Golden Age Group set their sights upon the luxury residential sector

The premium residential market is firmly in Melbourne-based Golden Age Group's sights, with two residential projects signifying the developer's willingness to cater for the pointy end of the market. On the recent opening of Opera Melbourne's display at 450 St Kilda Road, Urban Melbourne spoke with Golden Age Group's Project Management and Sales Director, Ronald Chan.

Joining Opera in the pursuit of the luxury sector is the release of Collins House's penthouse located on level 56 of the tower or 195 metres above Collins Street. The two-storey, three-bedroom, three-bathroom plus study penthouse will span 245 square metres and come in at a cool $6.88 million.

Project architects Bates Smart have also conceived two sub penthouses of 213 and 225 square metres, with three bedrooms and three bathrooms plus study featuring the same fixtures and finishes as the penthouse. List prices for the sub penthouses begin at $3.5 million.

The Collins House penthouse. Image courtesy Golden Age Group

Asked of the markets in mind for both Collins House and Opera, Ronald Chan explained that Collins House was generally catering for a buyer with a high-end corporate background while Opera was attracting local buyers from surrounding suburbs such as St Kilda. To date display visitors have been downsizers, retirees and owner-occupiers intent on a leafy location close to both the CBD and bayside Melbourne.

Both Collins House and Opera Melbourne are averaging a $10,500psm price tag, with Opera Melbourne's car space included within that price.

Opera Melbourne as of late last week had secured 70 confirmed sales with 40 reservations in the process of being formalised. With 228 apartments in total, the uptake to date has seen in excess of 70% purchased by local buyers with a smattering of offshore sales. Offshore sales are not front and center in the Opera Melbourne sales campaign according to Ronald Chan, with only a handful of sales in locations such as Malaysia and China; marketing of the project in these countries is more about brand recognition than achieving bulk project sales.

Bates Smart are once more the architect of choice, and asked whether this signifies an ongoing relationship between the two, Ronald Chan stated Opera Melbourne was subject to a limited design competition in which Bates Smart were victorious on this occasion.

Opera's exterior and pool area. Images courtesy golden age Group

Shaped in order to reference the adjoining Airlie Mansion, the tower will see a host of residential services and communal spaces at ground level. A concierge, event manager, personal trainer, art curator, sommelier and yoga instructor will be on hand to cater for future residents needs while communal spaces include a gym, spa, wine cellar, dining area, outdoor BBQ and terrace, library and swimming pool; the latter with a typically elegant and understated Bates Smart touch.

Opera Melbourne's display carries a suitable 'wow factor' upon entry, fitted with finishes intended to mirror the final product. All interiors can be completed in three schemes with the 'Opera' finish designed to be the premier outcome. Golden coloured fittings and trim, deep blue feature walls and marble finishes are available and designed to purvey a sense of luxury.

Ronald Chan explained there's been a trend toward white, simple and clean interiors of late which he believes has become all too generic. The use of rich colours in both the Collins House penthouses and Opera Melbourne finishes is designed to set the Golden Age Group projects apart from the pack.

An indicative two bedroom apartment within Opera. Image courtesy Golden Age Group

Both Collins House and Opera Melbourne are expected to begin construction during early 2016. While Golden Age Group have been active in the Sydney market with a number of site acquisitions of late, the developer is scouting further prospective Melbourne development sites capable of handling premium apartment developments.

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