Artis will make you want to buy a second home in Melbourne
Written by Felicia Soon
An artist's impression of Artis Melbourne, Crown Group Australia's latest project to be launched in November. (Photo by Crown Group)
MELBOURNE (Oct 21): Australia-based property developer Crown Group is planning to open its first Melbourne residential development, Artis for sales this coming November 2020.
Artis is a joint venture project between Crown Group and Melbourne based developer G3 Project.
Situated on 175 Sturt Street in Southbank, Melbourne, on a corner site of 2,070 sqm (0.51 acres), this freehold twin tower development will feature 153 units of one, two and three-bedroom apartments and penthouses. The selling price will start from A$480,000 (RM1.4 million).
Crown Group Chairman and Chief Executive Officer Iwan Sunito said Artis, in prestigious Southbank, was part of Crown Group’s plan to create a $3 billion (RM8.8 billion) development pipeline in Melbourne.
“We are confident to launch in the current market because we are supported by key market fundamentals – it is in a prime, highly sought-after location outside of the Melbourne Central Business District; there is strong demand for a boutique development with unique design; and there is restricted supply of such a product,” said Crown Group chairman and CEO Iwan Sunito during a virtual global media project recently.
He added that there has also been a lot of anticipation about Crown Group coming to Melbourne for the first time because there are very few developers launching in Melbourne in 2021 and therefore limited stock available to meet the pent-up demand.
In addition, Mr Sunito shared that properties in Melbourne is more affordable than Sydney’s. “There is about a 20% to 30% price difference for people who want to invest in a two-bedroom unit. In Sydney it would be A$1.5 million (RM4.4 million) but in Melbourne it could be less than A$1 million (RM2.9 million),” he said.
Mr Sunito said having only 153 apartments, uninterrupted city views and a design by internationally renowned Koichi Takada Architects meant it was a truly limited offering. (Photo by Crown Group)
Rejuvenation of Southbank
Colliers Director, International Residential Melbourne, Robert Papaleo, said Artis would border the St Kilda Road precinct, offering prime living on the city fringe with easy access to the Royal Botanic Gardens and some of Melbourne’s most prestigious schools.
“The rejuvenation of Southbank is continuing, with transformation of its riverside precinct and creation of new public spaces to match the appeal of the renowned St Kilda Road boulevard,” Mr Papaleo said.
He added that this location is only set to improve with the opening of the new Anzac Metro Station in 2025, 600m away, and the $200m of improvements by the Victorian Government that will reinforce the primacy of the Southbank arts and cultural precinct.
A Visionary Collaboration
Another artist's impression of Artis Melbourne. (Photo by Crown Group)
Architect Koichi Takada said Artis was at the gateway to the Melbourne Arts Precinct, so the design naturally celebrates the city’s vibrant arts scene and sense of community.
The two striking curved white towers encircled by sinuous white “ribbons” was inspired by the tempo of music, adagio and legato, creating movement and fluidity throughout the spaces that is smooth and connected.
Facilities include a rooftop lounge and garden, children’s play area, gym, indoor pool and jacuzzi. There will be a 448 sqm community arts space in the lower level to host exhibitions and a 49 sqm retail space for a ground floor cafe.
The development is located 1.5km from Melbourne's CBD, 1km from Flinders Station and less than 1km from Melbourne University. Construction will start in July 2021 and is targeted to be completed in 2023.
If you’re looking for some key pointers to the future of Melbourne property consider these:
● There has always been strong foreign interest in Melbourne from tourists, migrants, investors and developers.
● The current metro area population of Melbourne in 2020 is 4,968,000, a 2.01% increase from 2019.
● The University of Melbourne is Australia's leading public research university, attracting more than 60,000 students from 130 countries each year.
● Melbourne Arts Precinct in Southbank forms the city’s cultural heart, with a higher concentration of galleries, theatres and art spaces than most cities in the world. The precinct shows more than 3000 performances and exhibitions each year.
● Melbourne is home to Australia’s most visited gallery, the National Gallery of Victoria, and the nation’s largest performing arts centre, Arts Centre Melbourne – home to The Australian Ballet, Melbourne Symphony Orchestra, Melbourne Theatre Company and Opera Australia.
For more information, visit https://www.crowngroup.com.au/melbourne/