High-rise building sells out
EVERY apartment of Geelong’s soon-to-be tallest building has sold while the skyscraper is still under construction.
Demand for apartment living is high with other new developments also creating a lot of interest.
The 21-storey skyscraper Miramar has sold well before it is expected to be completed by the end of this year.
Whitford, Newtown agent Andre Veronie said they started a campaign just before Christmas to sell the last eight apartments.
“We expected to sell out by May but no, we have done that in a few weeks,” Mr Veronie said. “Out of the eight, six were owner occupiers which is in line with the rest of the building.
“A lot of the buyers were from the Bellarine Peninsula and overwhelmingly so.”
He said perhaps buyers in Drysdale and Clifton Springs were coming off houses but wanted to keep that north-facing aspect.
Geelong buyers also made up a big proponent of the sales.
Mr Veronie said the sales had “exceeded expectations”.
Meanwhile The Mercer, a couple of doors away, has also seen strong buyer interest with only six to eight apartments left to sell, that are being held until the development is complete.
Developer Matthew Sun said their sales office had closed and they would not be selling the remaining apartments until it was completed, which is expected in late September.
“In the last month we will get a sample apartment ready where people can come in and see and touch it,” Mr Sun said.
Elsewhere in Geelong there is only one apartment left to sell in the G1 Apartment development.
Local agents Hodges are selling two other residential apartment developments, the Ryrie Residences in Geelong Quarter and Metropol in Geelong West.
More than 30 per cent of the 14 apartments in the Ryrie Residences have sold while 63 per cent of the exclusive townhouses and apartments at Metropol have sold.