Rubbing salt into the woundIn Melbourne, Australia 108, a high-rise complex due to be finished by 2018 in Southbank, has had to be shortened. The building was originally designed to rise 108 floors and 388 metres (hence the name) but was lowered after it was revealed the building violated federal air-safety regulations for Essendon airport. The developers have now lopped 60 metres off the height, and it will now stand at 319 metres.
A108 looks less than 317m in that elevation.
Psst, the stick on Q1 is taller than the summit of A108. The article above would be more accurate if it mentioned to roof.Koh Wee Seng, chief executive of Singapore’s Aspial, yesterday declared the developer was on the lookout for more local sites as the developer launched the construction of the $1 billion Australia 108 tower in Melbourne’s inner-city Southbank.
The tower will rise 319m to become the tallest residential building in Australia.
It will boast 1105 apartments, including a penthouse that was sold to a Chinese businessman this year for $25 million — an Australian record.
Mr Koh said the group was looking to expand its Australian pipeline through its subsidiary, World Class Land.
“We are considering some sites but it depends on the opportunities. We have two sites in Brisbane, one in Cairns and two in Melbourne,” Mr Koh said.
He said the group was also considering an entry into Sydney.
“Overall Australia is a very good place,” he said. “The environment, friendly people, established people, it is a place where a lot of people aspire to stay.”
Mr Koh added that the group was not dissuaded by the federal government’s decision to charge an additional stamp duty on foreign buyers, saying he supported the measure.
“I think it’s a good thing for the market and we feel the government is doing a good thing for the country,” Mr Koh said.
Brookfield Multiplex is the builder of the project, while the design was created by Fender Katsalidis Architects. CBRE handled the off-the-plan sales campaigning.
CBRE managing director of Victorian residential projects Andrew Leoncelli said there were only 25 apartments remaining to be sold. “We’ve got a selection of the three and four-bedroom product remaining,” Mr Leoncelli said.
“The CBD continues to get huge demand for investors and the international market.”