Fragrance Australian unit gets permit to develop mixed-used property in Melbourne

FRAGRANCE Collins, an Australian subsidiary of Fragrance Group, has received a permit for the development of its property at 555 Collins Street, Melbourne into a mixed-use multi-storey building for dwellings and retail premises.

The property has a freehold tenure with a total land area of approximately 2,300 sq m, and is located in Capital City Zone 1 in Melbourne's central business district.

The development, which was approved based on a floor area ratio of 1:24, will have retail and restaurant outlets on the ground floor and 625 residential units consisting of one, two and three-bedroom apartments and penthouses with car parks located in four basements.