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New tower proposed

10 Jul 2018

New tower proposed Image

Star Auto Properties is proposing a mixed-use tower for the corner of Sturt St and Kings Way.

The proposed tower will incorporate office space with a car showroom, following the broader trend of using inner-city sites for mixed-use projects. The showroom will likely be for Mercedes-Benz. The development is currently valued at $246 million.

The property was bought from the University of Melbourne for $52.1 million at the start of last year. Star Auto Properties is controlled by Lei Shing Hong, a Cantonese conglomerate who is also the world’s largest distributor of Mercedes-Benz and also controls Mercedes-Benz Melbourne.

The site is currently used as parking space next to public greenery, and is across the street from a Mercedes dealership at 135 Kings Way. The company has planned for a 22-storey, 82.4-metre tower with a podium with around 37,459 square metres of leasable office space.

The application shows the building will also include display areas, an artist studio workshop and various retail, food and drink premises.

The proposal is still being preliminarily assessed.

 

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