The State Government of Victoria has selected a developer to regenerate the seafront at St Kilda in Melbourne, Australia.

The AUS$300m (£124m, 183m euro, US$246m) St Kilda Triangle site will comprise 15,000sq m (161,460sq ft) of entertainment, leisure and culture space.

Melbourne architects Ashton Raggatt McDougall, together with financier Babcock & Brown and developer Citta Property Group, will centre the new development on an arts zone featuring a new contemporary art gallery called Linden II, accompanied by a revamped 3,000-seat Palais Theatre, estimated to cost AUS$20m (£12.2m, 8.3m euro, US$16.4m).

The entertainment zone will include six Dendy Cinema screens, a Cultural and Community Palaise Band Room, Ministry of Sound nightclub, Honky Tonks club and Basement jazz and cabaret venue.

A 72-bedroom boutique hotel called Terzini – operated by Maurice Terzini – and numerous mid-priced restaurants will be complemented by a Port Phillip Academy for hospitality training, operated by the William Angliss Institute of TAFE.

The art, entertainment and hospitality zones will be linked by promenades and walkways featuring a Vertical Garden by the Bay, developed by botanist Patrick Blanc, and intermittent open green spaces.

Work on site will start shortly, with a view to completion within three years. Details: www.portphillip.vic.gov.au