Queen Vic Market high-rise to have dog park and zen garden
A high-rise redevelopment on the landmark Munro site next to Queen Victoria Market is set to become one of Melbourne’s first built-to-rent projects. And with a zen garden and plenty of space to walk dogs, it’s sure to attract plenty of attention.
Victoria
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A space to walk dogs and a zen garden are two unlikely features of the high-rise redevelopment on the landmark Munro site next to Queen Victoria Market.
The $450 million tower will also be Mirvac’s first “build-to-rent” project which gives renters more security and the promise of better service.
The 39-level structure is being built facing Thierry St and is part of the city council’s broader plans to revamp the market precinct.
Work on a 500-bay carpark in the basement for market shoppers has almost finished and Mirvac will take over the site in August.
The 490 apartments that will be built on top of the carpark are scheduled to be built by late 2022.
Mirvac build to rent general manager Adam Hirst said on top of the building’s podium base at the sixth level was a recreational zone and garden.
“That wellness area has a pool, steam room, sauna, full-size professional gym, outdoor gym and don’t walk area around the outside of the podium so you can bring your pet down and get outside,’’ Mr Hirst said.
The upper floors will also have some work-from-home facilities.
The coronavirus pandemic would not slow the project, Mr Hirst said.
“Investing in any form of real estate, you’ve got to take a long-term view.
“It takes it takes upwards of five years from acquisition through planning to construction, and stabilisation of an asset before it’s actually occupied.
“The impacts of COVID, particularly around migration for students and international travel will be cyclical in nature.
“In time, Melbourne will continue to be one of the most liveable cities in the world, and locations of projects like QVM will be extremely attractive because of that.’’
Mirvac has set up its own build-to-rent management arm called LIV Mirvac to run the property. It’s already preparing its first project at Sydney’s Olympic Park.
The build-to-rent system aims to give tenants flexibility and security with leases, capped rental increases as well as technology such as a resident smartphone app to manage maintenance requests, book meeting rooms, organise cleaning, dogwashing, keyless entry and communicate with the LIV managers.
Personalisation of apartments such as painting walls or hanging pictures is not frowned upon by the building managers
The Munro site will also have a 120-place childcare centre and a maternal child health and family
services unit.