Advertisement

Collingwood still beats true for the apartment buyer

Buyers unsurprisingly are still showing a keen interest in Collingwood's apartment market, as demonstrated by Pace of Collingwood's strong sales.

Pace Development Group's latest project notched the enviable figure of accounting for 50% of the building's apartments during its first week at sales. This in turn has prompted Pace to commence construction on the project immediately, with an eye toward completion during the last quarter of 2017.

At 75 Wellington Street, Pace of Collingwood will include 77 apartments within the SJB Architects-designed 9 level edifice. As a developer/builder Pace will oversee construction of the project, which joins 808 Sydney Road and Pace of Northcote as fellow current builds under the Pace banner.

It’s very rare to see construction of a property development of this scale commence so soon after the launch. It’s one of the great benefits of having an in-house construction team and means we can confidently assure our purchasers on delivery timeframes.

Daryl Wilkinson: Pace Sales Manager
Pace of Collingwood's rooftop terrace

The strong sales result for Pace of Collingwood bodes well for the suburb's newly released Holme Apartments and the forthcoming release of 88 Cambridge.

With a number of projects freshly completed and no sign of buyer intent waning plus a relative dearth of projects at sales, prospective Collingwood apartment purchasers will be limited in what they can secure.

As a point of reference, Urban Melbourne has in the past highlighted the surge in apartment sales and subsequent construction boom that has blanketed many parts of Collingwood. Since late 2014, well in excess of 1,000 apartments have been completed in the area.

As these projects have been completed, others have filled the void, but in doing so have fallen well short of the volume of apartments being offered relative to recent years.

So much so the fresh release of Holme Apartments for sale is the only new release that buyers can peruse in Collingwood. The imminent release of 88 Cambridge will add to available buyer stock, as the Centreland Property-backed project looks to add 93 apartments to the suburb.

88 Cambridge is due to launch

1 comment

James Zhou's picture

Haha - Pace have been selling through channels for almost 12 months... Sold 50% in a week is laughable. When will developers actually tell the truth?

Back to top
Advertisement

Development & Planning

Wednesday, August 23, 2017 - 07:00
Hawthorn's Queens Avenue is emerging as an apartment hot spot of sorts, as developers realise the worth of converting the light industrial and commercial strip into a higher density apartment enclave. Running parallel to Burwood Road, Queens Avenue now has six apartment developments in progress.

Policy, Culture & Opinion

Wednesday, August 9, 2017 - 12:00
Carolyn Whitzman , University of Melbourne Liveability is an increasingly important goal of Australian planning policy. And creating cities where residents can get to most of the services they need within 20 to 30 minutes has been proposed, at both federal and state level, as a key liveability-related mechanism.

Visual Melbourne

Thursday, August 10, 2017 - 12:00
Part Three follows on from the Part One: Yarra's Edge and Part Two: Victoria Harbour. The focus of today's piece will be NewQuay and Harbour Town, the northern most precincts within Docklands. NewQuay NewQuay was the first precinct to open way back in 2003 and has probably evolved the most.

Advertisement

Transport & Design

Thursday, August 24, 2017 - 07:00
It's been a long time coming (15 months in fact!) but finally here's part two of my earlier piece on addressing Melbourne Central's corner to Elizabeth Street. The introduction of more stringent controls via Amendment C270 - the successor to Amendment C262's interim planning controls - has impacted on my earlier concept.

Sustainability & Environment

Monday, August 21, 2017 - 12:00
The notion of Melbourne becoming a 20-minute City has been explored heavily in recent times. Seeking to provide Melburnians with the ability to 'live locally', the 20-minute City, in essence, strives to provide people with the ability to meet most of their everyday needs within a 20-minute walk, cycle or local public transport trip of their home.