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Businesses in Southbank

11 Jul 2019

Businesses in Southbank Image

Family-friendly apartments

By Alex Dalziel

The popularity of “super-apartments” in the Melbourne Square (MSQ) project has increased, with developer OSK Property saying it had seen an influx of families interested in its new development.

More than $32 million worth of apartment combinations have been made at the Kavanagh St development since sales launched in November 2017.

According to OSK Property, 19 apartments at MSQ have been combined into nine, with more than $78 million of the project’s $586 million total sales having been sold to buyers who have bought more than one apartment in the project.

Many have purchased these apartments to combine into “super-apartments” or to co-locate a family in the building.

One buyer bought six apartments on two floors of the development, with an aim to create three large three-bedroom family residences; one for him and his wife, another for his daughter and the third for his son’s family.

CBRE’s managing director of residential projects Victoria, Andrew Leoncelli said that families had opted for combination apartments in order to create a large family home.

“People are applying the hotel concept of adjoining rooms to the residential apartment market and creating semi-detached sky homes that equally provide privacy and connection to the larger family unit,” he said.

“With parents working longer hours and the high cost of living, creating combination apartments for family makes sense as it shares the cost of the purchase and long-term, the cost of childcare is negated.”

Stage one of the MSQ project is currently under construction on the corner of Power St and Kavanagh St. Once completed MSQ will feature six towers – four residential, one commercial and one hotel (managed by Hilton).

The development will also have a furnished $12 million penthouse featuring a personal gallery curated in a collaboration between Carr Design and Hub Furniture.

The “live – in gallery” will feature works from Canadian artist David Umemoto and Britain’s Faye Toogood, as well as a special piece by the late Brazilian Flavio De Carvalho.

The penthouse will be 670 sqm, with a double high ceiling and a statement marble staircase.

Carr Design’s director of architecture Chris McCue said the special collaboration resulted in a beautifully-appointed one-of-a-kind home, nestled amid Melbourne’s Arts Precinct.

“The sense of luxury in the MSQ penthouse is not just special, but also emotional. The gallery concept taps into the excitement of discovering new talent, being ahead of the pack and securing amazing works that will appreciate over time,” he said.

“When we design luxury we think beyond a floor plan or materials palette and use the interiors to create mood and emotion. Hub Furniture has amplified this by sourcing rare and unique items that add to the drama and beauty of the living experience.”

The first stage of the $2.8 billion MSQ development is worth $490 million, which will see the first two residential towers sit above a retail area.

The development also includes 14,700 sqm of public and private residential amenities alongside a 3700 sqm public park that is due to be completed this year. Taylor Cullity Lethlean, who had previously worked on Birrarung Marr, the Natural Arboretum in Canberra and Adelaide Botanic Gardens Wetland, designed the park.

melbournesquare.com.au

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