Widely regarded as somewhat of a quieter period in terms of market activity, at least in Melbourne, Winter 2016 has continued with the earlier seasons’ momentum with a magnificent development approved opportunity in Toorak generating a buzz among low density, premium developers across the City.
Positioned on one of Melbourne’s most revered thoroughfares in Malvern Road, approval has been granted for a three level residential complex consisting of fifteen residences with outdoor living areas, natural light and basement car parking adding to a stunning architectural design both inside and out.
Award winning interior architects, Carr Design Group, have lent their expertise to deliver perfectly curated spaces that maximise liveability, state of the art furnishings and a warm, contemporary aesthetic.
The land parcel itself, 860sqm, provides for options to capitalise on an additional fourth level penthouse subject to Council approval.
A quick snapshot of the surrounding market shows Toorak remains one of the most popular and acclaimed precincts in Victoria, with average apartment prices sitting at over $815,000, reflecting both the level of demand from owner occupiers and the lack in supply of suitable offerings.
The discrepancy between the average visits per property (V.P.P) in Victoria to that of the average visits per property in Toorak again reinforces this notion, with Toorak generating some 1260 visits verse 500 visits for broader Melbourne.
Presented by CBRE, the site is scheduled for an on-site auction on the 14th of July.
For further information, and to speak with the listing agents please click here.