Cbus Property has selected a builder to deliver its $300 million luxury residential development on Spring Street, Melbourne.
Hacer Group aims to commence works on the building this year, marking the companies second venture with Cbus Property.
Cbus Property’s Chief Executive Officer, Adrian Pozzo, said the team was pleased to again be partnering with the Hacer Group on 17 Spring Street.
“Cbus Property, together with the Hacer Group, is excited to be delivering another outstanding development to the east end of Melbourne’s CBD following the success of 35 Spring Street,” he said.
“Purchasers have recognised the unique opportunity of 17 Spring Street’s unrivalled location and exclusive offering, and we are confident the Hacer Group will complete the high-end product with the utmost attention to detail and finish.”
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The development aims to be the first C270-compliant residential development since the Victorian Government introduced new planning controls to guide central city construction, particularly for projects in the Hoddle Grid and Southbank.
“In collaboration with Bates Smart, Cbus Property has designed a project of global standards to enhance the top end of Melbourne’s CBD and promote the long-term liveability of the central city, overlooking the Treasury Gardens and complementing the civic buildings along Spring Street,” Pozzo said.
It will comprise of a mixture of two- and three-bedroom apartments, ranging from 105 square metres to 160 square metres, and 134 square metres to 245 square metres respectively.
The development is part of Cbus Property’s $2 billion residential pipeline across Melbourne, Sydney and Brisbane.
Construction is expected to be complete by mid-2022.