Crown Resorts has sold the air rights over a car park next to its Melbourne casino along with two parcels of land nearby, clearing the way for a local developer to pursue a $700 million apartment project at Southbank on the edge of the CBD.

While the deal between Crown and LAS Group – a Melbourne developer led by Les Smith – was struck three years ago, the bulk of it settled only recently and the developer has just won approval for two big apartment towers on the neighbouring sites of 52 and 25 levels.

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