Southbank apartment tower nearing completion
Construction on FOCUS Apartments is progressing well and approaching completion with residents set to move in later this year.
FOCUS is the latest luxury apartment project by notable Melbourne property developer Central Equity, which is widely regarded as the pioneer of Southbank living and is now celebrating its 35th year in operation. FOCUS will be Central Equity’s 84th completed project.
Located at 75 City Rd – adjacent to the National Gallery of Victoria, Arts Centre, State Theatre, Botanical Gardens and famous Southbank Promenade – FOCUS is strategically positioned to enjoy the absolute best of Melbourne. And the best is set to get even better.
Southbank has long played a leading role in Melbourne’s cosmopolitan lifestyle – as home to its finest arts, entertainment, parks, gardens and cultural institutions. Key upgrades to Southbank’s cultural infrastructure are now gaining further momentum, with plans lodged by Development Victoria for a number of exciting additions including the new NGV Contemporary Art Gallery and 18,000 sqm of public space (featuring gardens, sculptures, food and beverage, and performance spaces). Just a stone’s throw from FOCUS, the $470 million commercial and retail redevelopment of Southgate will further add to the excitement with a vast array of new restaurants, bars, retail spaces and offices.
Other locational benefits at FOCUS include easy access to the CBD via Princes Bridge and close proximity to Flinders Street Station. From there, take the City Loop to anywhere in the CBD or further afield by Melbourne’s vast train and tram network.
As exciting as Southbank can be, sometimes apartment residents want to take it easy. At FOCUS, exclusive resident facilities provide a variety of relaxation, health, fitness and entertainment options, including an indoor heated lap pool, gym with strength and cardio options and sauna. There is also a resident cinema, an expansive and luxurious resident lounge, an outdoor garden terrace with barbecue and seating areas and indoor and outdoor dining areas with kitchen facilities.
Central Equity has made additional efforts at FOCUS to ensure resident comfort and wellness are paramount. Each apartment includes its own dedicated air conditioning system (heating and cooling), with plentiful natural ventilation via openable windows, sliding doors and private balconies and terraces. Ventilation is managed in communal spaces via a combination of filtered ventilation systems, air purifiers, or outside air changeovers.
The projected mid- to late-2022 completion for FOCUS could not come at a better time with the inner-city showing strong signs of a quick return to normal life. Vacancy rates in the Central Equity Group’s management company in the Melbourne CBD and Southbank have tightened as students, retirees and young professionals return to the city. Low vacancy rates like this have not been seen since before 2019, signalling an excellent time for investors to consider purchasing at FOCUS. The combination of increased international migration, the return of city workers and an influx of new city residents looking to enjoy the city life, will likely create strong demand for brand new towers like FOCUS.
Apartments at FOCUS qualify for the huge stamp duty concession that is currently available until June 30, 2022. This is a unique opportunity to save many thousands of dollars in government stamp duty charges.
Central Equity is holding an Open House event from March 10 to 20 at its display at 151 City Rd, Southbank (corner Power St). The event will showcase a new range of Southbank apartments and provide the opportunity to inspect fully furnished display apartments and fabulous resident amenity in a newly completed apartment project. To find out more about the Open House or living at FOCUS – head to focusmelb.com.au or call 03 9278 8888 •