Salvo, a prominent property developer, has commenced demolition activities to pave the way for a new 56-storey residential tower in Southbank labelled Moray House.

Developer Salvo has commenced demolition to make way for a 56-storey residential tower in Southbank, one of the few high density projects in Melbourne to get off the ground this year due to a challenging market.

Australia’s property landscape is poised for a significant shift as industry leaders forecast a series of interest rate cuts will unlock pent-up market potential and spark renewed growth this year, as outlined in this 2025 market outlook story in The Urban Developer.

Salvo Property Group has begun demolishing the site of its former headquarters at Southbank ahead of construction starting on the company’s $220 million Moray House mixed-use development early next year.

This Art Deco-inspired luxury penthouse sits 50 storeys high in Palladium Tower, developer Salvo’s 51-storey central Melbourne residential development, with its distinct bronze façade and slimline form.

Salvo Managing Partner James Maitland pressed the case for high density development done well at the recent Urban Developer’s Future2034 Melbourne event.

Developments with wellbeing amenity are proving to have sell-out success, as an accelerating ‘wellness lifestyle’ trend in off-the-plan apartments ushers in a new era of city living.

Salvo has progressed plans for the southern portion of the historic Pentridge Village precinct in Coburg after awarding a project to architects DKO to develop a masterplan and design strategy in a design competition.