The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterThu 22 Jun 17

Victoria Square Only Has 30% Left To Give On Launch Day

GL905_AptDev_HeroSlider_1800x600_02_1_0_620x380

Phase one of Victoria Square, the new six-tower $600 million masterplanned precinct in Footscray, will launch to public on the weekend with 70 per cent of apartments already sold.

Playing a pivotal role in Footscray’s rejuvenation, Victoria Square by Australian-based developer Growland has been popular with first home owners, upgraders and savvy investors due to its high quality architectural offering, affordable price points, and the exponential interest in Footscray’s property market.

Once a paragon of Melbourne’s working class, Footscray is undergoing significant gentrification that will see its value increase drastically in the coming years.

Evidence of the area’s growing appeal came from Core Logic data, which showed house prices in the area have grown by 8.82 per cent in the last 12 months, and apartment prices by 9.52 per cent in the same period.

Research think-tank Urbis reported that Footscray’s median apartment price experienced the highest annual price growth compared to other suburbs in the same radius from Melbourne’s CBD.

Growland CEO Ronald Chan, says Footscray’s strong potential is finally coming to light, and savvy buyers are recognising the opportunity the suburb presents.

“Buyers today are astute. They know that as Melbourne prices continue to grow, buying in a relatively affordable suburb like Footscray, where there are significant drivers for growth, is a wise investment option,” Mr Chan said.

[Related article:

Victoria Square To Deliver Affordable Entry To Melbourne’s Inner Ring]

‘It’s an inner-ring suburb that is seeing billions of dollars of private and government investment, so there’s no doubt it will flourish in the years to come.”

According to the Department of Transport, Planning, and Local Infrastructure, seven major infrastructure projects have now been completed in Footscray, and an additional six are underway, totalling $62 million in government investment. In combination with the private sector, Footscray will see $2.6 billion of investment through to 2021.

“This reaffirms to us that buyer sentiment is changing rapidly," Mr Chan said.

"Five years ago, the overwhelming majority of purchasers were keen to settle down into a family home and traded location for a big backyard.

"Now, we’re seeing depth in the market – while this dream still exists, a strong segment of the market is recognising the inherent value in an inner-city apartment thanks to the incredible lifestyle convenience and amenity it can offer."With an emphasis on creating a new community hub, Victoria Square will be home to over 3,000 square metres of retail space, including premium hospitality and retail offerings.

Residents will also have access to Australia’s first aerial outdoor track, as well as a pool, state-of-the-art-gym, 3000 square metres podium skypark and private cinema. Proving the developer’s commitment to the residents, all amenities will be developed in the first phase of the project.

Set to commence construction in mid-2018, the first tower at Victoria Square will encompass 240 one, two and three-bedroom apartments across 23 levels.

ResidentialAustraliaConstructionArchitectureReal EstateConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
The 16-storey mixed-use proposal comprises 132 apartments and 602sq m of retail/commercial tenancies...
LATEST
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
3 Min
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
3 Min
West End Stockwell Vulture Street DA hero
Development

Stockwell Files Tower Plans in West End Stomping Ground

Phil Bartsch
3 Min
Novus on Victoria Chatswood
Build-to-Rent

Novus Plots Second BtR Tower for Chatswood

Renee McKeown
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/victoria-square-30-left-give-launch-day