Sterling Group Taps Hacer for Melbourne’s 623 Collins Build

Sterling Global has tapped Hacer Group as builder for its $610-million redevelopment of 623 Collins Street, a prominent heritage site in central Melbourne.

A 42-storey tower has been approved to rise from the former State Savings Bank of Victoria site, incorporating and restoring two heritage-listed buildings—the 1924 banking chamber and the former Batman’s Hill Hotel—into a new residential, commercial and retail precinct at the western end of the CBD.

The project has been designed by Plus Studio with interiors by Fiona Lynch.

Plans include 320 homes as well as more than 2700sq m of office space and 900sq m of retail and hospitality frontages to Collins and Spencer streets.

The development will also deliver more than 800sq m of wellness-focused amenities on level six, including a gym, yoga studio, private dining rooms, library, games room and a bathhouse with pool, sauna, spa, steam room and cold plunge.

Yeoh told The Urban Developer when the project was approved in September of last year that level six amenities had been dubbed the Riley Club after Ada Alberta Riley, the original Batman’s Hill Hotel proprietress.

Level 38 will house the Sterling Club, offering exclusive amenities for Reserve and Penthouse residents, including a whisky bar, private dining areas and an outdoor terrace with city views.

The heritage banking chamber is slated for adaptive reuse as a future hospitality venue.

▲ Hacer has been appointed as builder for the project at 623 Collins Street.

The project is the third collaboration between Sterling Global and Hacer Group.

Sterling Global purchased the 2000sq m amalgamated site in 2023 and secured an amended planning permit in August 2025 following the May 2024 approval for an original mixed-use proposal.

Sterling Global director Brandon Yeoh said the appointment underscored the importance of aligning with a builder capable of handling the site’s complexity.

“[The project at] 623 Collins Street is about stewardship as much as it is development,” he said.

“This is a complex heritage site at the heart of the city, and it demands a delivery partner with the experience, discipline and respect required to do it justice.”

Hacer Group director Vin Sammartino said the “integration of heritage fabric with a contemporary tower requires careful planning, collaboration and craftsmanship”.

The project is expected to support about 2000 jobs during construction and generate $800 million in economic activity for Victoria.

Completion is targeted for the fourth quarter of 2029.