Smaller Apartments to Become the Norm

IF you think the average size of new inner-city apartments has shrunk, you’re right.

And what some are calling a stroke of sustainable genius, others are calling an opportunity to capitalise on supercharged demand by cultures, which have come from environments where relative micro-sized apartments, are the norm.

Australian Institute of Architects president-elect Karl Fender told the AFR two-bedroom apartments of about 50 squares will become the norm.

Until recently – and through building booms in the 1960s, and 2000s – an average one-bedroom apartment would measure between 50 and 60 square metres.

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Forza Capital Pays $14 Million for Cheltenham Office, Melbourne

ONE of Melbourne’s bigger mid-suburban office sales this year has quietly taken place in Cheltenham.

Property investment group Forza Capital has paid private developer Glenuc $14 million for 294 Bay Road, which includes a new 4,772 office building, and 4900 square metre adjoining development site.

The office is leased to service provider iSelect and will initially accommodate 320 of its employees. iSelect has an option to occupy a 10,000 square metre office earmarked for the vacant block.

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