- Oreana Group has lodged a development application with plans for a $250 million project
- Plans include the preservation of historically significant buildings
- Construction is expected to generate up to 500 jobs during construction
A planned $250 million project will see commercial, retail and hospitality development at a historical site in South Yarra.
The property investment group, Oreana, has announced its lodgment of a development application for the project which is hoped to break ground in early 2024.
The 2474sqm site is home to historically significant buildings with Italianate and Tudor facades. Oreana Group managing director Steven Sass said the company recognised the importance of celebrating the history of the site.
“The site has a rich heritage which we intend to honour through the creation of a beautifully designed precinct that is truly South Yarra.”
Mr Sass said Oreana had carefully considered the design of the project to ensure it met and exceeded community expectations.
The development, designed by architecture firm Fender Katsalidis, will see the heritage buildings feature boutique retail stores, function and event spaces, and bars and restaurants.
Nicky Drobis, director at Fender Katsalidis, said the development sets a great example for the adaptive reuse of heritage buildings.
“The design shows how heritage infrastructure can be fused with new built forms to create growth, renewal and enhanced urban design outcomes,” she said.
“By adding to the surrounding built environment in a considered way, we are able to frame the Italianate building in a new light, honouring its historic significance.”
Mr Sass said the plans offered an exciting new vision for the popular South Yarra Square site which was developed in the 1980s.
“This development will transform the site into a 24/7 hub for retail, hotel and office workers, hotel guests, shoppers, and bar and restaurant patrons,” Mr Sass said.
“At the same time, there will be considerable economic benefit from the creation of an estimated 500 jobs during construction with a further 100 jobs created when the hotel and hospitality venues open.
The project also includes a116 room hotel, offices with end-of-trip facilities, a day spa and wellness centre, along with city views from a terrace pool on level eight.
The development will feature lush greenery through the common areas as well as a modern high-end look with slim profile brickwork, metal bronze cladding and glass.
“The offices will also be home to approximately 780 employees and the hotel, which will be one of the only luxury hotels in South Yarra, is expected to attract 50,000 local, interstate and international hotel guests per annum and will inject millions into the local economy.”
“South Yarra has huge potential and we’ve already seen a number of new projects launched in the past five years. This project adds another innovative dimension to the local offering.”
Construction is hoped to kick off in early 2024 and is estimated to take circa 24 months
