Downsizers set to swoop on new penthouses at Motif Geelong
While Melbourne has seen a generational shift of new apartment towers in the last decade, the high-density sprawl is yet to reach Geelong.
Geelong, the harbourside city that has grown significantly due to millions of dollars worth of private and public investment, has only seen a handful of new apartment developments come to life in recent years.
Given the lack of new developments across the city, what has been even more rare has been the availability of new penthouses. That’s what makes the four penthouses atop Motif Geelong, currently being developed by DM Property and Icon Kajima, a golden opportunity for those looking to downsize on the edge of the burgeoning city.
Just four apartments sit on the penthouse level, and offer the ideal lockup and leave lifestyle which has proven scarce in the Geelong region for many years.
The timing of the release is set to benefit downsizers, given the VIC Government's move in October to scrap stamp duty in the new apartment space for 12 months, a move that is likely to encourage downsizers in particular out of their family homes and into a new, large apartment, without the expensive duty transfer they would have previously paid.
The penthouses, three three-bedroom apartments and sole two-bedroom apartment, offer the best views from the sixth and highest level of the boutique York Street building designed by Rothelowman.
Each penthouse, with upgraded Fisher & Paykel integrated appliances, offers expansive views of the Geelong CBD as well as water views of the bay. They have been oriented so the open plan kitchen, living and dining room meets the balcony that captures the extensive views.
Stuart Marsland, Principal of Rothelowman, said the site for Motif has the advantage of not just being on the edge of the city, but also the edge of the bay.
"Our vision was to provide high-quality spaces for living and working that take advantage of views in all directions," Marsland said.
An internal light well in the building invites additional daylight, while the ground floor features a communal, plaza-like area landscaped by ACRE, as well as a shared rooftop terrace.
More than 60 per cent of the 129 apartments have been snapped up since the development launch back in September last year. In a sign of tight supply in Geelong, there has only been one other development launch in the last 12 months.
The development has proven popular with local first home buyers, investors, both those from Melbourne and Sydney, as well as local downsizers.
Located at 1 York Street, just outside the CBD, the project is on the doorstep of Pakington Street’s bustling café and dining scene, the Little Malop Street cultural precinct home to the Geelong Library and Heritage Centre, and close to waterfront attractions.
Motif is the first apartment development on the Bellarine Peninsula to be built by regarded construction firm Hamilton Marino, strengthening confidence in buyers the building will be completed to a high standard. There's also the expertise from Icon Developments, owned by the publicly listed Kajima Corporation, one of the world’s largest property and construction companies.
DM Property, founded by Brendan Mullan and David Dordevic, kicked off their development journey with the successful Sandringham townhouse development, Early 3191, which will be ready for occupancy early next year.
They have a new townhouse project coming up early next year in Brighton.
Construction of Motif is well underway, with completion slated for late 2025. RPM Group is handling the project sales.
