Point Cook’s first apartment block is a sell-out long before the development is even completed.
Soho Village, at the front of the Alamanda estate on Sneydes Road, has quickly become popular among young couples entering the housing market and retirees wanting to downsize without going to a retirement village.
The brainchild of developer Masbuild and architects ClarkeHopkinsClarke, the four-storey development will include 27 one and two-bedroom apartments, 49 townhouses, home offices, shops, restaurants, a medical centre, yoga studio and church.
ClarkeHopkinsClarke architect Dean Landy said some of the shops were already open, with the apartments set to be finished by the end of this year and the townhouses by February 2016.
Mr Landy said the properties had been snapped up by predominantly owner- occupiers.
He said they offered a good entry price point for first-time buyers – with apartments starting at $260,000 – and low-maintenance living with amenities at their doorstep.
“The idea behind it was to create a point of difference between what was surrounding it in terms of housing and shopping centres,” he said.
“We wanted to create a great place with a good retail offer and restaurants, as well as offices, medical centres and a yoga studio.
“It starts to build a good context for apartments and home offices. There hasn’t been the offer of apartments in that area before and it’s been received really well.”
Meanwhile, construction has started on the first high-end apartments at 116 Watton Street.
The five-storey development will include 11 retail spaces on the ground floor and 26 two and three-bedroom apartments.
Real Estate Institute of Victoria chief executive Enzo Raimondo said apartment living had become more popular due to a greater supply across the inner city, outer suburbs and even regional areas.
“Buyers enjoy the low-maintenance living that apartment complexes provide, along with the amenities that often are provided with the development,” Mr Raimondo said.
“Investors, too, are showing strong interest in this sector, especially multi-bedroom apartments in well-built blocks.”
