Apartment brand Nesuto has confirmed its maiden foray into Victoria, signing a branding and management agreement for a new mixed-use complex to be built in Melbourne’s Docklands precinct.
The 211-key District Docklands building comes following the signing of a partnership with real estate investment firm, AsheMorgan, which is developing the $100 million site.
Designed by Fender Katsalidas Architects, the building will be made up of 133 studio apartments, 58 one-bedroom units and 20 two-bedroom residences. Each suite will be equipped with a full kitchen and internal laundry, open-plan living and dining and separated bedrooms.
Daiwa Living Nesuto CEO, Mark Ronfeldt, labelled the new partnership as an exciting milestone considering the existing market conditions, under which it was maintaining a nimble and agile business mindset.
“Nesuto Docklands, located at 80 Waterfront Way, is testament to that approach. Our unique hotel and apartment hotel model allowed us to completely tailor our approach to the development and deliver a property which will service the variety of needs of the mixed-use precinct.”
AsheMorgan Development Director, Andrew Whiteside, said the company was pleased to partner with the highly regarded and agile hospitality business.
“The continued investment in infrastructure and regeneration of The District Docklands is purpose built for the future,” he said.
“The precinct will continue to evolve into a seamless extension of Melbourne’s CBD, a complete offering that attracts both leisure and corporate visitors.”
The signing takes Nesuto’s burgeoning network to 11 operating properties and two in its pipeline. Construction at Nesuto Docklands is scheduled to begin in 2021 and due for completion by January 2023.