This development has caught our eye for all the right reasons. It’s located in a great area just 9 kms from Melbourne CBD, the building is stylish and funky and fits right in with the gentrifying neighbourhood and the price is excellent!
The northern suburbs of Melbourne are tipped to be the next growth corridor in the city due to accessibility and gentrification. Preston is perfectly positioned in the heart that corridor. As the panel beaters are moving out, bars, cafes and hipsters are moving in.
The 86 tram is right outside the door, taking you to the city or La Trobe University with ease. Trains and buses also service the area well.
The Austin Hospital is just 13 minutes drive, local Northland Shopping Centre has over 300 specialty stores and Preston Market is packed full of beautiful fresh produce. Chic cafes and boutique shopping are within walking distance on nearby Plenty Road or High Street.
The population growth rate of Preston is forecast to triple to 2031, 36% of residents are aged between 25 and 44 years and 70% of locals are white collar workers. Rental yield in Preston is 4.4% and the vacancy rate is 1.6%.
This boutique development, inspired by New York loft style living, has just 46 apartments that are spacious and light-filled. The fixtures and fitting have been carefully selected for their style and function, and the apartment design is focussed on comfort and lifestyle.
Each apartment features durable porcelain benchtops, engineered timber floorboards, European appliances, breakfast bar seating, feature pendant lighting, frameless glass showers and soft close drawers and cabinetry.
There’s nothing they haven’t thought of when designing these apartments.
One bedroom apartment with one bathroom, one car park, 50.5 sqm internal space and 13.4 sqm external is just $395,000. Rental estimate is great at $360 per week.
Two bedroom apartment with two bathrooms and one car park, 67.8 sqm internal space and 12.7 sqm external is just $540,000. Rental estimate is $440 per week.
If this development interests you, please get in touch and we can share more details and discuss whether it meets your investing strategy.
This development is scheduled for completion in October this year, so it’s perfect if you’re ready to invest now.
Please let me know if you want to know more about this excellent investment opportunity.
0416 049 226