The best completed Melbourne apartments selling in May 2023: Part I
Capital city rents are being pushed higher and higher due to a huge imbalance between supply and demand, which is forecast to continue, particularly across Melbourne where the metrics point to a huge undersupply of apartments looking ahead.
CoreLogic’s monthly Australian Unit Market Update in April shows growth across capital city unit rents (+1.6 per cent) continues to outpace house rents (+0.9 per cent).
That's seeing investors come back into the market, securing rental yields they've not seen in decades. The rental dilemma has put recently completed apartment developments at the forefront of enquiry.
Investors can start receiving rental income straight away, while also securing depreciation benefits on their investment.
Completed developments are also looked on favourably by first home buyers, many of whom have seen their rent increase significantly over the past 12 months.
Many first home buyers are saying their rent is now higher than what mortgage repayments would be on the same apartment.
We've wrapped up a list of the best ready-to-move-in apartments currently selling across Melbourne.
380 Melbourne
Brady Group's 380 Melbourne was one of the most popular projects on Urban in March. The twin tower project is home to a mix of one, two and three-bedroom apartments, which start from $570,000.
Designed by Elenberg Fraser, the 65-level towers are located in the heart of the city on Lonsdale Street.
The interior design of 380 Melbourne is sensory with an expression of personality and unique identity. The towers offer a range of colour palettes, sophisticated materials and distinctive touches, such as Oak timber floorboards, paired with cutting edge fixtures and high quality Miele kitchen appliances. The light-filled living areas are open-plan and provide panoramic outlooks to the CBD, with many featuring bespoke bay windows.
The towers also include 300 hotel suits, along with a retail and cafe arcade, which links the development to the public domain through a low-lying podium that resembles a cascading ripple.
An array of resident's only amenity has also been incorporated, with a resident's lounge and a games room with table tennis, air hockey and foosball tables.
There's also a private cinema and karaoke room, along with steam rooms, a sauna, private bar dining and lounge areas, a rooftop garden, 25-metre heated lap pool, and an outdoor terrace with barbecue facilities and seating.
FOCUS
The most recently completed apartment tower in Southbank is Central Equity's FOCUS, which has proved a popular choice for locals who want to remain near the city while enjoying a neighbourhood feel.
The 50-level building, with a mix of one, two and three-bedroom apartments starting from $499,000, is ideally located on City Road.
There are a range of one, two and three-bedroom apartments on offer in FOCUS, designed with space and family living in mind.
Buyers have also been sold on the location of FOCUS, which places residents on the doorstep of the arts precinct and its upcoming $1.7 billion revamp.
Melbourne Square
Rising about Melbourne’s internationally acclaimed Arts Precinct, Melbourne Square is at 93-119 Kavanagh Street. In partnership with Cox Architecture and Carr design, OSK Property have delivered a five-acre mixed-development with two residential towers soaring above – the East and West Tower.
The residences on offer are an array of premium two and three-bedroom apartments and penthouses, alongside a wide range of in-house exclusive amenity.
The contoured terraces of the podium connect to the streets of Southbank across the new gardens, piazzas, cafés, retail outlets and supermarket.
Boasting an expansive 14,000 sqm of private and public facilities, the first stage of the Melbourne Square precinct features a host of considered integrations to encourage an active lifestyle, including a full-line Woolworths supermarket, 3,745 sqm public park and 87-place childcare centre.
Liberty One
Footscray, situated at the Western gateway to Melbourne, has rapidly gained popularity among urban dwellers seeking a vibrant inner-city lifestyle.
As the area continues to flourish and evolve, Bensons Property Group's Liberty One stands tall as a beacon of opulent living, offering an unparalleled opportunity to immerse oneself in the vibrant spirit of Footscray. Recently, the development welcomed its first wave of residents, marking a significant milestone for the project.
With 24 levels, including a rooftop oasis and four basement levels dedicated to parking, Liberty One encompasses 378 one, two, and three-bedroom apartments, as well as ten retail shops located on the ground floor.
The architectural masterpiece, envisioned by CHT Architects, showcases a modern and sleek design. Its floor-to-ceiling windows not only provide ample natural light but also offer breathtaking panoramic views as one ascends higher within the tower.
Liberty One offers an array of luxurious residential amenities. The rooftop stands out as a remarkable feature, providing communal barbecue spaces, a lounge area, and even an outdoor cinema, all designed to enhance the residents' quality of life.
On the ground floor, the Joseph Road Precinct buzzes with convenient amenities, encompassing a sprawling 12,000 sqm space. Here, one can find an assortment of cafes, wine bars, three new parks, yoga studios, gyms, and a large-scale commercial supermarket, providing a vibrant hub at residents' doorstep.
Hawthorn Park
Hawthorn Park is a sophisticated residential mid-rise that is strategically located amongst Hawthorn East’s several transport, education, lifestyle and amenity offerings.
Designed by Rothelowman, Hawthorne Park delivers 368 one, two and three-bedroom apartments, featuring several amenities, including Melbourne’s first suspended sky pool.
Theatre rooms, a sky lounge, gym with a yoga and meditation studio and massage suites, hammock lounge, an indoor residents lounge and a garden pavilion are also part of the offerings.
The tower also features over 2000 sqm of parkland curated by acclaimed landscape architect Jack Merlo that bring the Hickory-constructed building to life. One, two and three-bedroom apartments are still available in Hawthorne Park.
FORME
ASX-listed developer Mirvac's latest residential project, FORME, the last stage in the group’s popular masterplanned Doncaster community, Tullamore, only recently welcomed it's first wave of residents.
There are just two-bedroom apartments remaining in the development, which have been designed by Mirvac’s award-winning, in-house design team.
The expansive two-bedders include large kitchens and light-filled living and dining areas, which seamlessly connect to outdoor living spaces, in the form of terrace balconies, with lush garden planters designed by renowned landscape architect, Paul Bangay.
Warm timber, elegant fittings and stone features have been incorporated into the residences, with the apartments complete with wool carpets, Miele appliances in the kitchens and Villeroy & Boch sanitary ware in the bathrooms.
The Next Gen Doncaster Health and Lifestyle Club offers FORME residents an unrivalled level of health and wellbeing.