Melbourne’s landmark Nylex clock development given go-ahead

A massive $1 billion redevelopment of Melbourne’s landmark Nylex clock site is a step closer after the developer was given the green light.

The Victorian Civil and Administrative Tribunal approved a revised plan for a 15-storey apartment building to be erected at the Gough St Cremorne site that is highly visible from the Yarra River and Punt Rd.

The development has been described as a mini-suburb, with research by the site’s developer showing it could draw from the up to seven million visitors a year at nearby sports and entertainment precincts.

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An additional 14-storey building will also be built, with the total redevelopment to consist of three significant buildings on the site.

About 1000 units were part of the original plans for the site.

The revised plans would bring the number of apartments in Stage Two down from 399 to 258, while the number of hotel rooms will be reduced from 78 to 43.

Nine of the site’s original 16 silos will be retained as part of the redevelopment.

The construction will retain part of the silos as a historic and heritage link that will include adaptation for use as a hotel, art gallery, wellness centre and a visitor centre.

The determination ensures the iconic Nylex clock will tell time once again after it is restored and reinstated over the new development

The plans are the second stage of developer Caydon’s development of the site titled the Malt District.

Caydon Principal Joe Russo yesterday welcomed the decision.

“We are pleased that we can start to fully realise our vision for The Malt District precinct with VCAT’s welcome determination that a permit be granted for Stage Two of the development proposal,” Russo says.

“The determination ensures the iconic Nylex clock will tell time once again after it is restored and reinstated over the new development.”

The City of Yarra had raised concerns over parts of the revised plans and mayor Daniel Nguyen says the council will review the decision.

“We are currently reviewing the decision,” Nguyen says.

The VCAT decision referred to the planned development as a “seductive, sophisticated and subtle design”, and also took in concerns that emerged after a significant fire at the site in November last year.