Melbourne’s prestige property market has taken another step forward, with design-led developer Orchard Piper appointing Cobild as construction partner for its $400 million One Toorak Place development in the heart of Toorak.
The appointment signals the transition of the project from strong sales momentum into full construction phase, reinforcing confidence in the upper-tier residential market despite broader economic headwinds affecting parts of the property sector.
A Landmark Project for Toorak Village
Located on Carters Avenue, One Toorak Place is an eight-storey mixed-use development comprising 44 luxury residences, boutique commercial suites, curated retail offerings and a hospitality precinct led by restaurateur Chris Lucas.
The development has been designed by internationally recognised Kerry Hill Architects through its KHA Studio, with a brief to create a refined architectural addition to Toorak Village while respecting the established character of one of Melbourne’s most exclusive suburbs.
Rather than pursuing scale for its own sake, the project has been positioned as a highly considered, design-driven offering targeting owner-occupiers seeking long-term residency within the blue-chip suburb.
Strong Sales Drive Construction Timeline
Orchard Piper confirmed that the project has secured $150 million in sales, a result that enabled the developer to fast-track site preparation works, which commenced in December 2025.
Rick Gronow, Director at Orchard Piper, said the sales response provided the confidence to formally move into construction.
“The sustained demand for One Toorak Place enabled us to fast-track site preparation works on the project,” Gronow said.
“We’re pleased to now be moving into construction with Cobild, who successfully delivered our $125 million Toorak Village project on Mathoura Road.
“Cobild’s understanding of our commitment to design excellence, as well as our expectations around quality and execution, gives us confidence in the delivery of this project.”
The prior collaboration between Orchard Piper and Cobild on the Toorak Village development appears to have been a key factor in securing the latest construction partnership, highlighting the importance of continuity and trusted relationships in high-value residential projects.
Cobild’s Ongoing Luxury Market Role
Cobild has built a reputation within Victoria’s premium residential and mixed-use market, delivering architecturally complex projects that require close coordination between developer, design team and specialist subcontractors.
Rotem Rotenberg, CEO at Cobild, said the partnership is underpinned by aligned values and shared expectations.
“Our ongoing work with Orchard Piper is built on shared values and a mutual commitment to deliver projects of outstanding quality,” Rotenberg said.
“We’re looking forward to working with the team to realise this exceptional project to the highest standard.”
For Cobild, the appointment reinforces its presence in Melbourne’s top-tier apartment sector, a segment that continues to attract demand from downsizers and affluent owner-occupiers seeking amenity-rich living environments.
Hotel-Style Living in a Residential Setting
One Toorak Place is being positioned as Toorak’s first hotel-style residential building, incorporating integrated lifestyle services typically associated with luxury hospitality.
Planned services include:
- Concierge
- Private car transfers
- On-site security
- Catering and cellar services
- Events hosted through the Lucas hospitality precinct
Residents will also have access to an extensive wellness centre, featuring a 25-metre pool, gymnasium, sauna, steam room, cold plunge, spa and treatment room.
Additional amenities include:
- Dedicated resident lounge
- Business centre
- Golf simulator
- Dog-wash facility
- Car-wash bays
This model reflects a broader trend within premium residential markets, where lifestyle integration and service offerings are increasingly viewed as key differentiators rather than optional extras.
Design-Led Approach Anchors the Vision
Kerry Hill Architects, internationally known for refined, site-responsive architecture, has shaped the project to integrate into the evolving character of Toorak Village.
The architectural approach aims to balance contemporary design language with contextual sensitivity, reinforcing Orchard Piper’s positioning as a developer focused on design integrity rather than purely commercial outcomes.
While luxury apartment supply in Melbourne has fluctuated over recent years, demand within tightly held blue-chip suburbs such as Toorak has remained comparatively resilient, particularly for boutique-scale projects with strong architectural credentials.
Premium Pricing Reflects Market Positioning
The collection of three- and four-bedroom apartments is priced from $3,850,000, positioning the development firmly within Melbourne’s prestige residential category.
Unlike high-density investor-driven apartment projects, One Toorak Place appears targeted at a narrower demographic of established local residents, downsizers and high-net-worth buyers seeking long-term occupancy in a low-turnover suburb.
The emphasis on larger apartment configurations also aligns with changing buyer expectations in the luxury segment, where space, privacy and lifestyle amenities are key decision drivers.
Construction Timeline and Market Context
Construction is now underway, with project completion anticipated in 2028.
The three-year delivery window reflects both the scale of the development and the complexity associated with premium finishes, integrated services and mixed-use components.
The commencement of construction comes at a time when parts of Australia’s broader residential market continue to face pressure from cost escalation, labour shortages and financing constraints. However, the premium segment has shown relative resilience, particularly in established suburbs with limited new supply opportunities.
The successful pre-sales campaign suggests ongoing appetite for well-located, design-led residential offerings in Melbourne’s inner south-east.
Confidence in Established Suburbs
Toorak remains one of Melbourne’s most tightly held residential precincts, with limited opportunities for new development due to planning constraints and community expectations around built form.
Developments such as One Toorak Place represent infill evolution rather than large-scale transformation, contributing to the suburb’s amenity base while preserving its character.
The inclusion of boutique commercial and hospitality elements is also designed to support the vitality of Toorak Village, aligning with broader mixed-use planning principles that prioritise walkability and local activation.
A Signal for the Upper-End Market
The Orchard Piper and Cobild partnership provides another data point indicating that high-quality, well-positioned projects continue to secure buyer confidence despite broader housing market uncertainty.
While much of the national conversation centres on affordability pressures and supply shortages in entry-level housing, the premium market operates under different dynamics, driven more by wealth preservation, lifestyle considerations and long-term residency choices.
The progression of One Toorak Place into full construction suggests that demand for boutique, architect-designed residential offerings in established suburbs remains present when supported by strong design, brand reputation and delivery capability.
With completion targeted for 2028, the development is set to become a new architectural landmark within Toorak Village, adding a further chapter to the suburb’s ongoing evolution.
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