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Shine on you crazy diamond

Shine on you crazy diamond

Maddocks has helped a Singaporean jewellery firm purchase the soon-to-be tallest building in Melbourne.

Firms: Maddocks (Aspial Corporation); Colman Legal (Vendors)

Deal: Purchase of the Australia 108 Building at the Southbank Boulevard.

Area: Property

Value: $42.3 million

Key Players: Maddocks partner Nick Holuigue (pictured) led his firm’s team, while Adrian Colman from conveyancing specialists Colman Legal acted for the vendors.

Deal Significance: The Australia 108 Building at the Southbank Boulevard is set to be the tallest building in Melbourne, with new owner Aspial looking to construct a 312-metre-tall residential and commercial tower on the site.

Initially it wanted to build a 388-metre-tall building, but that was knocked on the head to avoid the emergency flight path into Essendon Airport.

The Aspial Corporation owns a range of jewellery boutiques in Singapore, and is the only listed jeweller on the Singapore Exchange.

“We're delighted to be working with Aspial on such a signature project. On completion, this development will be a significant asset to the Melbourne skyline,” said Holuigue.

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