PACE celebrate settlement of 181 Fitzroy

Market Insights
7 years ago
2 minutes
Not content with ending the year by championing the move to online property settlement, PACE Development Group have capped it off by settling their flagship 181 Fitzroy Street development.
Their 26th major residential development in the popular Bayside area, 181 Fitzroy stands an impressive ten storeys high and features 151 spacious one, two and three bedroom apartments.
PACE Development Group’s Managing Director, Shane Wilkinson said, “The settlement of 181 Fitzroy, which was sold primarily to the local market (83.5%), marks the end of PACE’s most successful year to date. Despite murmurings of a downturn in the market, 2016 has been incredibly successful year for PACE with 86 at Archer settled in May, 48 settled at George Windsor in October, 86 at Brunswick sold-out in 7 months, Northcote 75% sold in 4 months, Doncaster East selling well and now the completion of 151 luxury apartments at 181 Fitzroy Street, St Kilda.”


Wilkinson sees this as proof that there is strong demand for a residential offering that is of high quality and appropriately priced. And as an integrated builder/developer with their own construction capability, they are perhaps in the best position to both plan and develop the highest quality of homes to meet this need.
The settlement of 181 Fitzroy is also a testament to the productive partnerships PACE embark upon for their projects, in this case, award-winning SJB Architects. This has resulted in considered design benefits to the building, such as the use of solar panels to generate around 50% of the power required for common lighting usage.
In addition, interior designer, Sue Carr has guided every aspect of the building’s interior resulting in an impressive collection of sophisticated homes in a building many will see as reflective of fine European hotel interiors. 


An incredible 95% of the apartments were valued at or above purchase price following PACE’s smooth settlement and valuation process.
As one of Australia’s leading residential property developers, the settlement of 181 Fitzroy indicates PACE will be leading a strong start to the off the plan apartment market in 2017.
Find more information on the PACE Development group here.