Property sales two years ahead of Frasers Property’s forecast
Just six of 267 apartments remain available for sale
Two of four apartment buildings sold out
First apartment residents expected to move in by the end of 2020
MELBOURNE, 8 AUGUST 2019
Construction is set to start this month on the first apartment buildings at Frasers Property Australia’s landmark Burwood Brickworks community in Melbourne’s east.
Appointed builder Hacer Group will kick off the major milestone less than a year after the October 2018 public sales launch of the new community. Property sales at Burwood Brickworks are going so well that the project is currently two years ahead of forecasted sales targets.
The $500+ million Burwood Brickworks mixed-use community includes plans for approximately 700 homes ranging from freestanding houses, semi-detached terrace housing and apartments; 2.5 hectares of open space and parklands, community facilities and two large public spaces connected to an urban plaza adjoining a shopping centre complete with a rooftop urban farm.
To date, apartments at Burwood Brickworks have proven extremely popular with buyers, with two of the first four apartment buildings already sold out and just six of the 267 apartments remaining.
Of these six, one is a one-bedroom apartment priced at $423,000 and five are two-bedroom, two-bathroom apartments priced from $622,000.
As the four apartment buildings share basement parking, work will start on all buildings at the same time. The West Garden Apartments and South Garden Apartments are expected to be completed first, followed by East Garden Apartments and finally the Plaza Garden Apartment building.
Sarah Bloom, General Manager – Residential Victoria, Frasers Property Australia says Burwood Brickworks, located just 19 kilometres from Melbourne’s CBD, has struck a chord with buyers.
“Burwood Brickworks really highlights that a quality offering in the right location will sell well in any market,” Ms Bloom says.
“There is no doubt that location has been a big drawcard for investors, who represent approximately 55 per cent of apartment buyers, but the project has also been extremely popular with owner occupiers, who represent the remaining 45 per cent of apartment sales.”
Ms Bloom says the first apartment residents are expected to move in by late 2020.
Bill Papas and his wife Elizabeth are apartment investors who say location and the planned amenities drew them to the project.
“We couldn’t believe it finally came on the market. We thought it would be a great idea to invest there,” Mr Papas says.
The Papas family live just up the road from the project, in Blackburn South, and love the location. The couple purchased a two-bedroom apartment as an investment and for their 21-year-old son to later move into.
“It’s just a 10-minute walk or two-minute drive away from us. It’s central to everything and is a wonderful area as well,” Mr Papas says.
He says the shopping centre was also a big drawcard for the family.
“We are very excited about the shopping centre, that’s another bonus. Having the shopping centre there as well as the cafés, parks and the proximity to Gardiners Creek and Blackburn Lake – all that contributed to us making our decision.”
For first-time investors David and Kylie Brennan, it was location coupled with the sustainability ambitions for the Burwood Brickworks community that proved most appealing.
Frasers Property is aiming for the shopping centre at Burwood Brickworks to be the first retail development in the world to achieve Living Building Challenge™ certification.
This means it will generate more energy than it consumes on an annual basis, retain and recycle all of the water it uses and dedicate 20 per cent of its site footprint for growing food via initiatives such as a rooftop urban farm, among other measures.
Mr Brennan, a refrigeration project manager for Woolworths, says his involvement in setting up the new Woolworths and Dan Murphy’s store at Burwood Brickworks drew his attention to the project.
“I have a passion for the environment and I’ve been heavily involved in the refrigeration for Dan Murphy’s and Woolworths so I know a lot about the project,” Mr Brennan says.
“We’ve always loved the Burwood area and I grew up down the road in Vermont South. We have always had the intention to purchase something in Burwood.”
The couple currently live in Ferntree Gully and have bought a one-bedroom, ground floor apartment at Burwood Brickworks. Mr Brennan says it will be exciting to watch his investment take shape while he works on the retail centre in the community.
Frasers Property has started design work for the next apartment precinct at Burwood Brickworks, which it expects to release to buyers by mid 2020.
Buyers interested in the last remaining apartments currently available for sale can visit the sales office, located at 78 Middleborough Rd, Burwood East, open from 12pm until 5pm daily, phone 13 38 38 or visit burwoodbrickworks.com.au.