was a huge honour for team Setia to have won the award for the seventh time.

Header image from Wikipedia 

ResidentialHotelAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
The 57-apartment proposal at Camberwell comes as Melbourne’s move toward densification gain pace...
LATEST
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
3 Min
Third.i Crows Nest Dolls House render EDM
Build-to-Rent

Thirdi Scraps Office Tower for Crows Nest Over-Station Site

Vanessa Croll
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/sp-setia-announces-plans-telstra-site