ApartmentsHudson FarrFri 31 Jul 26
St Kilda Gateway Site Approved for 90 Homes Comes to Market
A permit-approved development site capable of delivering 94 apartments has been listed for sale at the gateway to Melbourne’s St Kilda Road precinct.
The 1051sq m corner site at 14 Alma Road, St Kilda, is being marketed through an expressions-of-interest campaign by Colliers on behalf of Melbourne developer Auyin Property Development.
The property, about 5km south of the city centre, is expected to attract offers above $12 million.
The approved plans allow for a 17-level mixed-use development comprising 94 apartments and 274sq m of ground-floor retail, with a total net saleable area of about 7356sq m.
The site occupies a prominent corner position at what Colliers describes as St Kilda’s highest point, offering views towards Melbourne’s CBD and Port Phillip Bay while being close to public transport and the St Kilda Road corridor.
On the site is a 21-apartment block that generate about $180,000 a year in holding income and can be sold with vacant possession.
Colliers national director of residential Jozef Dickinson said the combination of planning approval and location made the site stand out in the current market.
He said the permit-ready scheme would appeal to developers targeting traditional apartments as well as emerging residential sectors such as build-to-rent and co-living.
The listing comes as Melbourne’s St Kilda Road corridor continues to attract apartment development, with projects by developers including Mirvac, Fortis, Gurner, Gamuda Land and Kokoda Property Group reshaping the precinct.
Colliers associate director Philip Heberling said permit-approved projects of this scale in established inner-city locations remained difficult to secure, giving developers the opportunity to move more quickly towards construction.
