Salvo posted on June 26, 2010 00:01
Buyer rush in Victoria St
Kamahl Cogdon
Herald Sun | 26 June 2010 | Page: 14 | Property
A new apartment project in vibrant Victoria St, Abbotsford, could be the property market’s worst-kept secret.
The first stage of the Salvo Property Group’s $250 million Precinct development is 80 per cent sold before it officially hits the market.
Salvo Property Group sales and marketing manager Andrew Salvo says buyers include existing clients and people who have registered their interest online after seeing hoardings around the site.
The first stage will include three apartment buildings around a large communal courtyard.
A 25m swimming pool surrounded by glass doors that can be opened in summer will be built at one end of the courtyard, and a café at the other.
“The idea is to create an activity hub in the middle,” Salvo says.
“We’re not just selling an apartment in a building, we’re selling a whole precinct with landscaped gardens and community amenities.”
Stage one will have 230 one, two and three-bedroom apartments and townhouse-style lofts.
Stage two will have 220 apartments, most with two bedrooms.
In all, five building with 450 apartments are planned for the site at 601 Victoria St.
Construction is due to start in September and finish in late 2012 or early 2013.
A fully equipped gym, spacious entertainment room and communal lounge are also part of the blueprint for Precinct, designed by DKO Architects.
Salvo Property Group executive chairman Mario Salvo says the location in the bustling eat street near Richmond’s Bridge Rd shopping strip is another highlight,
It’s also near the Yarra River and parkland.
“We’ve got the best of all worlds,” Salvo says.
“Precinct offers a cosmopolitan lifestyle not far from river walks and bike paths into the city.”
Price range:
One bedroom from $340,000 to $411,000
One bedroom plus study from $386,000 to $480,000
Two bedrooms from $395,000 to $581,000
Two bedrooms and two bathrooms from $529,000 to $776,000
Two bedrooms plus study from $643,000 to $755,000
Three bedrooms plus study from $895,000 to $921,000