Claiming one of the most central locations in Melbourne, 640 Bourke St is set to become a new symbol of stylish inner-city living.
This prestigious architecturally-designed development is quite literally in the heart of the CBD, which has already gained plenty of attention from buyers.
But, coupled with a stunning heritage-inspired design and Victoria’s new off-the-plan stamp duty savings, it’s proving to be an offer that will be hard for buyers to resist when it officially hits the market.
Style and substance
Designed by the renowned architect Rothelowman, 640 Bourke St will be a stunning addition to the cityscape.
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The integration with the historic Eliza Tinsley Building blends classic charm and modern sophistication.
According to project agent Jessica Campbell, the design has been harmoniously integrated with the historic Eliza Tinsley Building, which sits at the base of the 68-storey tower, mixing classic with modern elegance.
“We’ve very much drawn from Melbourne heritage buildings so it’s something that’s very beautiful,” she shares.
“It’s the kind of building that people go see in places like New York and London, and we haven’t seen something with this sort of feel in the Melbourne market in a long time, so it’s very exciting.”
The interiors have been specifically designed for live-in purchasers, meaning the apartments are spacious and planned meticulously with function and luxury in mind.
“We are living in a post-Covid market, which means buyers are looking for lifestyle, wellness and flexibility – so at 640 Bourke St, we’ve reduced the number of apartments and increased the layouts’ size,” Campbell explains.
“It’s very much for the owner-occupier. These are for the buyers who want that elegant city pad, right in the centre of town.”
A quintessential Melbourne address
Bourke St is the epicentre of city life, offering residents access to the iconic Bourke Street Mall, with all the major retailers right on their doorstep.
Bourke St lies at the heart of city living, offering residents an array of major retailers.
Additionally, all of Melbourne’s beautiful theatres are within walking distance, and transport is a breeze with multiple tram lines and train stations nearby.
Access to open space is also easy.
The area is surrounded by some of Melbourne’s best parks and green spaces, such as Flagstaff Gardens.
With art galleries just a short stroll across the Yarra and Melbourne CBD’s iconic foodie scene nearby, residents can stimulate their minds as well as their stomachs. There is a never-ending plethora of cafes and swanky hole-in-the-wall restaurants for a quick bite.
According to recent realestate.com.au data, the median unit price in Melbourne is around $587,000, making 640 Bourke St’s starting price of $640,000 extremely competitive given its prime location and luxury amenities.
Unit prices in Melbourne CBD have seen a 12.1% growth over the past five years, making this development not just a place to live but a solid investment opportunity.
Campbell says a new luxury offering with a Bourke St address is “something very rare” but adds that the one-, two-, and three-bedroom apartments are still very attractively priced.
Buyers will also be able to take advantage of the Victorian Government’s new temporary stamp duty concessions, which mean no land tax on off-the-plan apartment contracts signed before October 2025.
Anticipating strong interest, Campbell says the development will have apartments ready to showcase in the new year, and the residences will likely be snapped up fast.
“We will have three apartments ready for display in late February 2025, which will really showcase the size and the design,” she shares.
“It is going to be exciting.”
Contented living
City buyers already have access to a wealth of amenities on their doorstep, with the city centre brimming with attractions like the Melbourne City Baths, the State Library, and the Queen Victoria Markets.
The design has over 3000sqm of shared amenity space across four levels.
However, 640 Bourke St takes convenience and leisure to the next level. The design has over 3000sqm of shared amenity space spread across four levels, which project agent Jessica Campbell describes as “pretty special.”
“This includes a pool, gym, art therapy room, piano salon and co-working spaces,” she says.
The social floor also features a whisky lounge, conservatory, games room, speakeasy room, library, and movie theatre.
At the ground level, the development incorporates a laneway with a new public plaza, where residents can discover boutique shops and an art gallery, capturing the quintessential Melbourne vibe.
Moreover, 640 Bourke St offers breathtaking views of the city, with higher floors providing unobstructed panoramas of Melbourne’s skyline, Port Phillip Bay, and beyond.
