Situated between Albert Park and South Yarra, the three tower project is one of the largest in St Kilda, an area that has seen a high concentration of developments go up in recent years.
Designed by architects Elenberg Fraser the project is expected to cost a total of $350 million and will be delivered by Builder Group.
420 new apartments will be delivered across the three buildings; 207 in Anaca, 122 in Magnolia, and 91 in Ginko.
The residential space totals over 7,300-square-metres and offers 60 different apartment floor plans including some whole-floor configurations.
Shakespeare Group is advertising five-star ‘resort style’ living amenities including a pool wrapped around three sunken pavilions, a BBQ, bar, casual dining area and sunken lounge areas for private gatherings.
The balconies are equipped with retractable screens allowing residents to adjust the sunlight in each apartment’s central internal spaces, while a ‘second skin’ of manoeuvrable windows maximises airflow within the units.
The development is currently 90 per cent sold off-the-plan with the remaining apartments expected to be snapped up by the end of the year.
It’s been defiant of the slow sales affecting Melbourne’s high-rise apartment market on the back of cladding and construction defects.
Colliers International director Brett Griffith said that there was a clear trend towards “final phase purchasing” as purchasers come into the market confident with off-the-plan projects.
“The prime location, great design, stunning amenities and the anticipated completion of construction in early 2020 have been the main drivers of successful sales,” Mr Griffith said.
Shakespeare Group director Catherine Law said the development had attracted high owner-occupier interest with buyers attracted to high-end opportunities on the city’s fringe.
“We understand that there is an increasing demand for luxury apartments designed for residents to call home.
“It is an excellent proposition for young professionals, families and downsizers,” she said.
Images courtesy of Shakespeare Group
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