Montague development driving Fishermans Bend

The Montague Precinct continues to provide optimism for future development in Fishermans Bend, with another sod turned on a new development in Thistlethwaite St last month.

Construction of the new Lilix development at 51-59 Thistlethwaite St is now underway, with Spec Property, a development arm of Samma Group, marking the milestone with a sod turning ceremony on March 13.

The event was attended by chair of the Fishermans Bend development board Meredith Sussex and general manager of the Fishermans Bend taskforce Paul Byrne, who moved earth alongside Spec Property director Simon Abdelmalak.

Mr Abdelmalak described the ceremony as a significant endorsement in the government’s vision to create a beautifully designed urban renewal area for Fishermans Bend.

“As a developer, we are excited about the opportunities in Fishermans Bend and Lilix will be a significant project in the Montague Precinct,” he said. “As construction has begun on Lilix, Spec Property is getting on with the process of creating something special at Fishermans Bend.”

“Spec Property strongly believes in the future vision of Fishermans Bend and in total we have over $250 million worth of development planned for this precinct and we are looking forward to working with government on progressing our plans.”

The $61 million Lilix project, which will include 94 apartments, is already more than 80 per cent sold, according to the developer. It’s the newest project and the first development to begin construction in Fishermans Bend since the state government introduced new planning controls.

While the state government’s decision to freeze 26 planning applications in February 2018 has seen development stagnate across the precinct since the new controls were introduced in October, development in Montague continues.

The few unfrozen applications to have submitted amended plans are all located in Montague, namely Normanby Rd.

Speaking to Southbank Local News last month, Meredith Sussex said that developers felt that Montague and South Melbourne represented an “extraordinary development opportunity right now”.

Since the completion of the new South Melbourne Primary School and Kirrip Park on Ferrars St, development has ramped up in the precinct, which is also well serviced by public transport.

Construction has started on developments on the corner of Boundary and Thistlethwaite streets, the corner of Thistlethwaite and Ferrars streets and at 202 Normanby Rd. These will follow the already-completed Gravity Tower and Nightfall developments on Gladstone St.

Marketing also continues to ramp up for a number of other projects, including Fifteen85 (15-85 Gladstone St), South (15 Thistlethwaite St) and Normanby (199 Normanby Rd), which are all due to start construction this year.