Seven retail assets on the ground floor of a Mill Park apartment complex, construction of which has just begun, sold for more than $5 million within a week of the campaign being launched.
The Olea development (artist’s impression, top) is proposed by joint venture partners Gibson Property Corporation and Roche Property Group. Olea is the final project earmarked within their mixed-use Mason Point precinct, about 19 kilometres north of the Melbourne CBD.
The boutique product, designed by Idle Architecture Studio, will rise four levels and contain 52 “generously sized” two-bedroom dwellings, each with underground car parking.
Figurehead Construction started construction of the project for GPC and RPG this month.
“Selecting a competent contractor with the requisite experience to undertake this project is paramount in ensuring a quality final product,” GPC managing director Charles Gibson said.
Mason Point is a mixed-use complex under construction at the south-west corner of Plenty Road and Bush Boulevard – a street which extends to merge with the busy McDonalds Road.
The six hectare site is making way for houses and workplaces expected, upon completion, to employ about 1500 people. Mason Point is about 250 metres from the Westfield Plenty Valley shopping centre and 800 metres from the South Morang train station.
“The Mason Point community is one that we are proud of. It has been designed to offer residents a unique and natural setting, whilst being located in an area of high amenity,” Mr Gibson said. “With over 350 residences now sold out across previous releases, Olea represents an opportunity to secure an affordably luxurious lifestyle in an established community.”
The Olea apartment complex, at 54 Oleander Drive, is due for completion next year.