Construction Industry in Australia Soars to New Heights with Record Crane Activity
Australia’s construction industry is on an exhilarating journey marked by a remarkable…
16 May 2023
Hong Kong-based developer, Far East Consortium (FEC), has achieved a significant milestone with the completion of its $2 billion West Side Place Stage 2 development. The project, located in Melbourne’s Central Business District (CBD), is the largest mixed-use development in the Victorian capital in over a decade. This achievement comes despite the project facing numerous obstacles, including Covid-19 induced shutdowns and the insolvency of the previous contractor, ProBuild.
Multiplex, took over the project after ProBuild’s collapse, has successfully finished the construction. Multiplex’s Regional Managing Director, Ross Snowball, described the precinct, which occupies an entire city block, as one of the most significant and intricate developments in Melbourne’s CBD in recent years.
Known as West Side Place, the development is a massive urban rejuvenation project that is expecting to breathe new life into the western CBD. Snowball expressed his pride in delivering a project that is poised to be a catalyst for further development in this part of the city.
West Side Place comprises four towers, standing between 64 and 82 storeys tall, housing a total of 2,895 residential apartments. It also includes new luxury hotel accommodations, making it a significant addition to Melbourne’s landscape. The first Ritz-Carlton Hotel in Melbourne CBD will be located within the precinct, providing 257 luxury 5-star rooms, while the 317-key 4-star Dorsett Hotel extends its brand’s Australian presence.
Adding to the precinct’s appeal is a new dining and retail precinct that forms a connection between Lonsdale and Little Lonsdale Streets in the CBD.
The construction of West Side Place spanned over four years, contributing significantly to the local economy by creating 3,847 jobs. The project featured a diversity of designs, with 33 different facade types for the podium facade.
FEC acquired the 250 Spencer Street site from ISPT in 2013 for $75 million and launched the project to the market in 2016. As it celebrates the completion of West Side Place, FEC is also looking forward to the completion of another mega-project, Queen’s Wharf in Queensland.