Botanic House, an exceptional 1,728 square metre landholding in one of Melbourne’s most prestigious inner-city locations is being offered to the market with permit approval for a $250 million 19-storey mixed-use development.
The sought-after location includes the rare trifecta of sweeping views of the city skyline, Port Phillip Bay and the Royal Botanic Gardens, and is adjacent to some of Melbourne’s most iconic landmarks including Albert Park Lake and the Shrine of Remembrance.
The approved planning permit for Botanic House has been designed by leading architects Fraser & Partners and features 196 luxury apartments, mixed ground level uses and 151 car spaces, significantly derisking the project. A pedestrian walkway through the site has been permit-approved, delivering a direct connection to Albert Road and the new Anzac Station, which is one of five underground stations being delivered as part of the $12 billion Metro Tunnel Project. The new tunnel will provide direct rail access to the CBD and key employment, education and health precincts, and a planned connection to Melbourne Airport in the coming years.
Situated only 1.75km from the CBD, the site, which is expected to sell for circa $30m, is located at 13–21 Palmerston Crescent in the heart of South Melbourne’s Domain Precinct offering brilliant lifestyle amenity with convenient access to the Domain Road retail precinct and cafes, South Melbourne Market and Clarendon Street dining.
With the development site currently operating as a multi‑storey car park, LAWD Director Lukas Byrns said the strategically located land will draw considerable attention from a range of buyers.
“We expect to see interest from both build‑to‑sell and build‑to‑rent groups seeking high‑quality city‑fringe development opportunities,” Mr Byrns said.
“In addition, the property will appeal to retirement living and student accommodation developers due to its exceptional location, excellent transport connectivity, sweeping views, and de‑risked planning approval, offering a rare chance to deliver a landmark project surrounded by some of Melbourne’s most iconic destinations.”
While the site has an approval in place for a residential and commercial tower, Mr Byrns said interested buyers could benefit from a revised scheme prepared by Fraser & Partners, which adds further capacity to the site.
“For buyers seeking to add scale, there is additional development potential with a new proposal, which would increase the number of apartments to 258,” Mr Byrns said.
“This proposal will be made available to prospective buyers as part of the sales process.”
The property sits adjacent to Melbourne’s world-class cultural district, anchored by NGV International, Arts Centre Melbourne, and Hamer Hall. By 2028, the $1.7 billion Melbourne Arts Precinct Transformation will introduce NGV Contemporary, upgrade Arts Centre Melbourne, and create an 18,000sqm urban garden expected to draw around one million visitors each year.
In addition to the unparalleled lifestyle amenity, many of Victoria’s highest ranked schools, universities and research institutions are all located within a tram or train ride of Botanic House.
Botanic House is available For Sale via Expression of Interest closing at 2pm (AEDT) Wednesday, 18 March 2026. For more information, please contact LAWD Directors, Lukas Byrns on +61 42 791 126 or Henry Burbury on +61 407 686 788.
