MAB Corp signs office-apartment exchange at Docklands

Michael and Andrew Buxton’s MAB Corp wants to swap office space for housing in one of the towers at the NewQuay precinct in Melbourne’s Docklands.

The developer is one of two partnerships with Development Victoria to build residential towers and other buildings in the precinct.

An application has now been lodged with Melbourne City Council to vary plans for a 24-storey tower on a substantial site at 473-505 Docklands Drive, which has been split into several lots.

The submitted application seeks to modify the planning permission for the tower on lot H of 2270 sq m.

A spokesman for MAB Corp said the changes were driven by changing market conditions, including increased demand for housing in Docklands.

“We have submitted a variation to planning permission … including converting the retail space into additional residential flats and upgrading the podium frontage,” the spokesman said.

The conversion of the office space would create eight additional apartments and five more one-bedroom apartments on floors 11-15.

This change would bring the total number of apartments from 196 to 209.

It is also proposed to replace a glass block facade on the northeast corner on floors I, II, III and IV with a prefabricated podium facade.

▲ MAB Corp said the proposed changes were a response to increased demand for housing in Docklands.

Other notable projects of MAB Corp include a mixed-use project with five towers also on Docklands Drive and the Escala project on the same site.

“MAB is currently preparing for the launch of its first new residential development in seven years at NewQuay Docklands in 2025,” the spokesperson said.

MAB Corporation was founded in 1995. The Buxton brothers are fifth-generation real estate developers — JR Buxton founded a real estate agency in 1861.

Development Victoria was established in the 1990s to oversee development in Melbourne’s Docklands.

This resulted in the suburb being split into several precincts and Development Victoria partnered with several developers to create housing, office and commercial buildings.

Development Victoria owns the site.