[U/C] Victoria Tower - 36 Grote Street | 120m | 37 levels | apartments

[gnrc_louis]

Its definitely going ahead. All over realestate.com

Been plenty of apartment projects in the past where sales haven't been sufficient for it to go ahead.

[VinyTapestry849]

Its probably going ahead. All over realestate.com

Been plenty of apartment projects in the past where sales haven't been sufficient for it to go ahead.

Do you know if that's the case now?

[gnrc_louis]

Its probably going ahead. All over realestate.com

Been plenty of apartment projects in the past where sales haven't been sufficient for it to go ahead.

Do you know if that's the case now?

I can't think of any in the last two years off the top of my head. I think the fact there's probably less CBD apartment proposals on the market than there were from roughly 2014-2018 is likely a factor.

[Ben]

Rev only three of those projects proceeded to sales, including one that commenced but the builder went broke (mayfield). Not bad at all for over 15 years. I can also think Of Opus which proceeded with sales too. Sales usually means it will happen unless they are way off the market such as the south terrace proposal where the average cost was over $800k and echelon which was aimed at 65+ year olds.

[AG]

Proceeding to tender is a pretty good indicator the developer intends to proceed with construction and that they believe they have sufficient sales and financing.

[rev]

Rev only three of those projects proceeded to sales, including one that commenced but the builder went broke (mayfield). Not bad at all for over 15 years. I can also think Of Opus which proceeded with sales too. Sales usually means it will happen unless they are way off the market such as the south terrace proposal where the average cost was over $800k and echelon which was aimed at 65+ year olds.

Just did a quick scan mate, didn't go in depth on the eventual outcome of all of them.

Pretty sure as well there's been projects listed for sale, and haven't proceeded.

[gnrc_louis]

Proceeding to tender is a pretty good indicator the developer intends to proceed with construction and that they believe they have sufficient sales and financing.

I was thinking this too. Only (recent) projects I can recall going to tender and not (yet) being built are the student tower on Twin Street and maybe the Travelodge on Betham?

[retsacerp]

Proceeding to tender is a pretty good indicator the developer intends to proceed with construction and that they believe they have sufficient sales and financing.

I was thinking this too. Only (recent) projects I can recall going to tender and not (yet) being built are the student tower on Twin Street and maybe the Travelodge on Betham?

one of the bidders is multiplex - you don't usually see them going for things that are speculative or subject to conditions.

(others are built environs and synergy, btw).

[Mpol02]

The shape and height of this should be an awesome addition to the skyline. Really hope we soo this go through.

[Cryptic]

Not sure if anyone has mentioned this but the realestate.com.au page for this project estimates a completion date of December 2024.

[ghs]

Proceeding to tender is a pretty good indicator the developer intends to proceed with construction and that they believe they have sufficient sales and financing.

I was thinking this too. Only (recent) projects I can recall going to tender and not (yet) being built are the student tower on Twin Street and maybe the Travelodge on Betham?

A few years ago palladium on light and new mayfield both had builders appointed but they never went ahead.

[Nort]

In development nothing is guaranteed until people are moving in, but I find it hard to see this not going ahead. The whole development basically gets to piggyback on the hype for the Central Markets development and I expect we'll see more in the area in coming years.

[VinyTapestry849]

New show room now on display for part of which looks like a 'studio' or a medium-sized apartment property

https://www.instagram.com/tv/CcF6gT_pDl ... _copy_link

[Cryptic]

I have contacted the developer and they indicated that construction is planned to begin in the first quarter of 2023.

[Mpol02]

Love this. I hope it doesn’t take as long as it’s mate up the road to get started