Buxton-Backed Roulston Sells Out Malvern Projects in Muted Melbourne Market

Two luxury apartment projects in Malvern have sold out off the plan, despite a muted Melbourne residential market. 

The $80-million 27-apartment Central Park Residences and 24 apartments at the $56-million Malvern Gardens are being developed by Roulston and Buxton Group, with Moda and Salta Capital also involved in the Central Park Residences project. 

Roulston director Rollo Wright said it was an uncommon result for Melbourne’s residential market. 

“Achieving a full sell-out across both projects prior to both projects topping out really highlights the power of exceptional design, unmatched locations, and unwavering craftsmanship in today’s market,” Wright said.

“At Central Park, our design philosophy is all about embracing the surroundings, walls of windows offering park-front views and west-facing outlooks toward the city skyline help create residences that are both soulful and striking.”

Wright said Malvern Gardens’ design had resonated with its sense of place within the neighbourhood.

“With ornamental ponds, mature gardens and leafy boulevards on the doorstep, residents will enjoy a lifestyle that combines the refinement of heritage with a modern, sustainable design ethos,” he said. 

▲ It is the developer Roulston’s eighth and ninth projects in the area.

The Ewert Leaf-designed projects feature Jack Merlo landscaping and a focus on natural light. 

According to Charter Keck Cramer data, build-to-sell apartment supply in Melbourne is down 42,800 apartments for the period 2021-2025, compared with 2016-2020. 

But there are green shoots appearing for the Melbourne market. Home values have increased 1.2 per cent in the three months to July.

Melbourne has also recorded a mild uptick in growth rates, according to Cotality’s rolling 28-day change in home values, which was recorded at 0.4 per cent as at August 13, 2025.

But values remain 3.4 per cent below the record high of March 2022. 

Data also points to a slower market compared with last year, with properties on the market for a median of 37 days in July 2025, compared with 35 in 2024 in Melbourne, and well above the capital city average of 31 days. 

Marshall White director Leonard Teplin said the project had achieved strong results off the back of key strategies. It was marketed through an existing database and local media, and all of the buyers had been from within a 5km radius. 

The projects were Roulston’s eighth and ninth projects in the area, with other boutique residential projects at Armadale and Malvern East.

“The developer knew the buyer well, how they live in the spaces and what makes an apartment comfortable,” Teplin said. 

Teplin said it was the small details, such as where the towels and the bed sheets go, and building in the wiring for electric curtains and blinds, “everything is considered”.