Australian Unity announces $120 million, vertical retirement high-rise overlooking Albert Park Lake
Australian Unity will add a new landmark to the Melbourne skyline with The Grace Albert Park Lake.
It is a $120 million, vertical, independent retirement community.
The Grace Albert Park Lake will be marketed as the most prestigious address of its kind in Australia.
"With Melbourne’s ageing population forecasted to almost triple from 2011 to 2051, there is an increasing demographic seeking a future home that offers world-class design and facilities, beautiful residences, and an exceptional level of service,” says Kevin McCoy, Chief Executive Officer for Independent and Assisted Living at Australian Unity.
Located at 128 Albert Road on an 1,100 square metre site overlooking Melbourne’s most famous lake and
surrounding parklands, The Grace Albert Park Lake will comprise 79 residences across 18 levels.
The one, two and three bedroom apartments vary in size from 78 to 301 square metres, and will be priced from $650,000.
One penthouse (three bedrooms plus study) will be situated on the top level, with two outdoor terraces providing uninterrupted views of Albert Park Lake, the bay and surrounds, priced at $4.5 million.
In its 19th retirement community, Australian Unity has engaged Fender Katsalidis Architects and Mim Design.
David Sutherland, Director at Fender Katsalidis said an architectural element will be the courtyard community clubs running vertically through the building, devised to provide a variety of spaces to stimulate the mind, cultivate physical and mental wellbeing, and share skills and experiences with other residents.
An Artists’ studio will accommodate painting, crafts and other creative pursuits, and a purpose-built Games Room will be devoted to activities that engage and challenge the mind. An Explorers’ Den will feature maps, atlases and travel books to explore or reminisce about experiences from all corners of the globe, and the Edible Garden will be full of fresh herbs, pot plants and greenery for residents to enjoy.
There will be a Piano Lounge and bar, a Theatrette for an intimate cinema experience, a health and fitness centre and an indoor pool. A private dining room seating up to 14 will be located on level 2 to entertain guests, and its 147 square metre rooftop terrace will have barbeque facilities and incredible lake views.
“We designed the interior spaces to engage with residents and create a sense of pride, nostalgia and calm,” explains Miriam Fanning, Founding Director of Mim Design.
The lobby will have a concierge.
Each apartment has a dedicated secure car space and storage facility, with the penthouse and three bedroom plus study residences having two car spaces each.
Australian Unity has partnered with Marshall White Living to sell The Grace Albert Park Lake,
Construction of The Grace Albert Park Lake has commenced with completion scheduled for late quarter one 2019.
Also owned by Australian Unity, the adjacent building is proposed to provide future residential aged and accommodation services, tailored to the needs of individual residents, as part of Australian Unity’s ongoing commitment to providing access to a spectrum of care services.
