WATPAC SCORES $47M MELBOURNE TOWER

WATPAC SCORES $47M MELBOURNE TOWER

WATPAC (ASX:WTP) has finalised a $47 million contract to deliver a residential tower in Melbourne.

Developed by JSK Properties, Union Tower will comprise 165 one and two-bedroom apartments across 35 storeys.

The project also includes a six-storey podium featuring shared and private work spaces, gymnasium, bike storeroom, common workshop facilities and retail precinct.

Watpac managing director Martin Monro says the contract was a coup for the company.

"We are extremely pleased to be building this high quality residential tower for JSK Properties in a prominent part of Melbourne and look forward to a strong working relationship with our newest client," Monro says.

"Union Tower is a wonderful addition to the group's diverse national contracting portfolio and we believe the project will benefit from our solid experience in delivering prestigious residential and commercial tower projects throughout Australia."

Union Tower is the first Australian development for Malaysian-based JSK Properties.

Watpac Construction Victoria state manager Nick Pavlovic says site constraints will demonstrate the team's delivery expertise.

Located on Little Lonsdale Street in the CBD, the project has a confined development site of 400sqm.

"Our teams are known for meeting complex challenges head-on and doing so in a manner that delivers innovative outcomes for clients," Pavlovic says.

"Delivering a project within a confined, busy inner-city location will demonstrate our team's ability to deliver high level projects to an exceptional standard while managing the challenges of a constrained site."

Construction will commence this month, with 98 per cent of Union Tower units sold. The project is expected to be completed in 2018.

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

From pandemic side hustle to multi-million dollar business: Meet Ling Fung
Partner Content
Ask any parent, and they’ll tell you: preparing for a new baby is no easy task.&n...
Metro Baby
Advertisement

Related Stories

QLD government seals $280m partnership to establish mRNA vaccine research hub

QLD government seals $280m partnership to establish mRNA vaccine research hub

The Queensland Government, one of the world's largest vaccine i...

ACCC gives Compare the Market operator green light for iSelect takeover

ACCC gives Compare the Market operator green light for iSelect takeover

The Australian Competition & Consumer Commission (ACCC) has ann...

How Sourci made it: Meet the founders behind Australia’s new e-commerce wave

How Sourci made it: Meet the founders behind Australia’s new e-commerce wave

In just four short years the co-founders of product development con...

Competition watchdog sniffs at Cochlear-Oticon acquisition

Competition watchdog sniffs at Cochlear-Oticon acquisition

The management at Cochlear (ASX: COH) are hoping to add an extra 75...