Developer Sterling Global to turn Rich Lister Bruce Mathieson’s Collins St site into $420m hotel, apartment towersPosted by On


Sterling Global, whose $1.6 billion project pipeline includes residential projects in South Yarra and Toorak, got the keys to the properties in March and has lodged a planning application with the Victoria Government’s Department of Transport and Planning, and the City of Melbourne.

The proposed 42-level “glass bladed” twin tower designed by Carr Architects will be set back from the heritage podium and have separate entrances for the residential and commercial spaces. It will include 175 one-, two- and three-bedroom residences, eight sub-penthouses and penthouses, above a 229-room hotel and 2735 sq m of commercial space.

Sterling Global plans to restore the heritage facades of the bank building as well as refurbish the existing banking chamber.

Sterling Global director Brandon Yeoh said the site was a “fantastic location” that was best suited to a mixed-use development, which was the “direction the city was moving in”.

Incorporating both hotel rooms and apartments, as well as a food and beverage offering, would ensure the new development would be utilised fully, Mr Yeoh said.

The company will seek out an “upper-scale lifestyle hotel operator” to manage the hotel should the project get the green light.

It will add to the ongoing revitalisation of the Western end of Collins Street, in particular the city blocks on either side of Collins Street between Spencer and King streets.

Projects in this precinct include Charter Hall and GIC’s $800 million premium office…

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