Summary:
- Panorama Investment Corporation secured approval from VCAT for a revised student accommodation project at 21-25 Bouverie Street, Carlton, after reducing the development from 29 to 17 storeys and cutting beds from 510 to 324, addressing City of Melbourne concerns on design, heritage, and amenity impacts.
- The amended plans retain the original 1928 Modern Printing Company Warehouse while allowing demolition of its 1941 extension, with VCAT ruling this partial demolition supports long-term heritage conservation and overturning the city’s earlier refusal.
- Nearby, Malaysia-based SP Setia acquired a 6561sqm site for $114 million, marking the largest local development transaction in a decade, reflecting ongoing demand for purpose-built student accommodation amid a significant shortfall in Melbourne and Sydney.
Original article:
