Footscray offers top value
BUYERS are splashing more than $1 million on apartments in a Footscray development.
Stage two of the Riverina project, known as Quay at Riverina, officially hit the market last week but CBRE director of residential projects Nic Cuni said a couple of early bird buyers had already combined apartments into larger floorplans with sevenfigure price tags.
“A couple of combined apartments are selling in excess of $1 million which in Footscray is pretty remarkable,” he said.
Mr Cuni said “the three Ps” of potential, proximity and price made the development by AZX Group a winner.
He said buyers could not find better value within 5km of the city, with the project, at 18-24 Hopkins St, also about 200m from Footscray train station and close to Highpoint shopping centre, Yarraville village and the Tullamarine Freeway.
Spectacular views, including across the Maribyrnong River, Docklands and CBD, were another bonus, he said.
“And from a potential point of view it’s a no brainer, there is so much capital growth to be taken up in Footscray, being that close to the city and the Docklands pushing out to the west is bringing it even closer,” he said.
Mr Cuni said he was such a “believer” he had bought two one-bedroom apartments which he planned to hold as investments for his young children.
Stage two’s release of 350 one, two and three-bedroom apartments in a 32-level tower followed the sellout success of stage one, which saw about 365 apartments across three towers snapped up in just five weeks.
A third and final stage will take the total to 986 apartments over five towers.
The Peddle Thorp-designed project will be set around a piazza and gardens, with about 25 shops at ground level.
All apartments will have a balcony of between 10-70sq m, and all but the one-bedroom designs will have a car space.
Bosch kitchen appliances and mosaic marble tiles in the bathrooms will be among interior features of the apartments.
Mr Cuni said residents would also have access to a rooftop pool, spa, gym, sauna and barbecue area in one of the stage one towers.
Prices for stage two apartments range from $280,000 to $360,000 for onebedroom designs; $440,000 to $550,000 for two-bedroom designs; and $520,000 to $875,000 for three-bedroom floorplans.
For more information, call Nic Cuni at CBRE on 0424 523 532, visit the display suite at 20 Moreland St, Footscray, open noon-4pm daily, or see quayapartments.com.au