Toorak Park: A rare opportunity to buy in Toorak's best residential village
Toorak has long been billed as Melbourne's most blue-chip suburb.
It's where the most expensive real estate in the state is located. A recent report by The Australian found there's more billionaires and millionaires in the 250 Rich List living in Toorak than any other suburb in Australia.
The majority of new apartment developments coming onto the market in Toorak generally start at $2 million, and are targeting either the local downsizer, or a downsizer from another neighbouring affluent suburb.
Given the suburb is dominated by families (over 60 per cent according to the latest census), there's been very little opportunity to secure new, or even near new, apartments built this side of even 2010, which makes the latest offering a rare proposition for those trying to enter the Toorak market.
A mix of one, two, three and four-bedroom apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by the ASX-listed development giant Lendlease.
An international fund manager secured a number of apartments when the project was completed a few years ago, and is now deciding to sell the assets.
The 2.5 hectare project, aptly named Toorak Park given its located behind the leafy Toorak Park, was designed in collaboration between Denton Corker Marshall and Carr Design Group.
The 16 building-project features extensive landscaping by landscape architecture by Tract. Open space makes up about up a third of the development, which also features a bluestoned plaza with a convenience store and cafe, as well as communal gardens.
Denton Corker Marshall director John Denton said the practice took its cues from its local surroundings.
"We looked at the Beatty Avenue shops on one side of the lines and saw we could create a place with its own character on the other side," Denton said.
"We wanted to build a village within a village.
"We sought to open up access to the railway station and Beatty Avenue from Orrong Road by creating a central boulevard that is, in effect, a new leafy road in Armadale. The newest area in the neighbourhood will connect with one of the oldest."
There's extensive resident facilities, including a swimming pool and a gym.
Predominantly owner-occupied, Toorak Park sits in one of the area's most connected pockets, just across the road from Toorak Station and just off the lively Orrong Road.
Every one-bedroom apartment on offer has a car park, unheard of in the entry-level Toorak apartment market, which in itself has been unheard of for a number of years.
