Four new Melbourne city apartments super-upsizing the competition
According to a report from the Melbourne City Council’s planning department, the ongoing trend in the City of Melbourne was for increasingly small apartments, with 40 per cent having less than 50 square metres, the recognized minimum size of a one bedroom apartment in Sydney.
At the time of the late 2016 report, some two bedroom apartments were being marketed or proposed in the municipality that are of a similar size to that of one bedroom apartments in other cities.
Previous Institute of Architects Victorian president Peter Malatt has said, "developers are building apartments that are uninhabitable; they're not restrained by any regulation; they're maximising profit."
Sydney's larger apartments consistently yielded much higher returns for investors, he said.
With larger apartments yielding better returns, Urban has picked out four developments that beat the trend and the Melbourne apartment size average without breaking the bank.
1. Queens Place
One-bedroom apartments from $439,600
Developer 3L Alliance $1 billion twin tower development, Queens Place, rises 70 stories as one of the Melbourne CBD's largest residential developments.
Packed with resort-style amenities and rarities like childcare facilities, the one-bedroom, one-bathroom, one-study apartment in Queens Place is a sizable 62 square metres, starting from $532,400.
Situated at 350 Queen Street on the fringe of Flagstaff Hill, the development has been collaboratively designed by renowned architects from Wayne Gardner and COX Architecture, with interiors by Hecker Guthrie.
2. Voyager
One-bedroom apartments from $601,500
Mirvac’s Voyager tower is the ninth completed tower in Yarra’s Edge master plan community.
A one-bedroom, one-bathroom apartment is 63 sqm, more than 20% larger than the median, according to the data.
The $300 million, 315-apartment development on the Docklands waterfront rises 130 metres and is home to a sweeping range of facilities, including a resident sky deck, dining room and bar, hanging gardens, 270-degree skyline views and a cinema and karaoke room.
Contemporary apartments and a number of resident-only amenities have also encouraged investors to purchase into the development.
3. FOCUS Melbourne
One-bedroom apartments from $499,000
FOCUS Melbourne at 75 City Road, Southbank, is the product of a partnership between Central Equity and Doig Architecture.
Set for completion in 2022, the 50 level building will comprise 592 one, two and three bedroom apartments. The one-bedroom apartments are 55 sqm at their smallest and are the most affordable one-bedders over 50 sqm on this list.
FOCUS Melbourne boasts a range of amenities, including a 17-seat luxe movie theatre, an expansive indoor/outdoor barbecue and social dining area, as well as lifestyle facilities including a pool, gymnasium and sauna.
4. St Boulevard
Two-bedroom apartments from $725,000
While the one bedder's have sold out at St Boulevard, their two-bedroom apartments are larger than much of the competition. Two bedders range from 72 sqm to 86 sqm, a size up from the 66 sqm median for two-bedroom apartments, according to the last available data.
For a limited time, St Boulevard is offering buyers a suite of incentives on completed one and two bedroom apartments in their Magnolia, Ginko and Anaca apartment towers.
Monetary incentives include a 5% deposit match and covering the first year of owners corp fees. St Boulevard, developed by The Shakespeare Group, is also offering a white goods package and a $12,000 Coco Republic furniture voucher.