- The 34 Eastern Road site was acquired last year for circa $12 million
- Construction is set to commence this June
Developer Fortis, which falls under the parent company of Pallas Group, has announced the securement of consent planning approval for its 34 Eastern Road project in South Melbourne.
The approved plans feature wellness-focused amenities for tenants including a fully equipped gym, sauna rooms and bathroom suites. Designed by Fieldwork Architecture and private cascading landscaped terraces with curated landscaping by Openwork.
The building will feature a ground floor retail activation with seven premium office space levels, comprising of around 3,830 sqm of net leasable area. There will be two levels of basement parking for tenants.
Fortis acquired the 855 sqm site last year for circa $12 million.
“City-fringe properties such as 34 Eastern Road are becoming increasingly desirable by organisations as their employees seek to work closer to where they live and socialise,” said Fortis director, Charles Mellick.
“Our development of 34 Eastern Road in South Melbourne is a response to the strong demand for premium boutique offices that offer enviable composition of location, quality and amenities.”
The site is located two kilometres from the Melbourne CBE and near the St Kilda Road office precinct. Additionally, it is near the upcoming ANZAC metro station, the Coventry Street and Clarendon Street retail districts, along with the South Melbourne Market.
Construction is set to commence this June.
Currently, Fortis has an end value of $3 billion for projects either under construction or under a planning proposal.
Fortis also acquired two new sites in Richmond and South Melbourne for $26 million earleir this year.
