Buyers are here to stay

Southbank’s premiere development project Melbourne Square is attracting a strong response from owner-occupiers wanting to settle.

Developed by OSK property and designed by Cox Architecture, Melbourne Square’s transformational and community centred offering on a MCG-sized Kavanagh St block continues to generate strong interest from investors.

Since its sales launch just last month, CBRE managing director of residential projects Andrew Leoncelli said the local owner-occupier take up rate had been extremely successful so far due to the project’s incredible amenity offering.

Stage one of the project, which is set to commence construction this year, incorporates two residential towers, as well as a 3700 sqm public park, childcare centre and dining and retail, including a supermarket.

The attraction of owner-occupiers has been further reflected by a number of clients having already purchased multiple apartments and combining. Responsible for the interiors, Carr Design director of architecture Chris McCue said it had been focused on providing an adaptive approach to tailor to all of its clients’ personal needs.

“In the last fortnight really we’ve been doing a number of design auctions for combining apartments at the upper levels where they’ve either bought two or three or in some cases five apartments and combined them, which is really about providing a larger apartment for them as their primary residence,” he said.

“The market is always shifting and evolving you can never entirely predict how it’s going to need to respond so we’ll tend to do a bespoke offering in terms of combining layouts and integrating a penthouse kitchen or bespoke joineries.”

The project is set to transform Kavanagh St into a vibrant community precinct and the early response from owner-occupiers reflects the strong interest in the project’s generous offering of amenities.

melbournesquare.com.au