Planning has been approved on Melbourne’s second tallest tower. The Bates Smart-designed building on Melbourne’s Southbank was given the head’s up by Victorian Planning Minister Matthew Guy and will soar to 276m and encompass 71 storeys of prime residential property.

592 apartments and 566 car parking spaces comprise the basis of the facility which will take the form of three platinum and silver glass cylinders. Speaking on the approval of the $275m property, proposed for the site of a former hotel, Matthew Guy was positive about the concept.

He said: “The tower will be a stunning addition to Melbourne’s skyline, with an innovative design to reflect its location at a key gateway linking Southbank and the CBD. Southbank is a natural extension of the Melbourne CBD and is an area that is constantly evolving, with architecturally inspiring development forging ahead.”