The Proximity on Queens development has seen a huge sales success with nearly 60 percent or 92 apartments sold over the first two weekends of its launch, proving that there is a strong demand for larger and more spacious apartments among Melbourne buyers.
Launched by National Project Marketing group MLG in July, Proximity on Queens is being developed by Peloton Group, which specialises in the development of luxury apartments.
While most Melbourne developers are cutting apartment sizes to keep them affordable, Proximity on Queens features large useable apartments and is still affordable with prices starting from $340,000.
The development features 159 significantly sized luxurious apartments, all with generous living areas and balconies.
“With a staggering 80 sales, the public launch last weekend confirmed the Melbourne market is not only accepting but demanding larger apartments. Due to the popularity of the development, and in particular its value for money, it is expected that Proximity on Queens will sell out shortly due to the enormous initial interest,” said Marcus Gilmore, Managing Director of MLG and marketing agent for Proximity on Queens.
“Apartments can be purchased for as low as $5,700/sq m with many other apartments starting at $8,000-$10,000/sq m. Buyers are now doing this $/sqm analysis and are not simply accepting a low entry point for a certain number of bedrooms, and on that basis this is unquestionably the best value in the market,” added Mr. Gilmore.
Prices start from $340,000 for one-bedroom apartments to $1.775 million for a penthouse.
Two of the three penthouse apartments have already been sold.
“We expect this to sell out quickly, with its prime views of Albert Park Lake, which takes advantage of a 64sqm entertainment deck,” said Mr. Gilmore.
The project is expected to be completed by mid to late 2012.