New $420m precinct to breathe life back into Collins St in Melbourne CBD

Historic buildings may soon be demolished to make way a 42-level tower amid a $160m plan to breathe new life into Melbourne’s Collins St precinct.

A 24-hour precinct has been billed for a major renaissance of one of Melbourne’s busiest intersections.

A “24-hour precinct” has been billed for a major renaissance of one of Melbourne’s busiest intersections as developers spend big trying to transform the west end of Collins St.

While the “Paris end’’ of Collins St is revered for luxury shops and architecture, investors are sparking a transformation of towers, hotels, shops, offices, apartments, restaurants and new foodie hot spots at the other end.

Central to the plans is a $160m proposal being considered by the state government that would see several historic buildings demolished or partially torn down and a 42 level tower built in their place.

The 152m tall tower with a rooftop pool would be built above the “significant'' Batman’s Hill On Collins Hotel – the former State Savings Bank building built in 1923 – diagonally opposite Southern Cross Station.

Developer Sterling Global wants to open a 229-room hotel, 175 apartments, four levels of offices, a rooftop bar and terrace on the “key site’’, now occupied by three buildings.

An artist’s impression of the mixed use tower to be built at the western end of Collins St, Melbourne.

Sterling Global director Brandon Yeoh told the Herald Sun it was a “forward looking’’ revamp.

“The eastern end of Collins St is active in the day but at night time less so,

whereas with this part of Collins St we’ve got a chance to be a 24 hour precinct,’’ he said.

“And our mixed use tower is reflecting that with residential, commercial and a hotel – so it’s always buzzing.’’

Mr Yeoh said the development on three parcels of land purchased from rich lister Bruce Mathieson and the family of late Grollo Homes founder Luigi Grollo was “the last piece of the puzzle’’ for Collins St.

“We’ve been drawn by the resurgence of this part of town,’’ he said.

“Our vision for the building is for a vibrant architectural beacon that anchors the western entrance to the CBD.’’

The development, with frontages to Collins and Spencer Streets, would have a ground floor lobby, food and drink outlets.

An artist's impression of the tower proposed for 623 Collins Street Melbourne.

The five-storey Batman’s Hill on Collins would undergo internal demolition and refurbishment, with a new restaurant, an outdoor courtyard and the facade preserved.

Two outdoor rooftop terraces facing Collins St would be opened on the seventh floor, along with a bar, function room, gym and 20m lap pool.

Buildings at 607-613 Collins St would be demolished in full, making way for eight penthouses and sub-penthouses, the hotel and hospitality venues.

“Gone are the days when this part of town was just a thoroughfare,’’ he said.

“People used to knock off work and make a beeline to the central and eastern part of the city but we are seeing that people are no longer doing that.

“A lot are hanging around the area after work or before events to explore the options.’’

It comes after up-market hotels The Ritz Carlton and the Dorsett recently opened in the area.

Dorsett sales director Narelle Welsh said “revitalisation’’ of the precinct meant its: “changing shape is going to continually develop as a new part of Melbourne to come down and visit.

“The rejuvenation and gentrification of the area is really creating a buzz.

“There is Little Korea now and it’s almost what the Greek precinct was to Lonsdale St was 10-15 years ago.