3-5 St Kilda Road
PDA negotiated a joint venture with the land owner to redevelop the site, after failed attempts to sell the property. The site comprised 2 no. 2 level office buildings with substantial frontage to St Kilda Rd and Barkly St.
PDA was a joint venture partner for the development and was also responsible for Development Management of the project. PDA engaged the design team, conceptualized the project and prepared the planning application. The planning application was refused by the City of Port Philip, and PDA subsequently applied to VCAT before the project was ‘called in’ by the Planning Minister. A permit was issued for a 26 story apartment, office and retail project with 272 apartments.
The permit created a substantial uplift in site value and the property was subsequently sold for $20.9M, more then double the property value, before PDA became involved.