27-level, 336-apartment project known as ‘Vista’ approved for South Yarra site
A rare 2,125sqm permit-approved residential tower site in set to hit the market in Melbourne’s most successful apartment precinct.
Colliers International’s Trent Hobart, John Marasco, Hamish Burgess and Ted Dwyer in conjunction with CBRE have been appointed to sell a 2,125sqm site at 16-22 Claremont Street in South Yarra of behalf of a private vendor.
Mr Hobart said the site had recently been awarded an approved permit for a 27-storey tower, known as ‘Vista’, comprising 336 apartments above ground floor retail and podium level offices. The project has been designed by internationally renowned architects Fender Katsalidis.
“This major South Yarra landholding is a rare offering, even before the permit is taken into consideration, with two substantial street frontages of 51.82m on Claremont Street and 16.6m to Daly Street,” he said.
The permit itself is for an extraordinary elliptical building which capitalises on breathtaking views over leafy South Yarra, across to the Melbourne CBD skyline.
“The location is second to none, within Melbourne’s most successful apartment precinct where the median house price currently sits at $1.65million,” Mr Hobart said.
“The site is surrounded by South Yarra’s stunning parkland areas, the Yarra River, luxury retail and an abundance of popular dining options on Toorak Road and Chapel Street."
‘Vista’ is situated just 2.5km from the Melbourne CBD and is easily accessed by the nearby South Yarra train station and trams on Toorak Road. There is direct pedestrian access between Yarra Street and Claremont Street, through to Daly Street and on to Chapel Street.
Above: Artist impression