Green light on North Wharf

Planning Minister Matthew Guy last month approved plans for the $90 million North Wharf redevelopment.

Developer Asset 1 has been granted approval to construct a 13-storey office tower, upgrade part of the wharf and refurbish the existing Seafarers Rest park.

The development also includes plans to partially demolish and redevelop the heritage-listed Goods Shed no. 5, introducing retail, cafes, restaurants and an art gallery.

“This unique area of the city is one of the last Yarra River precincts to be redeveloped and presents a great opportunity to revive Melbourne’s western cornerstone,” Mr Guy said.

Asset 1 Chief Operating Officer Gavin Boyd said the start of construction was dependent on the commercial market.

An anchor tenant of between 10,000 and 12,000 sqm in is required to kick-start the development.

Work on Seafarers Rest Park and the Goods Shed will be concurrent with construction of the office tower.

Mr Boyd said it was expected to be at least a year before construction started.