Abadeen officially announce expansion into Victoria with two luxury projects
High-end Sydney property developer Abadeen has officially launched its Victorian arm, commencing work with two projects in Prahran East and Malvern East.
The expansion into Victoria aligns Abadeen's national growth strategy, having successfully delivered 80-plus projects over the past 28 years totalling over $3 billion of premium commercial, residential, and mixed-use developments, predominantly in Sydney's Lower North Shore.
Andrew Leoncelli, the former CBRE Residential Projects Director in Melbourne and development manager for Hamton Property Group, will be heading up Abadeen Victoria as their managing director. He's worked alongside Abadeen founder and chief executive Justin Brown for the last 15 years.
"Abadeen is renowned for crafting beautiful, lasting and aesthetically pleasing spaces that seamlessly blend with their surroundings and communities," Brown says.
"As we establish new standards for quality and collaboration in the Sydney market, our goal is to replicate this success in Victoria."
Brown says Leoncelli's wealth of local relationships perfectly aligns with their consumer-centric approach to development and placemaking, while Leoncelli says he holds a true appreciation for Brown's approach to bespoke development.
"I’ve worked in the property sector for over 20 years and have an appreciation and understanding of all aspects of the process-from identifying a site to bringing a project to life.
”Abadeen is backed by the strength of its people, partnerships, and an in-depth understanding of the Australian property market, and I look forward to elevating the business's success and creating more opportunities in Victoria.”
Abadeen Victoria recently unveiled its first luxury project, Maléa in Malvern East, just seven parkside apartments designed by Ewert Leaf.
They've also secured a site for their second project, 646 High Street in Prahran East, where they're planning a 24 two and three-bedroom apartment development designed by Carr Design.
The four-level building, with city and bay views, is located in close proximity to Armadale, Hawksburn, and Toorak Villages.
Leoncelli says the timing of the launch of both the Maléa and 646 High Street projects aligns with Abadeen’s vision and strategy for Victoria, as the group seeks to capitalise on the current resurgence of interest in luxury off-the-plan residences, particularly among downsizers and right-sizers in the market.
“There is an ever-growing appetite from local wealthy downsizers, wanting bespoke high-end apartment living," Leoncelli says.
"They have lived their entire adult life in the family home which they don’t need anymore. They want to upgrade their lifestyles whilst downsizing their maintenance and they want the very best of everything-all in walking distance to their favourite parks, restaurants, cafes and shops.
“The two sites we have bought demonstrate the very best of these ideals and the design teams we are working with, and the builders understand this market like very few can.”
Maléa celebrated its official launch to market on 18 November, with Stephen Bowtell, director of project sales for Jellis Craig in Stonnington, Richmond & Surrounds, leading the sales campaign.
Permits have been secured for both projects, with Maléa due to start construction at the end of March 2024. 646 High Street is due to be lodged for town planning applications in Q1 2024
