City Beat September 2023: Gold Coast unit values pass $700k after continued 2023 growth

The last week has provided news on a number of pending towers seeking their place in the skyline. Provided below is a summary covering six marquee projects, with each edging closer to reality.

Fresh off Bates Smart's Instagram account is the first image for the reworked 555 Collins Street. First covered by Urban.com.au earlier in the month, developer Fragrance Group has been granted approval to proceed with the tower which would hold up to 625 apartments.

Gone is the vacant commercial tower onsite, and in its place rises a curvaceous form with a pleated exterior.

Moving on, Tong Eng Group have shown firm intentions regarding their tower at 111-125 A'Beckett Street which they have christened Myriad Melbourne.

Myriad, centrally located along the northern edge of Melbourne's CBD, is the next iconic landmark along A'Beckett Street. Designed by award-winning architect Elenberg Fraser, the striking residential tower will retain its heritage frontage while its elegant tower provides magnificent views of the bustling Melbourne CBD.

Myriad is poised to be the new benchmark for natural luxury. Watch this space.

Tong Eng Group

The Singaporean developer's first Australian foray, Myriad has yet to receive the sign off from the Planning Minister. It seems that once they do, sales won't be too far behind.

Also in the CBD, Aurumstone Group have been revealed as the purchaser of 295-309 King Street. CBRE City Sales successfully negotiated terms for the 1,292sqm site, which also has approval for a Plus Architecture-designed 66 level residential tower.

While Aurumstone is pursuing a hefty 60 level skyscraper in New York, 295-309 King Street is a significant step up for the developer whose projects across Melbourne to date have been relatively modest.

Knight Frank have been appointed as the selling agent for 1 Queensbridge Street.

With formal approval yet to be given, Urban.com.au's forum is flush with expectations that final approval will be announced shortly. Coupled with an expanded Crown Hotel presence, 1 Queensbridge Street's height and sheer width provide it with a dominating presence.

Ultra-luxury is the target market for the project which is a joint exercise between Schiavello Group and Crown Limited.

The Australian on Friday reported that a syndicate of Asian investors is close to unveiling plans for a premier hotel and apartment development directly behind 1 Queensbridge Street. For those readers not willing to wait, Urban.com.au has already unveiled the revised plans for 38 Freshwater Place, with the 273 metre tower looking to replace a vacant site.

Finally, while it may be comparatively small in stature to the above projects, Box Hill's 845-851 Whitehorse Road is all but assured of packing a wallop relative to its surrounds.

City of Whitehorse granted the project a Notice of Decision last Monday, all but formally approving the hulking scheme which includes hundreds of apartments set above a 150-suite hotel. With an actual permit in the offing, Spotlight Development Group's focus can now turn to the next phase of the project.

At 117 metres, 845-851 Whitehorse Road will rank among Box Hill's tallest towers.