Metro strikes again in Melbourne’s inner-west
Metro Property Development (“Metro”) has secured another prime development site in Melbourne’s popular inner-west, with an acquisition at Maidstone, a suburb undergoing significant transformation.
The 2,500m2 infill site, located on Emu Street, is located 8km from Melbourne’s CBD with Metro planning to build 15 to 20 luxury townhomes similar to its sold-out Highbury Townhomes at West Footscray.
Metro State Manager - Victoria, David Steele, said the site was smaller than its Highbury Townhomes development but provided a good opportunity to continue the company’s growth in Melbourne’s inner-west.
“The recent acquisition of the Emu Street site provides Metro with excellent momentum in Melbourne’s inner-western suburbs, which are providing a popular choice with young professionals looking for affordable luxury close to the city,” Mr Steele said.
“Our Highbury Townhomes, located in neighbouring West Footscray and currently under construction, sold out in record time and we have a number of buyers who are still very keen to own property in the area.
“We are also progressing very well with our plans for a site at South Kingsville which we acquired in January this year.”
Metro currently has four projects under construction in Melbourne’s inner ring which are all sold out including Acacia Residences at Balwyn, Saxon at Ivanhoe, The Lincoln at South Yarra and Highbury Townhomes in West Footscray.
“Melbourne has been an impressive market for us over the past 18 months and we are keen to continue on maximising opportunities that become available in the highly sort after middle-ring suburbs which is our key focus area in this market,” Mr Steele said.
Metro is currently working through planning for 15 to 20 townhomes on the site, with plans for a market launch in early 2017. Construction on the site will commence shortly after the official launch.
David Steele said the Maidstone site would once again appeal to young professionals who are keen to get an affordable foothold in the market but didn’t want to compromise on quality, luxury or location to the city.
“This site represents a great opportunity for Metro to continue its focus on the luxury townhome market, which is popular with a variety of buyers from first-home buyers to downsizers,” Mr Steele said.
“Maidstone has a medium house price of almost $640,000 and this development, like all of our recent Melbourne projects, will deliver luxury family-sizes townhomes at an attractive price.
For more information about Metro’s upcoming launches visit www.metroprop.com.au or search metro_au on social media.
Virtue at Harrisdale – Metro’s first project in the west
The Metro WA team recently launched their first development, a 10 lot house and land development in the popular residential community of Harrisdale located 25 minutes south of Perth’s CBD.
Nestled within pristine parklands and the lake of this high quality established area, Virtue at Harrisdale offers a unique and affordable sanctuary.
Four of the ten house and land packages have already been sold with significant interest in the remainder of the development.
Virtue at Harrisdale will deliver Metro an estimated end value of $5 million with construction set to commence in coming months.
New townhouse and apartments on golf course mark beginning of Metro's NSW major project pipeline
National residential developer, Metro Property Development (“Metro”) has received DA approval from Strathfield Council for a $260 million Town Home and Apartment development on part of the Strathfield Golf Club site, representing its first major apartment development in New South Wales.
The 20,200 square metre site at 84 Centenary Drive was acquired by Metro last year. Metro will create a new residential community on the site, comprising 50 luxury Town Homes and 178 apartments, with expectations to launch in the next six weeks.
High-profile architects Marchese + Partners have been appointed to design the project. The Town Homes will offer spacious three and four bedroom designs over two and three levels, some with expansive views of the adjacent golf course. Apartments will come in a range of configurations including one, two and three bedroom designs.
“We are very pleased to have received full development approval and look forward to launching the project to the market later this month. We have already experienced a lot of early interest from buyers keen to live in this unique location right on the golf course,” said Phil Leahy, of Metro Properties.
“With a full turnkey offering exclusively located on the golf course, we had anticipated a lot of interest. The proximity to transport as well as retail and education hubs present a solid investment and lifestyle option,” he said.
Principal of Arcadia Landscape Architecture, Alex Longley said the design looks to capture the lifestyle and amenity of its location.
"We have used high quality finishes and furnishing throughout the al fresco dining areas. Open spaces are separated by flora and fauna connections, using a planting palette that will connect the golf course into the grounds of the estate,” said Longley.
Strathfield Golf Club is also currently building a new Clubhouse, expected to be complete in late 2017. It will include a range of upgraded facilities a short walk from the development site.
Construction of the Town Home site commences later this year with completion due in late 2017.
Metro has been active in the New South Wales market for over a year now, working with its home building arm Creation Homes to deliver brand new architecturally designed homes at high quality for more affordable prices across Sydney’s key growth areas.
Metro has launched several housing estates across Sydney in the last year in key growth areas such as Kellyville and Catherine Field.