Herald Sun - Property

Aspire to new station in life

- KAMAHL COGDON

A USED-car sales yard is making way for stylish new apartments on a prominent corner site in Preston.

SP Projects managing director Steven Paglia said his Station 77 apartment developmen­t was part of the rejuvenati­on of the old working-class suburb, 9km north of the CBD.

The project will see 69 one, two and three-bedroom apartments built on the corner of Plenty Rd and Raglan St, with eight double-storey suites among the mix.

“The two-storey apartments are more like a penthouse,” Mr Paglia said.

“It’s something a bit different to your standard approach to apartment living. They are reasonably spacious without being over the top because the Preston market is still dollar driven.”

The relative affordabil­ity of the area and the abundance of commercial and light industrial sites ripe for redevelopm­ent were creating great opportunit­ies for apartment buyers, Mr Paglia said.

And he said an innersubur­bs village lifestyle was emerging in the area with funky cafes and specialty stores replacing dreary old shops.

“You’re seeing a total rejuvenati­on of the area,” he said. “My thoughts are that in years to come the Northcote, Thornbury, Preston area will be the South Yarra of the north, being so close to the city and with the infrastruc­ture so well establishe­d.”

Station 77 will be launched to the market on November 14 but Mr Paglia said there had already been strong interest from owner-occupiers and firsthome buyers looking for an investment property they could rent out for a few years to continue saving money before moving in.

Mr Paglia said older local buyers were also keen on the apartments to allow their adult children to buy the family home interest free.

The apartments at 77 Plenty Rd will feature balconies with great city views, double-glazed windows, bamboo flooring, spacious internal living areas, split-system airconditi­oning and kitchens with 40mm stone benchtops, Smeg appliances, an integrated fridge and dishwasher and a black mirrored splashback.

One-bedroom apartments are priced from $290,000 to $500,000, two-bedrooms are $450,000 to $690,000, and the lone three-bedroom design is $720,000.

For more informatio­n, call 1800 777 2537, visit the display at 161 High St, Preston, open 2pm-5pm Wednesday to Sunday, or see station77.com.au

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