25/05/2026
has secured planning approval for a $200 million adaptive reuse project at 10 Queens Road, converting a former commercial tower into 169 apartments on one of Melbourne’s most sought-after boulevards overlooking Albert Park Lake.
Designed by the 17-storey project will retain the existing façade, shell and internal structure, with a new Albert Park-facing addition to house premium residences. The mix includes one-, two-, and three-bedroom apartments, plus two large penthouses of more than 320 square metres, each with private rooftop terraces and expected pricing between $9 million and $11 million.
The project includes ground floor amenity such as private dining, lounge bar, gym, wellness spaces, co-working areas, communal gardens and retail. Residents will also have views across Albert Park Lake, Port Phillip Bay and the Melbourne CBD. A key sustainability point is the decision to reuse the existing structure, with analysis by indicating a 62 per cent reduction in carbon emissions compared with demolition and rebuild.
The approval also speaks to a wider shift along Queens Road and the St Kilda Road North precinct, where older commercial assets are being reconsidered for residential use. Nearby, Barings is progressing its 433-apartment project at Queens Lane, designed by Bates Smart and being built by Hickory, showing continued confidence in this part of Melbourne.
With Melbourne apartment demand continuing to strengthen, particularly across well-located middle-ring and inner-city precincts, this project is one to watch as adaptive reuse becomes a more practical option for underused commercial buildings.
More to unpack on this approval and what it may signal for Melbourne’s office to residential pipeline, see the article below.
https://lnkd.in/gkQixcU4
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