Collingwood, VIC
4-6 and 8 Derby St, Collingwood, VIC, 3066
Development of 22 high-end apartments located in the inner Melbourne suburb of Collingwood.
Key Item
Value
Property Type
Land Size
Residential
603 sqm

In January 2023, Metrics was approached by an experienced private developer to participate in a joint venture to acquire and develop the property. An extended settlement period was negotiated allowing sufficient time to obtain a planning permit, during which time an adjoining heritage property was also acquired to create a larger and more efficient development.

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The site is in a prime location in the trendy inner city suburb of Collingwood, less than 2km from the Melbourne CBD. With significant amenity nearby including dining, retail, entertainment and public open space, projects in the local area attract strong purchaser demand and significant price premiums to projects further from the CBD.

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The development is comprised of owner-occupier focused two and three bedroom apartments across seven levels with retail/commercial space at ground level. The project is positioned as high-end with a strong design focus, targeting second home buyers, downsizers and those who want to live close to the CBD while enjoying the amenity of the local area.

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The heritage building provides a unique opportunity to create a showpiece that helps to differentiate the development from competing projects while also resulting in improved constructability, reduced setbacks and a more regular building envelope for the development.

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A builder has been appointed and the target construction completion date is Q3 2027.

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