Big Melbourne Apartments

The Melbourne developer Kincaid has appointed the longstanding Harris HMC to build its Heidelberg West apartment development, Cultivate.

The privately-owned and family-ran company, led by Dale Kennedy&nbsp;since 2006&nbsp;is among one of&nbsp;Australia&rsquo;s top per cent&nbsp;construction companies, having began build​ing in Melbourne back in the mid 1980s.

Having previously completed The Pullman Hotel on Swanston St and the premium 550 Bourke St office tower, Harris HMC currently has a strong workbook of projects, including&nbsp;Penny Lane, the mixed-use commercial residential development for Giancorp in Moonee Ponds, as well as Allison Parkside, 28 boutique two and three-bedroom apartments in Essendon.

They&#39;ve also worked on a $4.6 million fit out of&nbsp;North Melbourne FC&#39;s offices and changing rooms, as well as box suites&nbsp;at Marvel Stadium.

[smartcode_project:default project_id=628 project_image_fid=180701]

They&#39;ll be constructing the dual towers at Cultivate, which is over 50 per cent sold to a good mix of first home buyers, investors and owner occupiers.

Kincaid&rsquo;s development manager Joel Martin said it was a strategic move to engage Harris&nbsp;HMC&nbsp;as the builder&nbsp;for the project. They bring an array of skills to the table given their exposure to commercial, residential and fit out works.

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&quot;HMC has been doing great work in the construction space for nearly 40 years, delivering very well known projects across the state&quot;, Martin said.

&quot;The team has an expert knowledge of how to create contemporary apartment buildings, and we can&#39;t wait to see Cultivate start rising from the ground.&quot;

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There will be some movement on site at the end of the year, with construction ramping up fully early next year for its late 2023&nbsp;completion date.

Construction commencement tends to trigger price increase among off th​e plan developments, due to the nature of the progression of the construction and further costs associated.

Currently the apartments, which have interiors designed by DKO&nbsp;start from $369,000.

The two-bedroom apartments at the moment are priced from $479,000, over $130,000 less than Heidelberg&nbsp;West&#39;s&nbsp;median two-bedroom apartment price of $610,000.

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Cultivate is set to change the face of West Heidelberg, which is sandwiched between the established suburbs of&nbsp;Ivanhoe, Heidelberg and Preston.

The street-level will be revitalized, with retail space at the foot of the buildings, which each have separate and secure entry.

The City of Banyule Council has an extensive redevelopment plan for Bell Street Mall across the road, which will see the mall, dating back to 1956, completely regenerated.

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Kincaid development director Joel Martin said it was a no brainer to bring on HMC for the project

Joel Robinson

Kincaid appoint Harris HMC to build West Heidelberg apartment development, Cultivate

According to a report from the Melbourne City Council&rsquo;s planning department, the ongoing trend in the City of Melbourne was&nbsp;for increasingly small apartments, with 40 per cent having less than 50 square metres, the recognized minimum size of a one bedroom apartment in Sydney.

At the time of the late 2016 report, some two bedroom apartments were&nbsp;being marketed or proposed in the municipality that are of a similar size to that of one bedroom apartments in other cities.&nbsp;

Previous&nbsp;Institute of Architects Victorian president Peter Malatt has said, &quot;developers are building apartments that are uninhabitable; they&#39;re not restrained by any regulation; they&#39;re maximising profit.&quot;

Sydney&#39;s larger apartments consistently yielded much higher returns for investors, he said.

With larger apartments yielding better returns, Urban has picked out four developments that beat the trend and the Melbourne apartment size average without breaking the bank.

<h2>1. Queens Place</h2>

One-bedroom apartments from $439,600

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Developer 3L Alliance $1 billion twin tower development, Queens Place, rises 70 stories as one of the Melbourne CBD&#39;s largest residential developments.

Packed with resort-style amenities and rarities like childcare facilities, the&nbsp;one-bedroom, one-bathroom, one-study apartment in Queens Place is a sizable 62 square metres, starting from $532,400.

Situated at 350 Queen Street on the fringe of Flagstaff Hill, the development&nbsp;has been collaboratively designed by renowned&nbsp;architects from Fender&nbsp;Katsalidis and&nbsp;COX Architecture, with interiors by&nbsp;Hecker Guthrie.

<h2>2. Voyager</h2>

One-bedroom apartments from $601,500

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Mirvac&rsquo;s&nbsp;Voyager tower is the ninth completed tower in Yarra&rsquo;s Edge master plan community.

A one-bedroom, one-bathroom apartment is 63 sqm, more than 20% larger than the median, according to the data.

The $300 million, 315-apartment development on the&nbsp;Docklands&nbsp;waterfront&nbsp;rises 130 metres and is home to a sweeping range of facilities, including&nbsp;a resident sky deck, dining room and bar, hanging gardens, 270-degree skyline views and a cinema and karaoke room.

Contemporary apartments and a number of resident-only amenities have also encouraged investors to purchase into the development.

<h2>3. FOCUS Melbourne</h2>

One-bedroom apartments from $499,000

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FOCUS Melbourne at 75 City Road, Southbank, is the product of a partnership between Central Equity and Doig Architecture.

Set for completion in 2022, the 50 level building will comprise 592 one, two and three bedroom apartments. The one-bedroom apartments are 55 sqm at their smallest and are the most affordable one-bedders over 50 sqm on this list.

FOCUS Melbourne boasts a range of amenities, including a 17-seat luxe movie theatre, an expansive indoor/outdoor barbecue and social dining area, as well as lifestyle facilities including a pool, gymnasium and sauna.

<h2>4. St Boulevard</h2>

Two-bedroom apartments from&nbsp;$725,000

[smartcode_project:default project_id=1260 project_image_fid=177987]

While the one bedder&#39;s have sold out at St Boulevard, their&nbsp;two-bedroom apartments are larger than much of the competition. Two bedders range from&nbsp;72 sqm to 86 sqm, a size up from the 66 sqm median for two-bedroom apartments, according to the last available data.

For a limited time, St Boulevard is offering buyers a suite of incentives on completed one and two bedroom apartments in their Magnolia, Ginko and Anaca apartment towers.

Monetary incentives include a 5% deposit match and covering the first year of owners corp&nbsp;fees.&nbsp;St Boulevard, developed by The Shakespeare Group, is also offering a white goods package and a $12,000 Coco Republic furniture voucher.

Peter Malatt has said that developers are building apartments that are uninhabitable; they're not restrained by any regulation; they're maximising profit.



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