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Stage By Stage Success

Market insights
5 years ago
5 minutes

The second stage of Bundoora’s Parc Vue development has reached 80 percent sold in a matter of weeks as buyers hurry to secure a slice of ‘Botanic at Parc Vue’, a collection of architecturally designed, boutique apartments that are surrounded by lush greenery and incredible park-land and city views. 

Signifying the continued demand for quality apartment product in an area that’s traditionally dominated by established homes, Botanic at Parc Vue offers an appealing price break in a competitive local market where homes are now regularly selling for over $1m directly across from the Botanic site. 

Nestled in the heart of Bundoora, Botanic at Parc Vue offers 133 one, two and three bedroom apartments that are priced from $350,000.

The demand for Botanic comes after developer, Future Estate released and successfully sold  131 apartments in quick succession in Stage One last year, which attracted an unprecedented number of local owner occupiers who were keen to enjoy the lifestyle afforded by the location without paying upwards of $800,000 for a traditional home, in the prestige part of Bundoora.  

Recognising the continued demand from this discerning market, Future Estate set about reconfiguring the floor plates in Stage Two to offer larger apartments with an even bigger dedication to luxury interiors in order to appeal to the location’s specific buyer profile, which has since paid dividends as locals and owner occupiers have so far accounted for the majority of sales in Stage Two.  

Future Estate Founder and Managing Director, Ben Anderson said the success of Parc Vue’s second release, Botanic, was due to the project’s dedication to catering to buyer demands and adapt in an ever-changing market. 

“After bringing Stage One to the market earlier this year we soon witnessed a spike in local owner occupier buyers who were downsizing from their family home and were seeking a luxury-appointed apartment that was large enough to suit their needs. 

“This particular market seeks  the higher quality inclusions such as French oak floors, stone benchtops, brushed brass tapware, floor to ceiling windows and spacious interiors so we therefore reconfigured the apartments in Stage Two to reflect the needs of these buyers. 

“As a result we now have a bigger dedication to two bedrooms plus a study, and three bedroom dwellings with large entertainer’s kitchens with park views and balconies that allow residents to take in the stunning surroundings in their luxury apartment. 

“The outcome so far has been astounding and as a result we’ve sold over 100 apartments in just a few weeks,” he said. 

Designed by MAP Architects, Botanic’s façade has been designed to convey a sophisticated and striking façade that boasts soft curved edges and a mix of natural textures and refined surfaces to create a contemporary building that mirrors the form of the natural urban landscaped surrounds.

Sleek lines and smooth textures run through the building’s interiors which combine timeless style and functionality, while promoting maximized space that is highlighted through natural light, warm earthy tones and a soft, neutral colour palette. 

Located adjacent to the region’s largest parkland, Bundoora Park, Botanic at Parc Vue delivers a lifestyle like no other - a harmonious balance of natural and urban living. 

Future residents of Parc Vue will also enjoy the luxury of resort style facilities including a proposed wellness centre, gym, yoga studio, sauna, steam room, 25m lap pool and park frontage café with uninterrupted park views.

Ideally located just 14km from Melbourne’s CBD, Botanic resides in one of the most well-connected areas within proximity to several retail facilities, a new town centre which is located directly over the road, University Hill and Northland Shopping Centre, as well as being positioned within easy walking distance of RMIT University and Latrobe University. 

“Our guarantee is to deliver beautiful homes  that integrate with the already established area while making a positive contribution to the environment, and that’s exactly what Botanic offers. 

“It’s great to see that our unique approach and commitment to catering to buyers demands has paid off, with the sales success proving the market is in desperate need for premium, large apartments in well-connected areas offering a strong point of difference and unrivalled lifestyle,’ Ben said. 

With a diverse selection of homes to suite an array of purchasers, Botanic at Parc Vue offers large, spacious dwellings available in a number of floor plan configurations.

With Stage Two now over 80 percent sold, the project’s third and final stage is slated to launch to the market sometime in early 2016.