Geelong Quarter

The decision to buy the site of Geelong Quarter at 44 Ryrie Street back in 2017 was flagged as crazy by many, with Franze Developments Founder, Paul Franze, labelled “mad” even.&nbsp;

Now with 111 out of 124 apartments sold, including all 15 luxury residences, in the group’s twin-tower Geelong Quarter project, Franze has silenced the critics.&nbsp;

"If I remember back in 2017 when we were first offered the site. We had no idea at the time it would lead to us building the 1st Hotel in the city for some 20 plus years and the biggest private and largest mixed-use development in Geelong. Yet we had vision and we saw how Geelong was growing fast," Franze said.&nbsp;&nbsp;

The group also secured British hotel giant IHG Hotels &amp; Resorts and its Holiday Inn brand as the operator for the project’s 180-room hotel, the first new accommodation offering in the city for over 20 years.&nbsp;

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It’s been a long five years, with a pandemic in between, with the 15-level project topping out last month.&nbsp;

On the site of a former bus depot, the $200 million project has paved the way for developers, realising the potential of the state’s second city, which is only set to continue to develop.&nbsp;

As one of the biggest private sector developments in the bayside city, Geelong Quarter has launched a renaissance in the area, with the momentum of buyers looking to live outside the CBD only growing.

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Geelong’s proximity to some of the best surf beaches in the world, not to mention being home to a resurgent Geelong Cats team, have all added further gloss to the booming regional centre, Franze said.

“More than five million visitors come to Geelong annually, 45 per cent of which are overnight stays. The strong owner-occupier market, combined with the population boom, means there’s demand to cater for visitors to the city, as well as residents and workers. The Geelong Quarter has been designed with this in mind, to cultivate significant activity that will add incredible value to the city." he said.

Both the apartments and the hotel will further embed Geelong’s rising status, with the population expected to increase by 124,000 between now and 2041, along with being a popular tourist destination.&nbsp;

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On the residential side, plans by the City of Greater Geelong to quadruple the Geelong CBD residential population to more than 10,000 by 2030 is expected to drive demand for around 2500 apartments, while its liveability status has only been enhanced by the work-from-home trend.

Deputy Mayor Trent Sullivan said Central Geelong’s population is growing faster than the broader municipality.

“Geelong Quarter will not only attract new residents, but also lift the standard of accommodation for visitors keen to explore the city,” he said.&nbsp;

“This development is a great indication of the level of activity and investment the area is experiencing, as more people learn why Central Geelong is an attractive place to live, work and socialise.”

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Further tipping the scales in the move to Geelong comes with the Port of Geelong, which will soon be the sailing point for the Spirit of Tasmania, as well as the $140 million redevelopment of the Geelong Arts Centre, which is situated across the road from Geelong Quarter.&nbsp;

The Franze vision was to create a new gateway site at the south-western end of Ryrie Street, but also create a new link between the CBD, the cultural precinct and the bay.

"I suppose in life nothing comes easy and this development is a true reflection of this, we initially set out on developing a hotel, office and mixed use development, then Covid hit and we quickly realised that trying to development and spec 9000 sqm office building with no tenants was going to be a monumental task, so we &nbsp;altered our direction and subsequent permit to what you see here today, the largest mixed use development in Geelong,” Franze said.

Residents of the apartments in Geelong Quarter can expect to move in before the year’s out, while the hotel is expected to open its doors by late January.&nbsp;

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The final collection of residences in Geelong Quarter are currently selling, with only 13 remaining in Ryrie Home.

Ryr​ie Home features a collection of 109 one, two and three-bedroom apartments that benefit from a Rooftop Residents terrace with BBQ and northern bay views.&nbsp;

Residents will also benefit from room service, housekeeping, a swimming pool, business centre, flexible meeting, and function spaces, all atop the newly built hotel.&nbsp;

RPM Sales Director, Nic Cuni, said he had been fielding a flurry of enquiries post the final siren.&nbsp;

"There's been a number of calls from people who had been flirting with the idea of buying an apartment at Ryrie Home. With only 13 apartments remaining and all larger owner-occupier north facing, I'm expecting the footy hype will flow over into solid deals."

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alisonwarters@gmail.com

Geelong Quarter's Ryrie Home nears sell-out as completion approaches

Investors have been flocking to Ryrie Home, Franz&eacute; Developments&rsquo; latest mixed-use development that forms part of the new Geelong Quarter.

Located at 44 Ryrie Street, Ryrie Home sits in the heart of the regional city&rsquo;s art precinct, pitching its proximity to Melbourne and cheaper housing prices as a drawcard for investors and owner-occupiers alike.

The project was listed as Urban&#39;s most popular investor project for Q1 2021 thanks to Geelong&rsquo;s low vacancy rate of 1.7 per cent and the 10 per cent per annum growth in apartments over the last three years.

And the transport improvements in Geelong, including the $100 million fast rail and the&nbsp;$6.7 billion Westgate Tunnel which will shave 20 minutes off any commute, has investors keen on securing a property in the growing area.

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Population growth is always a key driver for increased demand in the residential market, especially in regional areas.

With Geelong&rsquo;s population growth forecast at 3.14 per cent per annum, the demand for housing tends to&nbsp;yield consistent returns.

Geelong supports over 100,000 jobs, with Greater Geelong&#39;s output of economic development pegged at over $31 billion.

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The previously industrial city on the western edge of Port Phillip Bay is changing into one driven by services, as a range of major businesses shift head offices to Geelong.

Among these include Qantas, KFC, WorkSafe, Jetstar and the NDIA federal government agency administering the National Disability Insurance Scheme.

There&#39;s further development of new buildings, including the $174 million Geelong Convention Centre on the waterfront which will have 1000 seats and an exhibition centre.

There will be a new $91 million HQ for the Geelong council with 10,000 sqm of office space. Nearly $175 of increased tourism expenditure will come from the Spirit of Tasmania, which will relocate to the Geelong Port by 2029.

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Property investors are also being drawn to the region with the Bellarine Village Shopping centre selling for $38 million, and investment giant Brookfield looking to sell their 50 per cent stake in Geelong Port, which some investors say has a $1.8 billion value.

Ryrie Home is a short walk from the train station, shopping, dining, and the foreshore, as well as educational offerings, including Deakin University, which has over 60,000 students.

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The ground floor of the development will be activated with a curated selection of retail stores for buyers&rsquo; convenience.

The new development is a contemporary residential space in a well-connected village.

Designed by Architectus, the project boasts an authoritative and restrained grid fa&ccedil;ade, pedestrian laneways, commercial retail, and F&amp;B spaces, as well as hotel and residential lobbies.

Each residence has been cleverly planned to deliver great amenity, comfort and abundant storage, including a dedicated laundry room.

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Investors have been flocking to Ryrie Home, Franzé Developments’ latest mixed-use development that forms part of the new Geelong Quarter

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Why Ryrie Home, Geelong apartments have been a hit with investors

Over half the residences in the 14-storey Ryrie Home tower, the first stage of Franz&eacute; Developments&rsquo; Geelong Quarter project, have been sold.

Presales in this stage were &ldquo;north of&rdquo; $30 million and apartments in that building sold on average for $9,000 per square metre, MaxCap&rsquo;s state director for Victoria, Johnny Woodhouse, told the AFR last month.

Non-bank lender MaxCap Group is providing the development with a $97 million first-mortgage facility for the construction of the two-tower residential and hotel complex.

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Offering a collection of one, two and three-bedroom residences, Ryrie Home is set to deliver 109 apartments in the heart of Geelong&rsquo;s arts precinct.

Designed by Architectus, the distinctive building of glass and sleek, contemporary lines exudes a bold character.

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The material choices are a nod to the strength that defines Geelong&rsquo;s character, said principal architect Oliver Mayger.

<blockquote>
&ldquo;Ryrie Home has drawn upon the history of Geelong and its architectural vernacular. The robust materiality and strong compositional order of the brick woolstore are defining markers of the city character and are considered through our podium scale and design&rdquo;, he said.
</blockquote>

The interiors have been thoughtfully designed to ensure efficient, flowing spaces, and feature open-plan living space, floor-to-ceiling windows, and an abundance of natural light.

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According to the developers, project completion is on track for late 2022 with privately-owned Maxcon Constructions leading the construction.

Construction is well underway with the tower crane up and the structure now seen coming out of the ground.

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-08-13_at_9.43.46_am.png" title="construction image" width="988" />

Ryrie Home is a connected vertical village, featuring a communal rooftop lounge with barbeque and dining facilities overlooking Corio Bay and Geelong CBD.

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Over half the residences in the 14-storey Ryrie Home tower, the first stage of Franzé Developments’ Geelong Quarter project, have been sold

Over 50% of Ryrie Home, Geelong apartments sold as structure comes out of the ground

If you&#39;re looking for an affordably priced home, without compromising on quality or style, Geelong Quarter&#39;s latest addition,&nbsp;Ryrie Home, is a truly unique find.

With exceptional design by&nbsp;Architectus&nbsp;and delivered by the innovative team at&nbsp;Franz&eacute; Developments, these apartments won&#39;t be on the market long.

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Offering a collection of one, two and three-bedroom residences, Ryrie Home puts the focus on what really matters, and joy in the simplest pleasures.

We recently spoke with Franz&eacute; Developments&rsquo; director Paul Franz&eacute; to discuss the project&rsquo;s high-quality apartments.

MK: What are the highlights of Ryrie Home and what is attracting buyers to the project?&nbsp;

PF: There&#39;s a number of features that have been attracting buyers to Ryrie Home and helping it stand out in the marketplace.

Firstly, the central location in the arts precinct of Geelong CBD has&nbsp;even very appealing, as has the Residents Rooftop and&nbsp;private dining room with views over the&nbsp;city and bay.

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The interior design of the apartments by&nbsp;Architectus, 2.85m high ceilings and the high-quality&nbsp;finishes and fixtures have also been a big drawcard.

MK: What was the design brief for Architectus?&nbsp;

PF: To create high quality, liveable apartments that will stand the test of time.&nbsp;

MK: Where have buyers come from, and who is the development appealing to?&nbsp;

PF: A lot of our buyers have come locally from Geelong. Ryrie Home is appealing to&nbsp;first home buyers and young&nbsp;professionals as well as investors, some of whom are planning to downsize into their apartment at a later date.&nbsp;

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MK: What else does the Geelong Quarter community offer residents?&nbsp;

PF: The Ryrie Home residents have access to a Residents Rooftop with BBQ&rsquo;s, generous gardens and lots of seating, and of course the Northern bay views.

There is also an internal dining room that can be booked by the residents to host larger dinners or parties. On the ground plane, there is an abundance of retail offerings which will include restaurants, cafes, wine bars and a&nbsp;Gelateria.&nbsp;

MK: Why did you choose Geelong? Does this area offer strong investment opportunities?&nbsp;

PF: Geelong is the fastest growing regional city in Australia and it&#39;s truly a city on the rise. It&rsquo;s the perfect place to invest.&nbsp;

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MK: Where is the current buyer enquiry coming from?&nbsp;

PF: The majority of our enquiry is from local buyers in Geelong and the surrounding region. We have also had a spike of enquiry lately from Melbourne residents looking for a sea change.

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Offering a collection of one, two and three-bedroom residences, Ryrie Home puts the focus on what really matters, and joy in the simplest pleasures

Everything a buyer needs to know about Ryrie Home at Geelong: Five minutes with Franzé Developments

Ryrie Home, the latest development from Franz&eacute; Developments, is set to deliver Geelong&rsquo;s first major hotel and apartment project in 20 years.

The development will deliver a landmark Holiday Inn tower, 16 luxury apartments at&nbsp;Ryrie Residences, and a separate 11-storey tower,&nbsp;Ryrie Home.

Ryrie&nbsp;Home encapsulates timeless style, giving you the perfect canvas to make your new home your own in Geelong.

We recently spoke with the&nbsp;principal architect Oliver Mayger at&nbsp;Architectus to discuss the luxury development.

MK: How many residential projects have Architectus done in Victoria?

OM: Nationally we have completed approximately 25.&nbsp;The residential sector in Victoria is relatively new, with focused growth over the past six years.&nbsp;

In Victoria, we have completed three, currently have three&nbsp;under construction, and 18 in the&nbsp;design&nbsp;stage.

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MK: What spoke to you about Ryrie Home in particular?

OM: Primarily the opportunity to propose a higher density living typology outside of the City of Melbourne, and to create a new mixed-use precinct, and public realm, which keyed into and capitalised on Geelong&rsquo;s Cultural Precinct.

MK: What was the brief from Franz&eacute; Developments for the mixed-use development?

OM: A contemporary Architectural response, providing diverse living typology&rsquo;s from one to four-bedroom apartments and a new hotel, all capitalising on the stunning views across Corio Bay and the Botanical Gardens

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MK: Where did you take your inspiration from?&nbsp;

OM: Geelong is a city with a rich heritage of prominent buildings that mark the corner of intersections and are recognisable meeting points. These buildings define the structure of the central city grid and are typically characterised with increased height, a chamfered corner to the building mass and a canopy at street level.

The repurposing of this site is another example of Geelong&rsquo;s transition from a primarily agricultural and manufacturing base to a centre for services and innovation. The site&rsquo;s vision is to embrace and support this new direction whilst celebrating what Geelong was built on.

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The material choices and fa&ccedil;ade articulation are a nod to the strength and robustness that define Geelong&rsquo;s character and its legacy of craftsmanship and quality.

Ryrie Home has drawn upon the history of Geelong and its architectural vernacular. The robust materiality and strong compositional order of the brick woolstore are defining markers of the city character and are considered through our podium scale and design. &nbsp;

Automotive production underpinned Geelong&rsquo;s economy for almost 90 years, with the first Model T rolling out of an improvised wool storage warehouse in 1925. That history has left a legacy of metal manufacturing and craftsmanship that is reflected in the upper levels of the proposal.

MK: How important is the choice of materials in a project such as this?

OM: Critical, our work is always aspiring to be contextual and of its place.&nbsp; The study of materials and textures and neighbourhood scale within the precinct and the city of Geelong informed a material palette and strategy for addressing all components of the building.

An authoritative and restrained grid is articulated on every fa&ccedil;ade in various but consistent compositional forms. This element assists in referencing the central Geelong building street wall presence.&nbsp;

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The formal motive and materiality of the street wall creates a composition that is considerate of a human experience of its scale. The hand-laid brick element also binds the different programs together and creates a notion of material consistency in the proposed building.

MK: Which part of the project are you most looking forward to seeing when completed?

OM: We have created a new public connection through our site from Ryrie Street to Cuzens Place, driving our built form response and allowing us to activate these resulting laneways and edges with commercial retail and F&amp;B spaces aswell as the hotel and residential lobbies. &nbsp;

This new lane connects visually with the existing connections through to Johnstone Park and reinforces the pedestrian connectivity through to the foreshore.&nbsp;

We are keen to see these spaces activated and hope they enable additional pedestrian connections from our site to the south through to Fenwick Place and Little Ryrie Street

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"Ryrie Home has drawn upon the history of Geelong and its architectural vernacular. The robust materiality and strong compositional order of the brick woolstore are defining markers of the city character and are considered through our podium scale and design"

The design details: Architectus discuss the design principles of Ryrie Home at Geelong

Ryrie Home is the most recent mixed-use project delivered by Victorian developer Franz&eacute; Developments.

Having officially broken ground in April, the tower is on its way to become Geelong&rsquo;s first major hotel and apartment project in 20 years.

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Geelong is the fastest growing regional city in Australia, driven by employment opportunities, education, infrastructure and its coastal lifestyle.

Urban chats with a local first home buyer, who has recently secured their first property at the luxury project, which was listed as Urban&#39;s most popular investor project for Q1 2021.

MK: What made you decide to buy off-the-plan rather than an existing dwelling?

FBH: The government grants on offer as well as the price certainty of buying off the plan. I&rsquo;ve wasted too much time researching and inspecting established properties and then being blown out of the water at auction!

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MK: Which apartment configuration did you opt for, and what led you to narrow down your decision to the apartment you have purchased?

FHB: I opted for a one-bedroom apartment with the easterly aspect! It enjoys views over the city and towards the bay aswell as the morning sun.

MK: Were you already looking for property when you discovered Ryrie Home?

FHB: Yes, I have been looking around the Geelong area for the best part of a year.

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MK: Did you have a set of criteria that your first home had to meet?

FBH: I wanted a property in a convenient location with a good clean layout and high-quality design.

MK: What do you love most about what Ryrie Home has to offer residents?

FHB: The Residents Rooftop area and the ground level retail amenity. It&rsquo;s going to be a great place to host a BBQ on a warm summers night.

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MK: What was it like negotiating with the sales agent and the team at Franz&eacute; Developments?

FBH: The sales agents were great to deal with. Very knowledgeable and helpful. It was actually a fun experience learning more about the project and selecting the perfect apartment for me!

MK: Is this your first property purchase? How did you find the due diligence research and purchase process?

FBH: Yes, it was my first purchase. The sales agents at the display suite gave us lots of information and we found the internet a great source of information too.

Lots of helpful websites to help refine our search which ultimately led to our decision to buy at Ryrie Home.

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MK: What advice would you have for other first home buyers?

FBH: Do your homework and find an agent that genuinely wants to help you make the right decision.

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First home buyers at Ryrie Home purchased an off-the-plan property after wasting too much time inspecting established homes only to be “blown out of the water at auction”


Why I purchased: Local first home buyers secure an apartment at Geelong's Ryrie Home development

Victorian developer Franz&eacute; Developments has officially broken ground at their Geelong Quarter development, set to deliver Geelong&rsquo;s first major hotel and apartment project in 20 years.

The development, which broke ground on Wednesday, will deliver a landmark Holiday Inn tower, 16 luxury apartments at Ryrie Residences, and a separate 11-storey tower, Ryrie Home.

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Designed by Architectus, Ryrie Home encapsulates timeless style, giving you the perfect canvas to make your new home your own in Geelong.

Geelong is the fastest growing regional city in Australia, driven by employment opportunities, education, infrastructure and its coastal lifestyle.

&ldquo;Life is simpler in Geelong&rdquo;, the project marketing reads. &ldquo;You can take your time, and have everything you need for the way you want to live.&rdquo;

All homes at Ryrie Home feature a private balcony where you can enjoy the panoramic bay views and alfresco dining year-round.

<a href="https://www.urban.com.au/new-apartments/ryrie-home-44-ryrie-street-geelong" target="_blank"><img alt="" height="5529" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/geelong-quarter-44-ryrie-street-geelong-39bfcf2a4e4c879d068aec6f67c34916_0.jpg" width="5026" /></a>

The project features exposed concrete ceilings and floor-to-ceiling windows, merging a minimalist aesthetic with a sense of modern luxury in the bayside location.

The median sale price for apartments in Geelong has grown significantly, on average 10 per cent per annum over three years, suggesting strong capital growth returns for investors and owner-occupiers alike.

Boasting the perfect balance of lifestyle and opportunity, the development is located within walking distance to a selection of eateries and is situated nearby the Geelong train station.

<a href="https://www.urban.com.au/new-apartments/ryrie-home-44-ryrie-street-geelong" target="_blank"><img alt="" height="4784" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/geelong-quarter-44-ryrie-street-geelong-7a2d09ff003d91982e5f40427c457856.jpg" width="8210" /></a>

Ryrie Home offers a unique opportunity to enter a developing market, with an entry price at just $375,000 for a one-bedroom, one-bathroom apartment.

The project is expected to be completed in 2022.

The Victorian developer has officially broken ground at their Geelong Quarter development on Wednesday, set to deliver Geelong’s first major hotel and apartment project in 20 years

Geelong Quarter

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