Goldfields will move ahead with its $270m plans to build a mixed-use tower in Windsor’s west despite any threats posed by the market.
Goldfields’ next venture, Raleigh Place will tap into the luxury market once again, building a 12-storey tower over 4,500 sq m.
The tower will comprise 300 high-end apartments and 2,500 sq m of space for new retail and hospitality outlets.
The site is located on Punt Road adjacent to High Street and St Kilda Junction and was acquired from Jewish Care Victoria for $35m when the aged care organisation closed due to the global pandemic.
CEO of Goldfields, Lachlan Thompson has been quoted saying that the acquisition of the site was a rare opportunity for the group to revitalise the under utilised corner of their newly acquired site.
He said, “For decades Windsor’s west end has been hiding in plain sight, consistently overlooked .. Melbourne has grown up around it.”
Construction of Raleigh Place is estimated to commence in early 2022 with an estimated completion of late 2023.
In 2019, we reported that approvals for a new office tower on Chapel Street, South Yarra had been granted for Goldfields to develop a $300m tower which was built by Icon.
It is expected that Icon co will be amongst the group of builders that tender for this project.
Goldfield’s plans are subject to council approval and the luxury apartments are not yet available for sale.
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Image source: Sydney Morning Herald
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