Toorak

Avant Garde on Tintern Avenue, a luxurious residential project in the heart of Toorak, is rapidly taking shape as construction enters full swing.

Developed by Bravo Properties, Advant Garde boasts a prime location, with the exclusive collection of homes attracting discerning buyers looking for the epitome of contemporary living.

Situated amidst a backdrop of historic and significant homes, Avant Garde seamlessly blends the past with the future. Its enviable location in a prestigious cul-de-sac offers a serene and exclusive environment, while its proximity to the vibrant Toorak Village ensures residents have access to a myriad of amenities, including boutique shopping, fine dining, and cultural attractions.

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Designed by architects Bruce Henderson and landscaped by Jack Merlo, Avant Garde showcases a seamless blend of architectural design, innovative lighting, and interior design, with the materials used in construction sourced from around the world.

Only three of the seven apartments remain available.

Each residence offers secure access, basement car parking, and a range of amenities, including an equipped gym and a private lounge.

Designer Italian kitchens and wardrobes from the esteemed House of Molteni take centre stage, coupled with Gaggenau appliances and Slavonian Oak Timber Flooring, reminiscent of European palaces. Each apartment also features a fireplace, in addition to full-height American Oak doors.&nbsp;

CoBuild has been tasked with handling the construction of the development.

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alisonwarters@gmail.com

Only three apartments remain at Toorak's Avant Garde

The Lendlease apartment community, Toorak Park, arguably holds one of the best locations in the affluent suburb.

The completed mini masterplan gets its name from the neighbouring Toorak Park on Orrong Road, which has stood proudly at the heart of the area since it was opened in 1893.

It is most well known as the home of the Prahran Football Club, who played in the now defunct VFA. More recently the&nbsp;Old Xaverians and Prahran Assumption, who play in the VAFA, call it home, as do the Prahran Cricket Club, who play in the Victorian Premier Cricket competition.

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The sports ground is getting a full overhaul by the local council, which is well underway. The current pavilion is being demolished, and will be replaced with a new Jackson Architects-designed pavilion with new lighting and terraced seating.

While under construction, with a forecasted end date toward the end of 2024, Toorak Park residents are only another 100 metres down the road from Orrong Romanis Reserve, home of Melbourne Rugby Union Football Club.

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Orrong Romanis Reserve&nbsp;has two rugby and cricket ovals and a tennis centre, as well as an off-leash dog space, a playground, and barbecue facilities.

While surrounded by park opportunities, Toorak Park appeals to the city worker, given the location of Toorak train station just the other side of the oval.&nbsp;

Surrounding the train station, spilling onto Malvern Road, is a number of cafes and restaurants, as well as tram and bus stops.

A rare opportunity to buy near-new in Lendlease's completed Toorak Park has come up, after an international fund manager secured a number of one, two, three and four-bedrooms directly from Lendlease when the building was complete.

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Now they're divesting the portfolio, which is giving apartment seekers an opportunity to buy a near-new unit in Toorak from $520,000.

The 2.5 hectare project was designed in collaboration between&nbsp;<a href="https://www.urban.com.au/architects/denton-corker-marshall" target="">Denton Corker Marshall</a>&nbsp;and&nbsp;<a href="https://www.urban.com.au/architects/carr-design" target="">Carr Design Group</a>.

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&nbsp;bluestoned plaza with a convenience store and cafe, as well as communal gardens.

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The completed mini masterplan gets its name from the neighbouring Toorak Park on Orrong Road, which has stood proudly at the heart of the area since it was opened in 1893

Joel Robinson

Toorak Park: The inviting park side lifestyle in Melbourne's most affluent suburb

Property developer Orchard Piper has progressed its plans to develop a $120m mixed-use development in Melbourne’s most affluent streetscape, Toorak Village.

They've received planning permission for the consolidated land holdings at 109 Mathoura Road and 420-426 Toorak Road, which is set to offer just nine apartments and three levels of office space. Orchard Piper will relocate their HQ to the top floor.

Orchard Piper, led by Luke McKie and Rick Gronow, are expected to commence construction in a few months. The project received its permit with unanimous support from the City of Stonnington and no further appeals lodged by the community.

“We are very encouraged by Council’s positive response to the project and their interest in supporting high-quality architecture in the municipality," McKie says.

"This approval will transform a key corner of the Village and make a significant contribution to the streetscape, further driving the Villages’ ongoing resurgence,” says Orchard Piper Director.

The green light for the Toorak Village project marks Orchard Piper’s evolution toward more significant, mixed-use development, appointing internationally renowned Kerry Hill Architects (KHA), who are most known for their award-winning luxury hotel and resort portfolio which includes several Aman Resorts destinations in New Delhi, Tokyo, Kyoto and Shanghai. It will be KHA's first project in Victoria.

“Together with KHA, we are highly conscious of the impact the built form has on community and its enjoyment of streetscapes and surrounds," Mckie added.

"We take pride in our work and hope this quality addition to Toorak will be an asset for generations to enjoy."

Adding to Orchard Piper’s $1.1 billion portfolio, with $200 million of completed projects in the Stonnington locale alone, approved plans for the corner site will see a six-storey residential building complemented by high-end ground-floor retail and commercial offerings.

<img alt="Orchard Piper Toorak Village" data-entity-type="file" data-entity-uuid="47652e17-724f-406e-b36a-9ab5f6c73af4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-04-13%20at%208.20.38%20am.png?VersionId=P9wTi9cyta6BVjbJPkHEpJOB2nUxcgBs" /> 
Fronting 109 Mathoura Road, the residential building will offer just nine apartments, each with three bedrooms and a minimum of three side-by-side car spaces. There will be just two apartments per floor.

Separately at 420 Toorak Road will be three floors of premium offices, with a covered retail colonnade activating the street level allowing premium-grade strata office stock to be purchased within the Village for the first time in over two decades.

Already Orchard Piper has sold the whole floor, 400 sqm penthouse, for $12.5 million, to a Melbourne business identity.

“We have received keen interest from our established network in preparation for this project – so much so, that we have been working with the purchaser of the penthouse for a few years now," Orchard Piper Director Rick Gronow says.

"They realise how rare of an offering this project is, and wanted to make sure they secured one of Melbourne’s finest penthouses ahead of the market, based on their previous knowledge of the quality that Orchard Piper delivers.”

Marshall White's Marcus Chiminello, as well as Kay &amp; Burton's Andrew Sahhar, to conjunctionally sell the remaining apartments.

“We’re seeing the high-end prestige market continually performing in a strong manner which defies the general negative commentary created by increasing rate hikes," Chiminello says.

Inventory levels for quality properties are not keeping up with the pent-up demand for downsizers looking for bespoke, lock-up-and-leave apartments in and around Toorak Village,” says Chiminello.

“Stonnington Council is actively investing in the streetscape’s upgrade, and with younger generations coming through there is a lot of interest in securing a piece of the new Village.”

Orchard Piper’s Toorak Village project is one of its four current projects, part of its $800m pipeline scheduled for annual completion over the next five years.

Currently in its design phase, the developer’s subsequent offering for Toorak Village will see a continuation of the developer’s partnership with KHA for a $400m mixed-use development at the <a href="https://www.urban.com.au/news/vic/former-site-of-mercedes-benz-toorak-set-for-400-million-transformation">well-known Mercedes Benz Toorak site</a> located at 7-11A &amp; 17-19 Carters Avenue.

The Toorak Village project is set to officially launch to market in the coming months.

<a href="https://www.urban.com.au/news/vic/former-site-of-mercedes-benz-toorak-set-for-400-million-transformation">Read more:&nbsp;Former site of Mercedes-Benz Toorak set for $400 million transformation</a>

<a href="https://www.urban.com.au/news/vic/orchard-piper-and-carter-group-set-for-300-million-st-kilda-rd-hotel-and-apartments">Orchard Piper and Carter Group set for $300 million St Kilda Rd hotel and apartments</a> 
&nbsp;

Orchard Piper secure planning permit for Toorak Village development as penthouse sells for $12.5 million

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.

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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&nbsp;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&nbsp;bluestoned plaza with a convenience store and cafe, as well as communal gardens.

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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.

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"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.

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A mix of one, two, three and four-bed apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by Lendlease

Toorak Park: A rare opportunity to buy in Toorak's best residential village

Orchard Piper have teamed up with Corsair Investment Management in a deal that will see a luxury $400 million mixed-use precinct developed at 7-11A and 17-19 Carters Avenue, progressing the developer’s plans to add $550 million worth of residential, commercial and retail development in Melbourne’s sought-after, Toorak.

The joint venture comes after the 3,600 sqm well-known Mercedes Benz site was acquired by the developer in May for $67 million.&nbsp;

In a bid to regenerate Toorak Village as a thriving high street, Orchard Piper Director, Luke McKie said the partnership is only bolstered by the Buxton family’s six generations of property history.&nbsp;

“Corsair align and support our design-led approach to architectural development. They bring a rare level of expertise and knowledge together with 100-plus years of multi-generational experience represented by the Melbourne based, Buxton family name,” McKie said.

<img alt="aerial shot of the site" data-entity-type="file" data-entity-uuid="393d700c-a526-476c-a4ed-36a967eb0fe9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/7_11_Carters_Ave_Wide_23.jpeg?VersionId=RZfMnvX8yIJE8OQWufUjiGlDly3DaAwL" />Aerial image of the Toorak site. Image supplied.&nbsp;

Orchard Piper are due to commence discussions with Stonnington Council in the first half of 2023 to inform the design submission, as the development marks just one of four projects penned for the area, forming part of its $800 million pipeline scheduled for annual completion over the next five years, adding to their already $1.1-plus billion portfolio.

With $200 million worth of projects previously completed in Stonnington alone, the development will see a high-end, architecturally significant, residential development delivered, complemented by hospitality, retail and strata commercial, suited to local owner-occupiers.&nbsp;

A distinctive offering for the suburb, the project will also include full concierge services and amenities for residents, including a pool and a gym.

“We have again appointed highly regarded and world renowned, Kerry Hill Architects to design the precinct, which will arguably become the most high-end building for Melbourne’s most affluent suburb,’ said McKie.

“Landholdings of this scale and proximity to the Village are incredibly rare. We will take our time 
designing this project to ensure we achieve an architectural response befitting of the significance of this opportunity.”

Orchard Piper have been progressively building a significant stake in Toorak Village’s revitalisation with the culmination of ten individual titles acquired since 2019, bringing the developer’s land holdings in the Village in excess of 5,000 sqm.&nbsp;

Well-positioned to brace market uncertainties, the joint venture brings a unified position to the market, and to future plans for the Village, further complemented by Orchard Piper’s own $150 million luxury mixed-use project located at the corner of Toorak and Mathoura Road, as well as Vicland’s $600 million office and retail tower due for completion in early 2023.

Corsair Executive Chairman, Michael Fowler said the group is underpinned by family values, with a proven track record within the niche area of high-end development.&nbsp;

“We have an in-depth understanding of the landscape, nuances, pressures and opportunities of the current market,” Fowler said.&nbsp;

“With Orchard Piper’s unrivalled reputation and brand not only within Stonnington but across Melbourne, our joint venture will offer a unique opportunity for luxury living that is bound to re- energise the Village’s status and identity as one of the most lucrative streetscapes in Australia.”

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Orchard Piper have been progressively building a significant stake in Toorak Village’s revitalisation with the culmination of ten individual titles acquired since 2019, bringing the developer’s land holdings in the Village in excess of 5,000 sqm. 

Former site of Mercedes-Benz Toorak set for $400 million transformation 

With the building industry hit hard by the recent material price rises, along with twin evils of short supply and inflation, the result is many developers are either falling short and not able to deliver a product, or many are opting for lower quality construction options.&nbsp;

One of a handful of bespoke projects to be constructed on time during the hardships is 63 Heyington Place, Toorak Melbourne.&nbsp;

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&nbsp; 
Developed by Melbourne-based, Sterling Global, Heyington is clad in Portuguese limestone, demonstrating an effort for high quality construction.&nbsp; 
&nbsp; 
Visioneer Builders overcame challenges with the use of the limestone panelling, as each small area required multiple stonemasons to ensure the joints and architectural elements were immaculately aligned and pieced together.&nbsp;

Sterling Global Development Director, David Morgan, said Heyington would be difficult to deliver in today’s market with today’s construction and supply costs.&nbsp; 
&nbsp; 
“Sadly, I think lavish stone facades and premium building materials will become all the more rare and exclusive as many developers and builders struggle to deliver high-quality projects with the current cost and supply chain challenges,” he said.

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With its exterior structure designed predominantly using the Portuguese limestone cladding render, along with detailed timber soffits, the building looks to serve as a timeless long-term building in one of Melbourne’s oldest and most established suburbs.&nbsp;

In collaboration with Acre Landscape Architects, the 12 apartments have been envisioned as an urban oasis, set to create its own identity amongst the history of Toorak.&nbsp;

Proving further evidence toward the considered design, Heyington was recently announced as a finalist in the Interior Design Excelled Awards under the multi-residential category.&nbsp;

The IDEA is Australia’s most accomplished independent design awards program and judges across fifteen categories and six awards with the finalists set to be announced in November at the IDEA Gala.

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Construction has completed on the Toorak project, with a limited number of residences remaining.&nbsp;

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With its exterior structure designed predominantly using the Portuguese limestone cladding render, along with detailed timber soffits, the building looks to serve as a timeless long-term building in one of Melbourne’s oldest and most established suburbs. 



Sterling Global deliver limestone-clad apartments to Toorak

The luxury apartment developer, Orchard Piper, has paid $67 million for the Mercedes Benz dealership in Toorak, with a view to create a new mixed-use precinct.

The sprawling 3,600 sqm&nbsp;site at 7-11A and&nbsp;17-19 Carters Avenue, in the heart of Toorak&#39;s retail and commercial precinct, will see&nbsp;$150 million worth of luxury apartments developed, as well as offices and shops, to revamp the village as a vibrant and modern-day high street.

It&#39;s been a three years process for Orchard Piper to secure&nbsp;the 10 individual titles. In addition to the recent purchase, Orchard Piper spent $28&nbsp;million on a 1,400 sqm holding on the corner of Toorak and Mathoura Road, taking their spending in the affluent Melbourne suburb to just under $100 million. The end value across the two projects is expected to be $550 million.

Primed as the last remaining site in Toorak Village, earmarked as a Key Development Site under the Stonnington Council&rsquo;s planning scheme, Orchard Piper is set to submit plans for the site&rsquo;s reformation as a $400 million mixed-use precinct featuring a &lsquo;super-premium&rsquo; residential offering with class leading lifestyle amenities, complemented by high-end retail and commercial suites for boutique family office style owner-occupiers.

Orchard Piper, led by Luke McKie and Rick Gronow, secured the sites from the Hagen family, who had pieced the landholding together since 1932.

&ldquo;Having a close and trusting relationship with the Hagen family allowed us to shape this deal to suit the vendors, they were interested in a high quality outcome for the site, given their longstanding ownership and history,&rdquo; Gronow says.

&ldquo;We have great respect and admiration for the long-standing partnership John Worrell and Karl Hagen shared. The Worrell family began piecing this land together in 1932, following World War I, which eventuated in this un-repeatable parcel on the doorstep of Toorak Village.&quot;

This latest acquisition made by Orchard Piper takes the developer&rsquo;s pipeline to more than $1.1 billion of addresses in Melbourne&rsquo;s most blue-chip locations.

Regarded as Melbourne&rsquo;s leading luxury developer in the residential sector, Orchard Piper&rsquo;s recent Stonnington project Huntingtower Road was last month awarded the National Winner of the Master Builders Associated for best Medium Density building over five dwellings.

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Designs for the revamping of the Mercedes Benz location are set to be unveiled in 2023, with construction to commence the following year in-line with Mercedes&rsquo; lease ending. Construction on the Mathoura and Toorak Road corner site is on track to commence early next year.

McKie says the architectural response to the 3,600 sqm site should reflect the significance of its location.

&quot;We&rsquo;ve been actively involved in the area for over thirteen years, having developed six previous projects within minutes of this site,&rdquo; McKie says.

&ldquo;It is now widely acknowledged that Toorak Village is coming into a new era. This combined with our two new sites and Stonnington Council&rsquo;s recent street art and furniture investment will ensure the Village lifts to new heights.&quot;

Orchard Piper, led by Luke McKie and Rick Gronow, secured the sites from the Hagen family, who had pieced the landholding together since 1932

Orchard Piper secure Toorak's Mercedes Benz dealership, plot mixed-use precinct

Long favoured by Melbourne&#39;s elite, the suburb of Toorak is highly-regard as one of the most sought-after postcodes in the state.

With mansion lined streets and leafy green spaces, the area seeps heritage and history at every corner, home to the longstanding&nbsp;Toorak House, which was built just before the discovery of gold in Victoria and considered to be possibly the oldest&nbsp;surviving mansion in the state.&nbsp;

Stepping into the modern era, the area&#39;s central hub, Toorak Village, boasts an array of eclectic restaurants and cafes, and boutique retailers, with the South Yarra neighbour home to all that is desired and required.&nbsp;

Often referred to as the &#39;Beverly Hills of Melbourne&#39;&nbsp;due to its mansions and affluent residents, those looking to step out can easily access Melbourne&#39;s CBD, which sits just five-kilometres away, although there often isn&#39;t any need to venture too far.&nbsp;

A&nbsp;number of Melbourne&rsquo;s most prestigious schools can also be found within Toorak&rsquo;s boundaries, like&nbsp;St Catherine&rsquo;s School&nbsp;and St Kevin&rsquo;s College.

One of the most striking developments on the market, recently launched by the Sydney-based SPG Group, is Euroka.

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Euroka keeps in style with Toorak, drawing inspiration from&nbsp;Melbourne&rsquo;s iconic Roy Grounds House, which was&nbsp;once home to one of Victoria&rsquo;s most influential modern architects.

There&#39;s just 10 luxury apartments on offer, created by the renowned Carr Design team.

Carr&#39;s Managing Director Chris McCue says&nbsp;Euroka&rsquo;s brutalist form is expressed in precast and off-form concrete.

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&ldquo;The heavy-weight nature of the concrete structure appears to float above the ground-floor apartments,&quot; McCue says.

Upon entry, residents are welcomed to a body of water, leading to a light-filled atrium entry that incorporates landscape design in conjunction with Acre Studio.

&ldquo;Our design philosophy prioritises interior spaces that open out to external views,&quot; McCue added.

&quot;This has been consistently applied throughout the project&rsquo;s planning strategies, with the axes aligned across each of the unit types to each of the 10 apartments.

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&ldquo;Overhead voids cut into expansive first-floor terraces greater connect plan types to view and light with broad open plan spaces across the northern and southern facades.&quot;

With a&nbsp;robust form, and&nbsp;a gallery-like, three-tiered elevation, each apartment has been designed with a unique aspect across the three levels.

Residents also benefit from easy access to a number of Toorak&#39;s best amenity, including&nbsp;the Main Yarra Trail which winds its way along the iconic Yarra River.

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Stepping into the modern era, the area's central hub, Toorak Village, boasts an array of eclectic restaurants and cafes, and boutique retailers.

Why Toorak is one of Melbourne's most sought-after suburbs

The Sydney-based developer, Sun Property Group, are breaking in to the Melbourne apartment market, and they&#39;re starting in one of the Victorian capital&#39;s most blue chip suburbs.

SPG has just launched Euroka, a boutique collection of apartments in the heart of Toorak.

Euroka, at 5 Brookville Road, is inspired by Melbourne&rsquo;s iconic Roy Grounds House &ndash; once home to one of Victoria&rsquo;s most influential modern architects.

The renowned architect and design firm, Carr Design, has created the 10 luxury apartments, which includes two ultra-luxury penthouses. Euroka will feature&nbsp;a distinctive geometric fa&ccedil;ade, taking cues from the rich texture of local neo-brutalist architecture. &nbsp;&nbsp;

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The theme of&nbsp;Euroka&nbsp;is &lsquo;welcome to the light&rsquo;, with the developer given permission from the Aboriginal Council, Wurundjeri Woi Wurrung Cultural Heritage Aboriginal Corporation, to use the name.

Sun Property General Manager, Cameron Johnson, said there&#39;s a big difference in what can be developed in Sydney and Melbourne.

&quot;In Sydney&#39;s it all about trying to create apartments that will get glimpses of the harbour, or views of the city,&quot; Johnson says.&nbsp;

&quot;In Melbourne, those opportunities aren&#39;t quite there, the topography is very different, Melbourne is very flat.

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&quot;So you have to find different opportunities, in design, craftsmanship, size, quality etc. You need to be able to underpin the same level of distinguishment than what you can achieve in Sydney simply by having higher apartments with views.&quot;

The sleek low-rise apartments &ndash; set over three levels &ndash; feature linear shapes, beautiful glazing and what appears to be almost &lsquo;floating&rsquo; concrete, softened by landscaping.

The site, located at 3-5 Brookville Road is set back from the road and will be nestled behind landscaped gardens. Deep sculptural planters will provide privacy to residents, while its dramatic entry will include a 16m reflection pond.

Natural light has been a strong theme in how&nbsp;the apartments have been arranged. Each apartment has been created to be like its own private gallery, with oversized floorplans extending outdoors to large terraces or private courtyards.

The apartments at Euroka&nbsp;are generously sized, with a three-bedroom floorplan measuring around 160sqm. The project will have two penthouses, each with an expansive floor plan measuring 260 sqm.

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Construction on&nbsp;Euroka&nbsp;is due to commence in February, with a completion expected by June 2023. &nbsp;

Sun Property has been developing primarily in Sydney&#39;s affluent Lower North Shore area, with projects in Neutral Bay, Mosman&nbsp;and Willoughby recently.

&ldquo;It is the right time for us to expand what we offer to our customers into a different city &ndash; there are great schools, excellent services and wonderful surroundings in Melbourne&rsquo;s south-eastern suburbs,&rdquo; he said.

&ldquo;What influences our design is the customer &ndash; we really drive towards trying to understand what it is they are looking for and how they want to exist in their home.

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&ldquo;We present a design and an idea of what it can be &ndash; but what we are willing to do is to take that extra step and work with the customer very collaboratively to deliver a home that meets what they want and need.&rdquo;

Sun also has another site in Toorak, closer to Hawksburn Village at&nbsp;226-228 williams road Toorak. The 16 apartments, a mix of two and three-beds, will be more atune to trying to find a younger customer, as well as some downsizers, Johnson says.

They are looking to further pad out their Melbourne pipeline in the next six months.

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Euroka, at 5 Brookville Road, is inspired by Melbourne’s iconic Roy Grounds House – once home to one of Victoria’s most influential modern architects

Sun Property Group make first move in to Melbourne with luxury Toorak apartment development, Euroka

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The luxury apartment sector has been the final piece to fall back in to place following the COVID-19 pandemic effect on real estate.

That's the view of Kay &amp; Burton director of special projects Damon Krongold, who said the whole luxury apartment sector shut down.

"Everything went on hold", Krongold said, particularly the downsizer demographic.

"That demographic froze in situ and it has been the last area of the property market to come back," Krongold added.

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However the market is now back, with the increased momentum for transactions in existing homes starting to filter through to the luxury apartment sector once more.

Krongold says there's been a genuine spike in recent weeks for products such as Heyington, the luxury Sterling Capital developed boutique apartment project in the heart of Toorak.

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Heyington, designed by Carr Architecture in collaboration with landscape architecture firm Acre, has just 12 apartments, each having three bedrooms. Over 50 per cent of apartments have now sold in the block.

Krongold advises it's been the natural trend of those selling, with locals and the immediate surrounding areas the most keen on the project.

"They're selling out their larger homes which have high maintenance and gardens and are wanting a turn-key solution and lifestyle," Krongold says.

He suggests the pull of Heyington's location has been a drawcard, with that demographic keen on being closer to amenities such as Toorak village and near the Monash freeway to get out of town to go beachside and head down to the Peninsula.

Heyington apartments, featuring genuine stone, start from $3,295,000.

The two ground floor apartments feature large outdoor planted gardens, spanning 115 sqm and 189 sqm, larger than most gardens in metropolitan Melbourne houses.

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Apartment 103 features over 240 sqm of outdoor terraces, both hard-paved and landscaped, with its own swimming pool. That's priced at $4,851,000.

Construction is slated for completion around four to six weeks sooner than expected despite the COVID-19 interruptions, with residents expected to move in in late 2021.
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"Everything went on hold", Krongold said, particularly the downsizer demographic.

Toorak

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