The resulting permits will see the delivery of two significant towers consisting of 52 and 25 levels, both to be designed by Fender Katsalidis, that will stand proudly on one of Southbank’s most prominent city blocks.

The two sites were purchased from Crown in 2023 and occupy the same city block as the iconic casino complex, acquired in an on-market transaction consisting of multiple titles that were being used as warehouses and low-rise office space.

LAS Group’s successful planning approvals are among only a select few new development sites in Southbank to receive a permit in the last three years, as appropriate sites become even more scarce in the popular city-side location, underpinning the demand for quality apartment stock in one of the city’s most vibrant locations.

The projects will enjoy immediate walking access to Crown Casino, South Wharf, the Aquarium, Southbank and the wider Yarra River walk precinct that features a plethora of restaurants, bars and other hospitality and entertainment offerings.

The Fender Katsalidis-designed towers will feature intricate brick masonry and arched windows at street level that will add character to the Southbank streetscape, with sleek towers rising above each podium.

LAS Group Director and Founder, Les Smith, says the planning approvals had come at a time when confidence was returning to the market and the need to deliver quality apartment stock in Melbourne’s inner suburbs was becoming critical to help ease the housing and affordability crisis.

“These planning approvals are the outcome of a collaborative process with multiple stakeholders, and we are grateful for the involvement and support of Melbourne Water, the Department of Transport and Planning, Melbourne City Council and the Property Council of Australia along the way,” Smith says.

“We have a huge affinity for Melbourne and believe the macro and microeconomic factors that underpin long-term growth mean it is currently undervalued compared to other capital cities around Australia.

“Confidence is starting to return given the recent interest rate drops and the buoyancy in the economic climate, so we believe the time is right to bring these two new projects to market in the coming months.”

At 101 Clarendon Street, Southbank, the development will comprise 509 apartments across 52 levels, with a gross realisation value of $511 million and completion scheduled for 2029. Resident amenities will include a lounge, private dining room, podcast room, golf simulator, co-working spaces, pet care facilities, and an outdoor terrace.

At 38 Clarke Street, Southbank, the project will feature 188 apartments over 25 levels, with a gross realisation value of $187 million and completion expected in 2028. Amenities for residents will include a pool, gym, cold plunge, and sauna.

Through the planning process, LAS Group has successfully unlocked significant development value via purchasing the development air rights above the Crown Casino car park to increase one of the project’s footprints.

LAS Group has a long history of developing key sites across Australia, including The Fawkner on St Kilda Road and Guild Apartments in Southbank, as well as holding significant interests in retail, mixed-use and storage facilities across Australia.

LAS Group General Manager, Mia Smith, says the design intent was to bring a sense of place to Southbank from the ground level and contribute positively to the thriving entertainment precinct, while delivering good quality, affordable stock to the market.

“These projects will deliver product that is affordable and accessible, while delivering a beautiful building with luxury appointments, in a wonderful location that’s next door to Crown Casino and the Southbank entertainment precinct, and on the doorstep to the CBD,” she says.

“We are incredibly pleased with the designs that Fender Katsalidis have proposed and we are excited to make a positive impact to the urban design of this important pocket of Southbank with these exceptional design outcomes.”

Renders supplied

Clémence Carayol

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