Property development group Fortis has submitted plans to the City of Port Phillip on what will become a premium commercial space in South Melbourne.
Located at 313-317 Kings Way, the developer recently acquired the site for approximately $ 5 million, and hired Elenberg Fraser and landscape architects OpenWork to design the space. A unique pentagonal island, the site will include three street facades on Kings Way, Kings Place and Cobden Street, and it will offer a combination of luxury apartments on the entire floor of a total of approximately 4,600 sqm net lettable area.
The development, funded by non-bank lender Pallas Capital, will include 18 levels of premium office space with food and beverages on the ground floor and an extensive roof terrace on the roof terrace. The potential building will also offer uninterrupted views of Albert Park, Port Phillip Bay and the CBD, basement parking and dedicated end-of-trip facilities for renters.
Fortis director Charles Mellick says the purchase of the site is promoting his footprint in south Melbourne.
Fortis has acquired approximately $ 33 million in commercial fringe assets in South Melbourne since 2020. These assets will have an expected final value of approximately $ 180 million once developed. Kings Way is one of the four projects we are currently developing at this location in response to the robust demand for high quality office space in urban areas. With an expected final value of $ 65 million, we are confident that the project will be a valuable addition to the commercial market in Melbourne once completed, ”he says.
Located two kilometers from the Melbourne CBD, South Melbourne is an ideal location on the outskirts that has easy, direct access to arterial roads and important business areas. The site is also located a short walk away from the upcoming ANZAC tube station, Coventry Street and Clarendon Street retail districts and the South Melbourne Market.
For more information on the future commercial area as well as other Fortis projects, visit fortis.com.au.