Triple-tower development confirmed for Fortitude Valley
Bringing renewal to the quiet southern arrival point of Fortitude Valley, a new triple-tower development is set for 186 Wickham Street. Located near the iconic shopfront of Monty’s Pawnbrokers opposite the lower end of the Chinatown Mall, the lot has sat vacant for the past 20 years.
Perth companies Twin Ocean Group and Sunfire Asset are behind the development, which has been in planning stages for the past 18 months. The developers have engaged Sydney-based architecture firm Nettletontribe to execute the design, which will see two residential towers, a hotel, and restaurant and retail space converge on the site. Stage one will commence with a 30-level residential tower fronting Wickham Street comprising 187 one and two bedroom apartments, a landscaped rooftop terrace, lounge facilities and three podium decks with a pool. On the ground level a landscaped plaza will provide much-needed open-air public space, with the enhanced streetscaping increasing pedestrian movement to this quieter end of the Valley.
The connective plaza will also activate Ranwell and Mead Lanes, tapping into the precinct’s existing laneway culture, while the design will reference the adjoining heritage shopfronts, weaving a strong tapestry of brick, timber and stone from the Wickham Street entrance through to Ranwell Lane. Vertical gardens and climbers will add a burst of greenery to suburb’s concrete terrain, with green walls cascading along the length of the retail arcade. Stage two and three of the development will see a 25-storey hotel with 198 studio rooms and a 23-level residential tower with 137 one and two bedroom apartments facing Ranwell Lane added to the plot, with the end value of the 3000-square metre property expected to be in excess of $250 million. Construction will commence in late 2014, with the three towers expected to be complete in 2016.