LOCAL AREA COMMERCIAL & RESIDENTIAL DEVELOPMENTS

• Status: New development plans announced September 2021
• Expected completed by 2025
• Cost Of Development: $1.4B
• Usage: Public Civic Space ( two-level plaza and amphitheatre), 4 luxury residential towers totalling over 400 ultra-luxury residences, 5-star hotel with 180 rooms, 3 levels of retail and entertainment including Cinemas. Retail, Cinemas, Office Space totaling 22,500m2 of NLA. 
• A series of integrated laneways, based on the area’s original 1864 master plans 
• Distance From Pran Central: Approx. 0.5km
• Developer: Newmark Capital & GURNER™ and Qualitas

Status: Plans approved September 2021

Commencement Date: to be confirmed

Expected To Be Completed By: to be confirmed

Usage: 2 residential towers over a combined basement. Ground-level retail with 2,000 square metres of commercial office space with pedestrian through-link. Pedestrian laneway leading to South Yarra train station connecting residents to Melbourne's CBD. 

Residential details: Tower 1 is a 30 storey tower on Yarra Street, including 382 apartments. Tower 2 is a 21 storey tower on Claremont Street, housing 243 fully furnished flexible living apartments.

This development will create approximately 970 jobs during the construction phase and around 150 additional jobs through the office, retail and on-site management components post-completion.

Distance From Pran Central: Approx. 1.9km

Cost: $500 million

Developer: Greystar Real Estate Partners, LLC (“Greystar”) &  Fender Katsalidis (“FK”)

• Status: Planning
• Usage: A mixed-use project with high end apartments Currently zoned as an activity centre - 1,087sqm building, ground floor retail comprising of 6 stores and upstairs offices.
• Distance From Pran Central: Approx. 0.1kms
• Developer: Beulah

• Status: Demolition
• Usage: 22-level tower, with a mix of apartments (160 apartments featuring 30 one-bedroom, 91 two-bedroom, 37 three-bedroom and two penthouses).  A 3 level podium featuring 1,364sqm of office space, 272 sqm retail and 352 sqm reserved for education or community space. 
• Land Size: 2,069 sqm site
• Distance From Pran Central: Approx. 0.5kms
• Developer: GFM Investment Group  (Daniel Grollo)

• Status: planning underway
• Proposed usage: 45 luxury apartments above a heritage building (bluestone church/Sunday school hall), a mix of guest suites and own your own. A level of club commercial space & ground floor restaurant and bar.
• Distance From Pran Central: 700m
• Developer: GURNER

• Status: Planning and assessment
• Cost: $55M
• Usage: 7 Level Mixed Use On A 800m2 Site, 550m2 Of Retail And Office Space Over First Two Levels And 22 Apartments Above
• Distance From Pran Central: Approx. 450m
• Developer: The Simonds Group

• Status: Completed
• Usage: 24 Storey office tower with 24,000m2 of space. Ground floor retailing including restaurants and Cafes
• NEW DEVELOPMENT: 200-person restaurant and rooftop bar
• Distance From Pran Central: Approx. 450m
• Cost: $300 million
• Developer: Goldfields

Prahran Square is the $60+ million transformation of the old Cato Street car park in Prahran, located directly opposite Pran Central, into almost 10,000m² of multifunctional urban parkland with underground car parking. 

Prahran Square features a 500+ car park which conveniently provides shoppers and retailers in the surrounding Chapel Street precinct with 24 hours of underground parking. 

The major residential and commercial projects within a 1km radius to Pran Central attracted an estimated 370 new residents to the Chapel Street precinct during FY21 and an addtional estimated 867 new residents to the precinct by 2023.