UEM Sunrise to launch third Australian project in 2017

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MELBOURNE (Oct 21): UEM Sunrise Bhd plans to launch a yet-to-be-named 23-storey apartment block on St Kilda Road in 2017, said managing director and CEO Anwar Syahrin Abdul Ajib. This will be the company’s third project in Australia.

The project is a redevelopment of the 21-storey Victoria Police complex which was acquired by the developer for A$58 million, said UEM Sunrise COO for commercial development, Raymond Cheah.

Cheah added that the project will comprise exclusively of residential properties, and will not be as tall as UEM Sunrise’s other two projects, Aurora (92 storeys) and Conservatory, (42 storeys), “as the rest of the buildings in the area are six to seven storeys”.

He added, “It’s a different market [comprising] more owner occupiers. They like bigger units, about 1,500 sq ft to 5,000 sq ft.”

Details such as unit sizes and prices are not yet confirmed, reporters were told at the groundbreaking ceremony of Aurora today. Aurora, which will be the tallest building in Melbourne’s central business district at 92 storeys, is the maiden project of UEM Sunrise in Australia.



Launched in October 2014, 95% of its units were sold in three weeks, and the project is now sold out. Aurora will come up on a freehold 0.8-acre parcel. It will have 941 residential units of between 43 sq m and 104 sq m in built-up area. Prices start at A$394,500. Aurora has a gross development value of A$770 million and is expected to be completed in the third quarter of 2019.

Its facilities will be spread over three levels (3,648 sq m of floor area) and include a cigar room, two gymnasiums, banquet rooms, private dining rooms, cinema and games room.

Other components include a 2,600 sq m retail space that will be linked to the City Loop rail system in the basement, and commercial offices on levels one to six that overlook LaTrobe Steet and Little LaTrobe Street.

Anwar said UEM Sunrise was still bullish on Melbourne as its demographic, population growth, facilities and infrastructure were very attractive.

He said UEM Sunrise was still surveying several potential development sites, despite interim controls implemented by the Victoria state government two months ago to avert a glut of apartments in the city centre. The controls, expected to be in place for 12 months, include introducing a plot ratio requirement of 24:1, and increasing building setbacks.