Watpac Property releases prime Chapel Street retail space

Construction has commenced on Watpac Property’s premier Rue de Chapel development in Melbourne’s inner-urban suburb of Prahran.

This high-calibre mixed-use development embodies Melbourne’s cosmopolitan lifestyle, and with all 84 apartments pre-sold the new building is now under construction.

Rue de Chapel is located at 256-260 Chapel St opposite the City of Stonnington Town Hall, and only 5km from the CBD. The building’s retailers and residents will be at the centre of Melbourne’s trendiest fashion and lifestyle precinct. Cafes, restaurants, supermarkets, Prahran Station and Prahran Markets are all within a short walk of this soon-to-be iconic building.

Watpac Property collaborated closely with cutting-edge architects SJB to develop the concept for this prominent corner site. A section of the existing heritage faade is being retained above the ground floor retail tenancies, while a new eight-level building will be set back from Chapel Street. The faade of the new section features a distinctive laser-cut screen, while a Jack Merlo-designed rooftop garden will complete the boutique development.

Greg Kempton, Watpac Managing Director, said commencing construction of Rue de Chapel was a major milestone for the Company.

“Rue de Chapel will set a high benchmark for future Watpac developments both in Victoria and nationally,” Mr Kempton said.

“After a challenging town planning process and a successful residential sales and marketing campaign, it is very pleasing to begin construction work on the site and set about delivering a development that will prove to be a quality investment for owner occupiers, investors and retailers.

“Our retail marketing campaign has started well with significant tenant interest from major local and international retailers looking to establish flagship stores in Australia.”

Watpac Property has launched prime ground floor retail space for lease, with eight shops that activate both Chapel Street and King Street. A total of 750 square meters of space is available.

The retail component is being released through leading Melbourne commercial agent Gross Waddell. Prospective tenants should contact Jonathon McCormack on 0418 835 885 or Michael Gross on 0419 335 561 for further details.

Rue de Chapel is being built by Watpac’s Construction division, and is expected to be completed mid-2012 with Watpac intending to work closely with retail tenants to activate the ground level earlier.

Note to editors:
Watpac is an ASX-listed company specialising in construction, civil engineering and mining, specialty services (including refurbishments), and property development. We have offices in Brisbane, Townsville, Sydney, Melbourne, Adelaide, and Perth. More information can be found at www.watpac.com.au.


Note: You can now follow us on Twitter! @watpaclimited