Yarra River to get $450m mixed-used development

Yarra River to get $450m mixed-used development

17 August 2018

A historic goods shed occupying the last wedge of commercial space along the Yarra River in Melbourne’s CBD will be the centrepiece of a new $450 million hotel and apartment project, reports the AFR.

The project, named Seafarers Place, plans to connect the CBD and Docklands and revitalise the disused industrial waterfront site with a 5-star luxury hotel with 280 rooms, 150 apartments and a 1000-seat function centre.

While an operator has yet to be announced for the hotel, Property developer Riverlee Group confirmed that it will be a “new brand” for Melbourne.

A 3,500 square metre public park will be created through the development along with work on the historic wharf and restoration of the site’s heritage-listed crane.

The site’s historic Goods Shed known as ‘Shed 5’ will be restored and repurposed into a premium waterfront event space, designed to celebrate and highlight its grand original roof trusses.

Riverlee Group acquired the Northbank site, located between Spencer Street and Charles Grimes Bridge, three years ago from the state government for $28.5 million.

Seafarers Place got City of Melbourne approval in February and now the state Planning Department has given the project the green light.

The project’s architecture has been designed by Fender Katsalidis while Oculus is responsible for landscape design.

Fender Katsalidis inherited the project after a proposed change of use from commercial to residential.

Riverlee’s development director David Lee said the “never-to-be-built-out views of the Yarra River and Docklands Park” would “transform into a world-class waterfront precinct bridging Melbourne CBD and Docklands.”

“The open spaces and public park are designed to give the waterfront back to the community and celebrate the unique character and history of the site,” he added.

Wharf and crane restoration works have started with the construction of the new hotel due to start mid-2019.