Buyers jump at new Ringwood mixed-use development
An eye-watering $17 million worth of sales were inked last month for Ringwood’s latest luxury development.
East End is set to bring the luxe inner-city lifestyle to Melbourne’s outer east, and there has been plenty of buyer appetite to secure a slice of the all-round offering.
The multimillion-dollar mixed-use precinct, by local developer Sunstone Projects and CHT Architects, will feature three buildings connected by a landscaped public plaza containing retail and dining spaces.
The project will also include a Marriott Hotel.
Residents will also have access to co-working spaces, a gym, cinema, library, pool and the hotel’s amenities.
Marshall White Projects director Leonard Teplin says the impressive sales result for the month of March has the potential to fast-track construction, depending on how the sector is impacted by COVID-19 in the coming months.
“There has been a mix of buyers; a lot of professional singles and then people coming from acreage looking to downsize and move closer in where they have good freeway access,” Teplin says.
“But the biggest reason someone buys here is for the retail offering. There is 4000sq m of retail space, great amenities and that ties into the hotel.
“It’s a full-service offering and that’s never really been done before outside the CBD.”
An artist’s impression of the outdoor piazza that will form part of the development.
March also saw one of the project’s penthouses snapped up off the plan for about $1 million.
The level-17 penthouse features three bedrooms and outlooks to the Dandenongs.
Teplin says the view is a standout feature of the penthouse, along with a long list of high-end inclusions such as polished concrete-look feature walls and Bosch integrated appliances.
Prices start at $388,000 for a one-bedroom apartment. Two-bedroom pads are priced from $537,000 and three-bedroom apartments start at $681,000. The remaining six penthouses range in price from $1.848 million to $3.98 million.
Brian Gamble recently purchased a three-bedroom apartment in the development for he and his wife after being impressed by Eden Square, another project by the same developer and architect.
“We watched the build of Eden Square Ringwood and were impressed by the transition from artwork to the fruition of a very liveable urban landscape,” he says.
“(We choose East End as it was) close to Ringwood and Heatherdale stations and for the opportunity to live within an easy walk to amenities such as Eastland.”
Gamble says his favourite element about their new home is the modern and open-plan design.
He says due to their apartment’s size they could have a larger main living area, separate laundry and a butler’s pantry. He also added an extra storage cage and tandem parking.
This article from the Herald Sun originally appeared as “East End, Ringwood: Buyers splash $17m in a month on development”.
