Footscray of­fers top value

Herald Sun - Property - - DEVELOPMENT - KAMAHL COGDON

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 quaya­part­

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