Apartments in the Orrong Road development started at $1.6 million.
“It is unusual for residential properties of this calibre to sell so quickly off the plan as it’s predominantly owner occupiers buying in this price range,” Mr Birner told Secret Agent. “It goes to show that not all empty nesters are heading to apartments in St Kilda Road and Docklands.”
Also hoping to ride the suburban market apartment wave, is the Buxton Group which this week announced plans for a $14 million, 41-unit project at Nott Street Port Melbourne.
Also targeted at the owner occupier, apartments in the project – designed by boutique architect firm Plus Architecture – will include unobstructed views over the South Melbourne township to the CBD.