Sterling Global’s Collins Street tower to appeal to return-to-office ‘boltholers’

Already a subscriber?The developer of a newly approved $520 million residential and hotel tower at the western end of Melbourne’s Collins Street believes the high-end apartments in the development will appeal to regionally based professionals seeking CBD “boltholes”.

“As we work and live in the area ourselves, and have seen other similar developments go up – Collins Arch being a good example – we think our target market will be young professionals, upgraders and secondary dwellers,” Sterling Global development director David Morgan toldBy “secondary dwellers” Mr Morgan said he meant corporate professionals who live regionally, but who with the resurgence in the return-to-the-office now commute more regularly into work.

“We are confident about where the residential market is heading. There is definitely undersupply in the CBD and in Melbourne more generally. There’s been a real shortage of approvals of this nature in the CBD,” he said. The approved project will retain the facade and original banking chamber within the former State Savings Bank building, which operates as the Batman’s Hill on Collins Hotel.

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