First published 28 Oct 2026, 12:00pm
Emerald Place at 182–200 Clarendon St, South Melbourne, has replaced a former Centrelink, Bank of Melbourne and tool shop. Picture: Lillie Thompson.
A new $160m South Melbourne luxury residential and retail complex has been developed on the site of a former Centrelink and Bank of Melbourne branch.
Prominent developers Lowe Living and INT.RE Kajima teamed up to complete the Clarendon St hub named Emerald Place, which also features commercial spaces and is next door to the South Melbourne Market.
They’ve welcomed Soak Bathhouse’s second Melbourne venue as a tenant, with the wellness and therapy opening its doors on October 26.
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Lowe Living was co-founded by managing directors Tim and Emma Lowe more than a decade ago.
Nowadays, it has $1bn worth of developments in its portfolio including across locations including Brighton, Armadale, Hampton, Sandringham and Parkdale.
Owned by Japanese giant Kajima Corporation, INT.RE Kajima is a property development and investment-led finance company.
Emerald Place contains 38 luxury residences, two floors of commercial office space and ground-floor retail, with Lowe Living also moved its headquarters to the building.
Lowe Living’s managing directors Tim and Emma Lowe, who are now based at Emerald Place. Picture: Lillie Thompson.
Soak Bathhouse has opened its second Melbourne venue within the South Melbourne complex.
Inside a penthouse at Emerald Place. Picture: Lillie Thompson.
Mr Lowe said he first saw the future development site at 180-200 Clarendon St, on the corner of York St, about five years ago when it was home to a Centrelink, Bank of Melbourne branch and a tool shop.
Excited by its potential, Lowe Living and INT.RE Kajima engaged architecture and interior design studio Woods Bagot and landscape architecture practice Acre to create “a really green building”.
They also drew on South Melbourne’s architectural heritage with its terracotta tones referencing the area’s characteristic brickwork with the addition of paler bricks and metal cladding higher on the structure.
“We focus a lot in terms of making sure the community embraces the building, and we’d love to think that in 30 years time it’s still as present at relevant as it is today,” Mr Lowe said.
Soak Bathhouse was founded by husband-and-wife duo Niki Dean and Alexis Dean on the Gold Coast. Mr Dean is former Goodlife Health Clubs’ former chief executive.
Ms Lowe added she had enjoyed watching people walk through Emerald Place for the first time “and see it come to life exactly as we imagined it”.
A partnership with Melbourne Art Fair has seen paintings, photographs and sculptures with a combined value of more than $430,000 displayed in one of the penthouses that’s for sale, although the art is not part of the listing itself.
Emerald Place’s residences include two- and three-bedroom apartments and three- and four-bedroom sub-penthouses and penthouses, with the largest featuring its own rooftop private pool and kitchenette.
Woods Bagot principal Ana Sá says they wanted Emerald Place to engage with the life of the street, while giving residents a sense of calm when they arrive home. Picture: Lillie Thompson.
Some apartments remain available to buy, priced from $4.395m to $11.5m.
Buyers of Skyhome Collection sub-penthouses and penthouses will receive complimentary memberships to the Soak Bathhouse, while other residents will have discounted access.
Soak has taken out a 10-year lease at Emerald Place, joining the other retail and commercial offerings.
The bathhouse already has a South Yarra venue, and others in NSW and Queensland.
Some commercial office and retail spaces at Emerald Place remain available for lease.
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