James Packer-backed casino giant Crown Resorts has been forced to rethink plans for a site in Melbourne’s Southbank where it hoped to build Australia’s tallest skyscraper, after the Andrews government knocked back its bid for more time.
In a blow to its long-held ambitions, Crown told investors on Monday the Victorian Planning Minister informally rejected the request to alter approvals given two years ago to Crown and its joint-venture partner, Schiavello Group, for the $1.75 billion, 90-storey project One Queensbridge Tower.
Located opposite from the casino, One Queensbridge was to be 323 metres high – 26 metres taller than Eureka Tower, and would top Q1 in Surfers Paradise as Australia’s tallest building. Crown recently submitted a bid to extend the construction start date from March 2.
Crown has consistently said the project was subject to obtaining financial arrangements that were “satisfactory to Crown and Schiavello”.