Multiplex to build $565m twin-tower Shangri-La hotel and apartment development in CBD

MORE than 1000 jobs are set to be created with the $565 million redevelopment of a former Telstra site — which will feature Melbourne’s first Shangri-La hotel — in the CBD.

An artist’s impression of the proposed Shangri-La Hotel and Sapphire By the Gardens development in Exhibition St. Picture: Supplied

MORE than 1000 jobs are set to be created with the $565 million redevelopment of a former Telstra site in the CBD.

A Shangri-La hotel — the first for Melbourne — and a luxury 300-apartment complex feature in the twin-tower project by Malaysian developer SP Setia.

The two towers, at 60 and 62 levels, will be joined by a sky lounge on floor 46.

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An artist’s impression of the proposed Shangri-La Hotel and Sapphire By the Gardens development in Exhibition St. Picture: Supplied

The site, on the corner of Exhibition and La Trobe streets, is opposite the Carlton Gardens.

A sod-turning ceremony was held yesterday, with Multi­plex announced as the builder.

The head of Setia’s Australian operations, Choong Kai Wai, said more than 95 per cent of the apartment tower, called Sapphire By The Gardens, had been sold.

“(There is) substantial demand for premium, highly liveable and world-class residential apartments in Melbourne’s CBD,” he said.

Lord Mayor Sally Capp said it was a significant project.

Lord Mayor Sally Capp.

“We will have our oldest iconic building, the Royal Melbourne Exhibition Building, looking on as our newest iconic building, with its sky bridge, is built,” she said.

“Projects such as this, with its enormous scale, are all-­important in terms of investment and development happening right here in our city.”

Construction will take about three years, with the project expected to provide over 1000 jobs.

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