Developer Salvo to begin demolition for major Southbank project

Developer Salvo is set to begin demolition work in Melbourne’s Southbank, marking its first project since the pandemic.

The development, a 56-storey residential skyscraper named Moray House, is located at 42 Moray Street. This project highlights Salvo’s commitment to addressing the housing demand in Melbourne, where over 16,000 homes are needed in the next three years.

GALLERY  

Architects Rothelowman have designed Moray House for the 1200sq m island site, which Salvo acquired in 2017 for $16 million. The development will feature three podiums, with the first 10 floors dedicated to a reception area, cafe, bar, and office space. Additionally, the building will house a variety of amenities, including a day spa, yoga room, pool, gym, private dining rooms, residents’ lounges, and outdoor terraces. The 10th floor will cater to the growing trend of flexible work environments, offering co-working facilities with 40 hot desks, meeting rooms, and collaboration zones.

The skyscraper will include 305 apartments, available in one, two, and three-bedroom configurations, as well as two double-storey penthouse suites on the top two floors. This diverse range of living options is designed to appeal to a broad market, from young professionals to growing families.

James Maitland, managing partner at Salvo, emphasized the importance of this project in contributing to Melbourne’s housing supply. “There is limited developable land left in Southbank and the CBD fringe,” Maitland said. “Coupled with changes to planning controls, apartment supply is likely to be constrained for the foreseeable future.”

According to Charter Keck Cramer, only 2600 apartments were launched in Melbourne in 2023, the lowest figure in a decade. In this context, Moray House represents a significant addition to the city’s housing stock. Salvo has already secured $150 million in pre-sales, with 240 of the 305 apartments sold. The entire project is valued at $220 million.

Construction for Moray House is scheduled to commence later this year, with completion expected by late 2026. As Salvo embarks on this ambitious project, the developer aims to play a crucial role in meeting Melbourne’s housing needs while revitalizing the Southbank area.

Images via The Urban Developer

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