Melbourne Square: The development bringing buyers back to the CBD

“If you build it, they will come” has never been a more apt sentiment in Melbourne’s property market. CBD developers are celebrating the return of office workers and weekend visitors as the city shakes off the memories of lockdown emptiness. With the effects of the pandemic receding in the rear-view mirror, the re-emergence of city home buyers looms larger in the foreground.

Construction of the first stage of the massive $2.8 billion Melbourne Square project in Southbank has recently been completed. It contains more than 1000 new residences, which are crowned by a collection of luxury penthouses and premium properties.

Ranging from $1.3 million up to the penthouse at $23 million, these homes have been launched with post-lockdown market timing.

“People will come back to the city and they’ll want these sorts of spaces to live that city life again with the arts precinct on your doorstep and the sports precinct across the road,” says Scott Jessop, sales and marketing director at developer OSK Property.

Among the 41 premium apartments in the Skyhome Series are 10 sub-penthouses and one two-storey “cold shell” penthouse. As the name implies, cold shell apartments have not been fitted and finished, and are aimed at purchasers who want full control of their floor plan.

Spread across levels 67 and 68 of Melbourne Square’s East Tower, the expansive 1185-square-metre penthouse can be customised to the purchaser’s wishes.

To sweeten the deal, OSK Property is selling it with a $1 million interior design package in a collaboration with Australian furniture brand Coco Republic. Buyers of premium apartments valued between $1.3 million and $1.8 million will receive $50,000 towards furnishing and styling, while sub-penthouses priced at between $2.1 million and $4.7 million will come with an $80,000 package.

The developer is offering a turnkey product to buyers. This luxury service means there’s no need to call in tradespeople or move in furniture because it will be organised beforehand.

“We felt that, especially at this high end, people want that extra care,” Jessop explains. “They don’t want to buy an apartment and then be stuck doing their own thing.”

The cold-shell penthouse must go through a construction tender process that isn’t covered by the $1 million. Instead, the generous interior design package can be spent on everything in the fixtures and fittings bill, from tiles to pillowcases, appliances to couches.

“The unique thing with this being a cold shell is no rules apply because everything – down to the wall tile and the floor tile – can be completely different to anything else in the building,” Jessop says.

“And then having that experience from Coco Republic who do that design service all the time. Preparing the documentation process for a builder to actually price it is also quite challenging and it needs that expertise.”

Coco Republic commercial manager Stephanie Sanders says the experience will be tailored to purchasers and their unique requirements.

“We expect that the people who buy a skyhome are most likely busy people, so we will do a full bespoke interior design service,” she says.

“So, we’ll have their bespoke floor plan, we’ll go through with them their lifestyle [and] talk to them about how they plan to use the apartment: is it a permanent residence; is it part-time; do they live in Melbourne or interstate?

“Just really then homing in on what they want to use the apartment for and get out of it and we’ll then put together a bespoke scheme using the Coco Republic range.”

Melbourne Square

29 Balston Street, Southbank, VIC 3006

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Four display suites have been curated at Melbourne Square to show off Coco Republic’s styling and furniture ranges.

Potential buyers will also have the chance to inspect the plush amenities at the development, which include a resort-style outdoor lap and wading pool, a sun terrace, an indoor pool with views over Melbourne, a sauna, yoga studio, music room, gyms, golf simulator, cinema, private dining areas and kitchen facilities.

“So, we’ll have their bespoke floor plan, we’ll go through with them their lifestyle [and] talk to them about how they plan to use the apartment: is it a permanent residence; is it part-time Melbourne Square is home to something of an urban oasis: a 3700-square-metre park that will add greenery to the four apartment complexes, commercial building and hotel that make up the development. The park will be open to the public and feature European-style piazzas along with outdoor terraces and a network of footpaths to connect the buildings.