Wattletree has joined forces with Dorman Capital to launch a $190 million project in Melbourne’s South Yarra, known as South Yarra House.

The project is being developed by Wattletree, a development company founded by Rob Pitts and Nick Moylan in 2021. While South Yarra House will be Wattletree’s fifth project, it signifies the first Joint venture between Wattletree and Dorman Capital.

The site at 55 Claremont Street is one of the last remaining riverside holdings in South Yarra and will become home to approximately 60 apartments across 20 storeys.

Dorman Capital acquired one of the sites in 2018, with the two adjoining lots acquired by Wattletree in May 2021, allowing for a 1,000sqm amalgamated site offering uninterrupted views of central Melbourne, the Yarra River and the Royal Botanical Gardens.

Dorman Capital Managing Director Nick Dorman said the site was quickly identified as one of Melbourne’s most premium mid-rise locations due to its uninterrupted views, with the opportunity to create a landmark project, despite the design challenges associated with the land holding.

“We were initially pursuing a commercial office project which had challenges due to the site’s land proportions, prior to Wattletree acquiring the adjoining sites and approaching us with a Joint Venture proposal which alleviated those concerns.

“We quickly built a strong relationship with Rob and Nick and were impressed with their partnership focused style and collaborative, no fuss approach to decision making,” said Mr Dorman.

Wattletree and Dorman Capital have collaborated with design partners, SJB Architecture and interior designers Hecker Guthrie to develop what promises to be a timeless South Yarra landmark inspired by simple, brutalist, art-deco New York architecture.

South Yarra House achieved planning approval in July 2022.