Melbourne's The Fawkner to go residential

MELBOURNE (May 12): Standing at 18 storeys high, Fawkner Centre on the premier boulevard of 499 St Kilda Road in Melbourne, Victoria, will undergo a transformation from October to change its purpose from commercial to residential following the recent acquisition by real estate investment manager Qualitas.

In a joint venture with LAS Group, the landmark building, which currently houses office tenants, will undergo re-development works in a project dubbed “The Fawkner”.

The A$300 million (RM860.53 million) transformation will maintain the building's form but the office units will be stripped down into 248 units of one-, two- and three-bedroom apartments, alongside five penthouses.

Qualitas managing director-Real Estate Principal Investments, Mark Fischer said The Fawkner is largely driven by a desire to cater to the owner-occupier and downsizer market who appreciate generously sized apartments with excellent amenities and a standard of finish that is expected of St Kilda Road apartment developments.

"This is somewhat an irreplaceable location and a rather unique opportunity to have [a] residential [project] connected directly to Fawkner Park.

"Ideally, the purchaser profile for a project like this is going to be someone very discerning, someone who has lived in quite a nice family home and is seeking a very clever and intelligent floor plan and strong level of finishes in the project," Fischer was quoted as saying in a Melbourne report.

Fischer said the floor plans needed reconfiguration – a project to be undertaken by Kerry Phelan and her design team at Kerry Phelan Design Office (KPDO), a bespoke architectural firm and interiors practice.

"Obviously, we’re going through a conversion of an existing office building to high-end residential, so you really need something to be done with the façade to tie in with what we’re trying to achieve in terms of product quality," Fischer added.

Sitting on a 6,070 sq m site, The Fawkner will get a new reflective glazed façade and feature five-star, hotel-like amenities.

It is a short distance from Melbourne's CBD and residents will be able to explore the city's array of dining, shopping and entertainment opportunities.

The Fawkner, surrounded by green spaces of The Royal Botanic Gardens and Albert Park, is located near tram services, which will also allow its residents to sample the boutique shopping experience of South Yarra's Toorak Road and Chapel Street.

The building features a residents lounge, gym, sauna, spa and steam room, pool and terrace overlooking St Kilda Road, privileged access to Fawkner Park, concierge service and a porte-cochere entry.

Prices begin at A$435,000 for a one-bedroom apartment, A$770,000 for a two-bedroom and A$1,170,000 for a three-bedroom unit. To date, approximately 40% of the development has been sold.

The tower is bounded by Fawkner Park and the trees of St Kilda Road, establishing a parkland setting. Meant to be viewed against the sky and across the park, the tower's façade responds to the seasons and the day, including the drama of changing light and skies.