Australian retail property group Vicinity Centres and Golden Age Group have started construction on A$450m (£250.9m) three-tower luxury residential scheme, Sky Garden, atop The Glen shopping centre located in south east Melbourne, Australia.
The Glen shopping centre is currently undergoing redevelopment phase with an investment of A$430m ($239.7m), with the next retail stage planned to be launched in August 2019.
Golden Age Group has acquired the residential site from Vicinity and commenced construction on the Sky Garden, which will feature a 4,000m² ‘garden in the sky’ that serves as community meeting place for residents.
Vicinity CEO and managing director Grant Kelley said: “The Glen’s residential project, Sky Garden, marks a new era as this is Vicinity’s first residential mixed-use project and Australia’s biggest residential project being built over a retail destination.
“We are proud to partner in this landmark project with Golden Age Group – it is a very significant and ambitious mixed-use project, which is now under construction with a combined value close to $1 billion.
“This residential project is in line with Vicinity’s strategy to create market-leading destinations and deliver enhanced value for securityholders by realising value from mixed-use opportunities such as offices, hotels and apartments, at our flagship and high potential centres.”
Designed by Rothelowman, DKO Architecture and ASPECT Studios, the Sky Garden will house approximately 1,550 residents upon completion.
National builder Probuild is the construction contractor for the Sky Garden development, which is expected to create up to 500 jobs construction jobs.
Vicinity chief development officer Carolyn Viney said: “Sky Garden and The Glen fuse living, working, dining and shopping and just 30 minutes by train from the CBD. Sky Garden offers an unparalleled lifestyle option for people who want to live in Melbourne’s south east.”
Planned to be completed in 2021, the Sky Garden multi-use development comprise more than 500 one-, two- and three-bedroom apartments.
It will also feature amenities such as outdoor terraces, private cinema, private dining room and terrace, yoga studio, gym, pool, a sauna, steam room, library and study areas.
Golden Age Group founder and managing director Jeff Xu said: “Sky Garden’s 4,000 square metre rooftop garden is comparable in size to an inner-city Botanic Garden.
“The gardens are multi-functional, created with purpose and tailored to all different lifestyles and needs.”