Located at 194-196 Manningham Road, within the affluent eastern suburb of Bulleen, only 12 kilometres from the Melbourne CBD, a number of the apartments have the additional benefit of Melbourne city views.
The 1,482sqm property benefits from close proximity to a number of prominent schools, in addition to major retail centres such as the Westfield Doncaster and Bulleen Shopping Plaza.
CBRE’s Julian White said the property would be highly attractive to builders and investors alike.
“It is uncommon for investors or owner occupiers to be able to buy brand new apartments so close to completion. We anticipate buyers of the site will recognise this and factor in fast sell down periods as a result,” Mr White said.
Scott Orchard said recent changes in the stamp duty policy would also attract strong buyer interest.
“With this project nearing completion, investors can buy straight away and not be at a disadvantage any longer to off the plan sales from a stamp duty perspective. Further, given greater stamp duty concessions for first home buyers from 1 July 2017 and the price point of these apartments, developers will also expect strong demand from these groups.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.