Melbourne-based developer The Shakespeare Group has announced the topping out of its landmark $150 million St Boulevard development on St Kilda Rd.
With the topping out (final beam in place) of its $150 million St Boulevard development, The Shakespeare Group is moving closer to the completion of the residential building by early 2020.
The project’s topping out marks a considerable milestone for what is one of the largest multi-residential developments to hit the market along St Kilda Boulevard in recent years.
The St. Boulevard development is comprised of three residential towers across 7,300sqm with a total of 419 one, two and three-bedroom apartments, with several whole-floor residences occupying the upper levels.
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The project’s topping out, which has been brought to life by architects Elenberg Fraser and project managers Sinclair Brook coincides with improved market conditions.
Residences at St Boulevard are expected to sell before the building is fully completed. Photo: The Shakespeare Group
Exclusive selling agent Brett Griffith, Director, Colliers International, notes that members of the general public who’ve physically seen the building reach its peak have expressed new interest in the limited remaining apartments.
The increased volume of new enquiries reflects increasing demand for dwellings on the city fringe and consumers’ increasing need to be assured the development will be delivered.
St Boulevard is nearly 90 per cent sold and the remaining residences are expected to sell prior to the completion of construction.
“We are seeing a trend towards final phase purchasing, where buyers have done their due diligence on the finance and are ready to move in within the next six months,” said Mr Griffith.
“The increase in enquiries at this time also reflects interest from first homebuyers and owneroccupiers.
Mr Griffiths said the majority of buyers expressed intent to use the property as their primary residence.
A drawcard for owner-occupiers is the resort style living amenities: the expansive pool wraps around three sunken pavilions, each offering three distinct entertainment spaces and 18 unique
amenity elements in total, including a BBQ, bar, casual dining area and sunken lounge areas for private gatherings.
Construction across all three buildings, Magnolia, Ginko and Anaca is nearing completion, with Magnolia and Ginko completed towers slated for completion in early 2020, followed by Anaca in mid 2020.
Director of The Shakespeare Group, Catherine Law said St Boulevard had attracted owner-occupier interest because the development offered a complete lifestyle experience, just moments from the city.
“We understand that there is an increasing demand for luxury apartments designed for residents to call home, said Ms Law.
“Creating truly bespoke and customisable living options was a priority for us and it has impacted the level of interest from prospective owner-occupiers,” Ms Law added.
“There are more than 60 different apartment floor plans throughout the three St Boulevard buildings. Elenberg Fraser has been considerate of the residents’ needs.”
Features designed with owner-occupier comfort in mind include retractable screen design which allow residents to adjust the space, level of sunlight and usability of each apartment’s central internal spaces.
In addition, a ‘second skin’ – a patchwork of operable windows – allows the apartments to maximise airflow.
“The architectural innovation, coupled with the five-star resort style amenities, make it an excellent proposition for young professionals, families and downsizers trading in their traditional family home for a luxury apartment.” said Ms Law.
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