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Sterling and Cbus Property team up for $200m luxury apartments

STERLING Global has partnered with Cbus Property on a $200 million residential project in an exclusive Melbourne area overlooking the Yarra River.

Construction on the prime 7,900 sqm site at 139 Alexandria Avenue in South Yarra is set to begin early in 2022, delivering low-rise luxury apartments starting from $2.3 million.

Designed by Carr, 39 residences across eight buildings will form Como Terraces with extensive gardens and city skyline views.

Two and three bedroom homes range from 130 to 323 sqm. External areas include large ground level landscaped garden courtyards for entertaining, of 95 to 220 sqm and balconies or terraces of 12 to 111 sqm.

Formal sales will begin mid-year.

Established in 2012, Sterling Global is a development and investment group with a $1 billion-plus project pipeline, including the under construction Heyington Toorak project nearby, with a delivery date of late 2021, and a project in the south eastern suburb of Oakleigh with an end development value of $600 million.

Its sister company, Sterling Global Capital is a focused manager with a substantial portfolio of high-grade Australian mortgage assets.