Preston Market developer snaps up Cramer St block for $8 million

THE developer behind a plan to build three apartment towers at Preston Market has splashed $8 million on a nearby site, sparking fears that market carpark spaces could be under threat.

An artist’s impression of the proposed apartments at 30 Cramer Street, Preston. Picture: Hayball

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THE developer behind three proposed apartment towers at the Preston Market has paid $8 million to snap up an open-air carpark next door.

The 1761sq m block at 30 Cramer St comes with pre-approved plans for a nine-storey apartment building including 95 units, designed by architecture firm Hayball.

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The Leader understands owner Salta Properties will not develop the site immediately.

The developer, which owns Preston Market, is awaiting a Victorian Civil and Administrative Tribunal decision over its plans to build three separate towers on the northern edge of the market site.

Preston Market Traders advocate Manny Spiteri raised the alarm over the purchase and said traders could not afford to lose access to more parking spaces.

“The traders use (30 Cramer St) as a parking lot all the time, so we have to question what they’re going to do with the site,” he said.

Salta managing director Sam Tarascio said any development of the carpark would “have no direct impact on the operation of Preston Market”.

“(We) purchased 30 Cramer Street as part of (our) commitment to the regeneration of the Preston Market precinct,” he said.

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