Why Hawthorn Park apartments have been attracting investor interest
Investors have been attracted Dahua Group's recently completed their $300 million apartment development Hawthorn Park, their biggest apartment development in Melbourne.
They've been alerted to the area due to its recent median price growth of 10 per cent, as well as Hawthorn East's increasing median rental growth.
Over the ten-year period to March 2021, Hawthorn East apartments have seen six per cent median rental growth per annum, according to the Department of Human Services and Urbis.
The suburb is comprised of 40 per cent renters, DHS found, with SQM Research calculating a current rental yield of 3.5 per cent in Hawthorn East being inline with Melbourne's overall yield.
Dahua said looking forward, high demand driven by the catchment’s proximity to education, transport and amenity, coupled with the ongoing growth of the renal market, is likely to attract market interest from interstate and overseas investors.
The suburb is renter friendly due to that connectivity to the city. Three train lines run near the 33 Camberwell Road development, which has a very high walk score of 90 and has been labelled a walker’s paradise.
The city is within cycle distance for residence, given the 7.6 kilometre commute to the CBD on Melbourne's many bicycle lanes. The nearby Gardiner’s Creek Trail links with the Capital City Trail and Main Yarra Trail.
Infrastructure around Hawthorn Park is already in place, with four major shopping areas including Camberwell Junction, Glenferrie Road, Camberwell Road and Burwood Road close by.
Designed by Rothelowman, Hawthorn features a number of exclusive amenities including Melbourne’s first suspended sky pool, theatre rooms and sky lounge. They have delivered a mix of 330 one, two, three and four-bedroom townhome and apartment residences.
Hawthorn Park is a residential mid-rise that is strategically located amongst Hawthorn East’s key transport, education, lifestyle and amenity offerings. It is also attractive for families, due to the nearby educational facilities that include;
- Auburn Primary School
- Camberwell Primary School
- SEDA College (Victoria)
- Swinburne Senior Secondary College
- Preshil, The Margaret Lyttle Memorial School
- Swinburne University of Technology
- University of Divinity
- University of Melbourne
The project also features over 2000 sqm of parkland curated by acclaimed landscape architect Jack Merlo.
As well as the pool, Hawthorn Park features a fully-equipped gym with a yoga and meditation studio and massage suites, hammock lounge, an indoor residents lounge and a garden pavilion.
