As Melbourne continues to grow, the conversation around development is shifting. The question is no longer simply how many homes or commercial spaces can be delivered on a site, but what should be preserved in the process.

For Sterling Global Director Brandon Yeoh, the future of development lies in creating places that respect a city’s past while contributing to its future.

“I don’t think the first question is, ‘What can we build?’ But rather, ‘What makes this place unique?’” says Yeoh. “Every site has its own history, context and character. Sometimes that’s expressed through a heritage building, sometimes through its role in the city or the way people experience it. Those are the things that deserve to shape the future of the site.”

623 Collins Street, Collins Street elevation

Yeoh says his perspective has evolved over time, from seeing development as simply creating something new to recognising that the most successful projects often begin by understanding what already exists.

“Developers have traditionally been measured by the scale of what they deliver, but increasingly they’re being judged by the quality of the places they leave behind,” he says. “Every development becomes part of the city’s fabric long after construction is complete. As developers, we’re not just delivering buildings, we’re shaping neighbourhoods, contributing to the character of our cities and leaving a legacy for future generations.”

Yeoh believes this shift is changing the way developers approach heritage buildings, which have traditionally been viewed as constraints rather than opportunities to create places with greater depth and authenticity.

“Heritage gives a project authenticity that simply can’t be recreated. Buildings like the State Savings Bank carry stories, craftsmanship and a sense of permanence that become defining qualities of a development. Rather than viewing heritage as something to work around, we see it as something to build from.”

623 Collins Street, Spencer Street elevation

That philosophy underpins Sterling Global’s vision for 623 Collins, where the former State Savings Bank building is being restored and integrated into a new mixed-use residential development — demonstrating how heritage and contemporary architecture can work together to create a richer urban outcome.

“It forced us to think differently,” says Yeoh. “We were able to create a dialogue between heritage and contemporary architecture. That relationship influenced not only the architecture but also the project’s identity and overall experience. The result is something far richer than either approach could have achieved independently.”

623 Collins Street, Level 6 private dining

Yeoh acknowledges that working with existing buildings is often more complex than starting again, but says those challenges ultimately produce better cities.

“Adaptive reuse is inherently more complex than starting again. There are commercial considerations, engineering challenges and design constraints that require careful collaboration,” he says. “But those challenges also produce better outcomes. They encourage more thoughtful design and ultimately create developments with greater character, authenticity and longevity.”

623 Collins Street, sub-penthouse master bedroom 623 Collins Street, apartment living room 623 Collins Street, Level 6 wellness pool area

As Melbourne continues to accommodate significant population growth, Yeoh believes the city’s future depends on balancing density with the preservation of the places that define its identity.

“Population growth doesn’t mean choosing between density and heritage. Cities can continue to evolve while retaining the buildings that give them character. The goal shouldn’t simply be to build more, but to build places that future generations will also see as worth keeping.”

623 Collins Street, lobby lounge

Sterling Global will participate in Open House Melbourne this year, sharing the vision behind 623 Collins and exploring the role heritage-led development can play in shaping Melbourne’s future.

Main image: 623 Collins St, Sterling Global / Fiona Lynch / Plus Architecture / Exterior Podium - Spencer St.

Brandon Yeoh is Director of Sterling Global, a Melbourne-based property development group with a portfolio valued at over AU$300 million and a development pipeline exceeding AU$1.6 billion. Images: Fiona Lynch / Plus Architecture for Sterling Global.

The future of development isn’t deciding what to build — it’s deciding what’s worth keeping

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