The Geelong 1 Apartments development has set a new benchmark for the area, writes TESSA HAYWARD
HERALD SUN, MONDAY 3rd October 2016
A record-breaking 30 apartments sold at the grand opening of the Geelong 1 Apartments on September 24.
Castran Projects managing director John Castran said it was a record for the greatest number of apartments sold in Geelong in one day.
"It is because they are affordable. People aren't stupid," Mr Castran said.
He said the most popular apartments were the rooftop apartments in the $500,000-$750,000 price bracket, with all of them now sold.
"They really flew off the shelves," he said.
Artist's Impression of the Podium Apartments View
Castran Projects director Lachlan Castran (pictured) said interest in the apartments indicated that they were filling a void or niche in the market on both price and product.
"Something like this hasn't really been offered before in Geelong... the level of inquiry is unprecedented, it is very strong," he said.
With the majority if apartments priced from $295,000 too $795,000, with two exceptions that cost up to $1.3 million, the development is attracting a mix of buyers.
Lachlan Castran said local interest had been very strong with everyone from first-home buyers to mum and dad investors to downsizers.
"The market has now matured enough and is more educated on what an apartment offers in Geelong," he said.
The development has a total of 110 apartments with a variety of one, two and three-bedroom designs plus two four-bedroom penthouses.
Football WAG and fashion blogger Nadia Bartel is also involved in the project as colour consultant in conjunction with Fenton and Fenton for furniture packages worth $11,000.
"It is nice for her to have a voice in the project," Lachlan Castran said.
Whitford, Newtown, director Dale Whitford said the apartments were outstanding value. "It will be a bit of an iconic development in Geelong, it is taking it to another level," he said.
Construction on the development, located on the corner of Bellerine St and Little Myers St, is expected to start in the first quarter of 2017 and completed towards the end of 2018.
For more information call Lachlan Castran on 0475 000 888 or visit https://www.castran.com.au/pro...