Prin­ci­pal does home work

Herald Sun - Property - - DEVELOPMENT - BENN DOR­RING­TON

A NORTH Mel­bourne devel­op­ment is tap­ping into the pres­tige of the area’s no­table schools and uni­ver­si­ties, at­tract­ing buy­ers from Syd­ney and abroad.

The Prin­ci­pal apart­ments is an Oliver Hume devel­op­ment po­si­tioned along a grand tree­lined boule­vard at 69 Flem­ing­ton Rd.

De­signed by lead­ing ar­chi­tect David Wat­son, the 15-level project is of­fer­ing 164 apart­ments in­clud­ing two glam­orous pen­t­houses.

The Flem­ing­ton Rd po­si­tion is tried and tested for the de­vel­oper thanks to its pre­vi­ous sell­out suc­cess in their Nord project just a few doors up.

Oliver Hume Apart­ments di­rec­tor Jamie Kay said the prox­im­ity to Mel­bourne Univer­sity, RMIT and Mel­bourne High were strong sell­ing fea­tures, as well as the area’s city life­style.

Mr Kay said about 60 per cent of the project had al­ready sold, with lo­cal owne­roc­cu­piers and in­vestors, and in­ter­state and overseas buy­ers, snap­ping them up.

“We’ve had a re­ally strong take up from Syd­ney buy­ers,” he said.

“They are look­ing to Mel­bourne for its rel­a­tive af­ford­abil­ity be­tween the two mar­kets and its cap­i­tal growth.”

Each apart­ment has its own bal­cony with cityviews and shares the fully-equipped gym, two rooftop ter­races and a “life­style man­ager” of­fer­ing a range of concierge and life­style ser­vices.

The build­ing of­fers spec­tac­u­lar views over Port Phillip Bay, Vic­to­ria Har­bour and the sur­round­ing streetscapes.

There are a range of flex­i­ble floor­plans among the one, two and three-bed­room con­fig­u­ra­tions, with the pos­si­ble in­clu­sion of a study or ex­tra bath­room.

Prices for a sin­gle-bed apart­ment range from $405,000 to $515,000; a twobed­room lay­out will set you back be­tween $450,000 to $750,000; and three-bed­room apart­ments start from $810,000 to $845,000.

The build­ing will also fea­ture 115 base­ment car parks over five lev­els.

The dis­play suite is at 40-42 Vil­liers St. For de­tails, call 9684 8182 or visit thep­rin­ci­palmel­

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