Featured Project

The Victoria Albert (VATR), Victoria

A 1.4-hectare redevelopment of the 1882 Victoria Brewery into 144 premium residences – sold out before demolition, and beating feasibility by over $10 million.

Aerial view of the Victoria Albert development highlighting its location near Melbourne's CBD.
Development
144
Premium apatments
Land area
1.4 ha
5,984m² footprint
Heritage
1882
Former Victoria Brewery
Outcome
$10M+
Above Feasibility projections
Project Overview

Compete on quality,
not price.

On a 1.4-hectare site between Victoria Parade and Albert Street in East Melbourne stood the Victoria Brewery – an original structure dating to 1882, and the canvas for one of inner Melbourne’s most significant residential redevelopments.

Rather than competing on price, Phil Mollard chose to compete on quality – 144 premium residences across apartments, townhouses and penthouses, weighted to three- and four-bedroom homes for discerning owner-occupiers, in a Neo-Georgian design that restored heritage elements of the original brewery.

The Challenge

A landmark 1.4-hectare inner Melbourne site carrying the heritage of the 1882 Victoria Brewery – a redevelopment where the easy move was to compete on price, and the better move was harder.

The Approach

Rather than competing on price, Phil Mollard chose to compete on quality. The scheme delivered 144 premium residences – apartments, townhouses and penthouses, weighted to three- and four-bedroom homes for discerning owner-occupiers – in a Neo-Georgian design that restored heritage elements of the original brewery. MPG led the property acquisition, the highest and best use analysis and the development management.

The Outcome

The development sold out prior to demolition, and sales revenue exceeded the feasibility projections by over $10 million – proof that, on the right site, quality outperforms price.

Project Gallery
Landscaped central courtyard with fountain surrounded by apartment buildings and gardens.
Street view of the Victoria Albert apartment building with landscaped frontage.
Historic aerial view of the former Victoria Brewery buildings prior to redevelopment.
Apartment balcony with outdoor seating overlooking the Melbourne city skyline.
Apartment balcony overlooking a landscaped central courtyard with surrounding residences.
Street-facing façade of the Victoria Albert apartment building with entry and balconies.
Historic advertisement for the Victoria Albert apartment redevelopment at the former East Melbourne brewery site.

MPG Services Provided

Highest & Best Use Analysis → Strategic Property Acquisitions & Analytics → Development Management →
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On the right site, quality
beats price.

The Victoria Albert sold out before demolition and beat feasibility by over $10 million – because the highest and best use was quality, not volume. If you are weighing a significant site, we will model its highest and best use before you commit.

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