Cbus Property, the property investment arm of industry superannuation fund Cbus, has made it’s second off-market purchase this year buying a new site in West Melbourne and has plans to redevelop the property with a new high quality residential project.
The island site located at 9-19 Dryburgh Street and 109-121 Ireland provides a unique opportunity to construct a place making apartment building with ground level retail shops that will assist in activating the area around the newly constructed North Melbourne train station.
Located in close proximity to North Melbourne and the CBD, the apartments in the development will appeal to young professionals and academics working or studying in the nearby health and university precincts.
Cbus Property will now commence design of the project with an aim to submit drawings for planning approval by September this year to enable marketing to commence around mid 2015.
The development will complement Cbus Property’s other current residential projects in Melbourne being 35 Spring Street which is currently under construction, and the recently acquired Assembly development in North Melbourne which will commence marketing and sales in June this year.
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