Return

The Bank Apartments are aiming for the stars.  First Delta Group is pitching the 40-storey Soutbank tower as a building with six star energy efficiency – and its working.

Retail sales are being launched today, but 240 of the 360 apartments have already been reserved.

The project is by the former owner of Europcar Australia, Mario Salvo, and his son Andrew on a site discarded by Crown Casino.

"Obviously we are in a great location, opposite Crown, with an unbelievably attractive building, internally and externally, that is six-star energy rated," Mario says.

Green features include low-energy lighting, heating and cooling, plus rainwater collection for watering of the development's landscaped terrace.

The rainwater will also be used to flush toilets and fill the lap pool.  Solar panels on the roof will heat water and water-saving taps will be fitted throughout the complex.

Named in recognition of the historic Bank of NSW building at the base of the tower, The Bank Apartments were designed by architects Urban Design, which created the Verve apartments on the corner of Franklin and Swanston streets.

The design features a sharp corner on the upper levels, to help stand out from the Southbank apartment crowd.

The tower at 283 City Rd, will have 268 two-bedroom apartments, 11 three-bedroom apartments and 81 studio and one-bedroom apartments.

It also has a 25m pool, spa, sauna, fully equipped gymnasium, communal lounge, undercover car parking, storage areas and two share cars available to residents who need to make quick trips around town.

Studio apartments range from 36 to 52sqm and are selling for $275,000 to $421,000, one-bedroom apartments of 45 to 52 sqm are $330,000 to $421,000, two-bedroom apartments of 62 to 105 sqm $395,000 to $942,000 and three-bedroom apartments of 92 to 115 sqm $802,000 to $966,000.

Salvo says most of the apartments are less than $550,000, with plenty of variety in the 120 still for sale.

Of the 240 reserved, 192 are held by Australians and the rest of the Asian investors.

"In a soft property market, this is a pretty good result," Salvo says.

He says investment companies have rated the project at 4 1/2 stars for its location and amenities.

The project means First Delta Group will have to move from its offices in the old bank building to the Crazy Johns head offices across the road, which it bought in May.

"We'll be moving out in the next month," Salvo says.

"Sadly, the big safe in the back we were hoping to put all the money in will have to go.  There's a big pipe going in there."

Salvo says the restored interior of the banking chamber will not be touched.

Retail sales start noon today.

Return