Swanston Central hits 95% pre-sales as construction commences

Buyers flock to be part of one of 2016’s largest residential towers

One of the largest residential towers to be constructed in Australia this year has achieved 95% pre-sales, with buyers flocking to secure space at Swanston Central.

Early interest in Hengyi’s premium, city fringe project has been so significant that Swanston Central has almost sold out prior to the start of construction this month.

The project, which is being constructed by Multiplex in its second project with Hengyi, will be one of the largest towers to be constructed in Australia in 2016.

“This has been a hugely successful project, after being acquired by Hengyi in March 2015 for $64.8million from CEL,” Tim Storey, of exclusive marketing agents Colliers International, said. “This will be an iconic, high quality residential tower in an outstanding location, and it has attracted strong interest from the outset.

“It is been a great result to achieve 95% pre-sales and we have been very pleased to see a lot of interest from the younger local population. This is part of a significant demographic trend we have seen over the last few years, this buyer type represents a big proportion of the 120,000 people coming into Victoria each year.

“We are witnessing strong underlying demand for projects in the CBD which are strategically located, well designed and well-priced. The overwhelming response to Swanston Central is a prime example."

Colliers International Residential Project Marketing Swanston Central Hengyi Multiplex apartment sales real estate Melbourne CBD

Swanston Central represents Hengyi’s third major project in Melbourne, on the back of The William and Light House, heralding the developer as a major player in the local residential market.

“It goes without saying that Hengyi is excited to commence construction on its third major project in Melbourne,” Dean Fossey, Director of Property Development at Hengyi, said. “The success of Swanston Central is a credit to our passionate and hardworking project partners across the board.

“We value highly everyone that has made a contribution to the project and thank them for the part they have played in the Swanston Central story to date and also into the future.

“Melbourne continues to be voted the World’s Most Liveable City and Hengyi remains committed to delivering high quality and iconic residential developments to enhance its skyline."

Graham Cottam, Regional Managing Director for Multiplex, said Swanston Central marked the second project for Multiplex in collaboration with Hengyi, with the contractor currently constructing Light House, a 69-level residential tower in the Melbourne CBD.

“We are delighted to be appointed to deliver this new residential tower for Hengyi,” Mr Cottam said. “Light House is set to change Melbourne's skyline and this next project will be no different, with Swanston Central set to be the tallest residential building on the CBD fringe."

Swanston Central is located at 168 Victoria Street, on the corner of Victoria and Bouverie Streets in Carlton.

The 70-level, Elenberg Fraser-designed tower will feature a multi-colored facade that will change color at different times of day. The tower will be made up of 1,039 one, two and three bedroom apartments, with 216 car parks, parking spaces for 350 bicycles and ground floor and 2,700sqm of mezzanine retail space – including premium retail and food and beverage fronting Bouverie Street.

Premium residential facilities will include a lap pool, hot and cold spas, plunge pool, individual sauna and steam rooms, cabanas, a winter-garden, library boardroom, cinemas, games rooms, grand dining room, grand lounge bar and sky bar and lounge.

Mr Storey said Swanston Central would offer a prime location at the northern edge of Melbourne’s CBD, close to entertainment, transport, retail and education.

“Carlton is one of the most dynamic and diverse suburbs in Melbourne, where entertainment, cultural and leisure activities can be found side-by-side with educational, business, retail and residential facilities,” he said.

“Swanston Central residents will be close to renowned education institutions such as RMIT University and Melbourne University as well as some of Melbourne’s best shopping destinations, including Melbourne Central, QV, Bourke Street Mall and Emporium.

“Opposite Melbourne’s free tram zone and part of the vibrant inner CBD, occupants will be a stone’s throw from the theatre district, leading hotels, numerous hidden laneways, bars and eateries, the Paris-end of Collins Street and Chinatown."

Carlton Exhibition Gardens, Flagstaff Gardens and Queen Victoria Market were also nearby.

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Colliers International Residential Project Marketing Swanston Central Hengyi Multiplex apartment sales real estate Melbourne CBD

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