Herald Sun Story | Written by Nathan Mawby
Buyers are increasingly looking beyond their front door.
A lockdown-inspired push for leafy addresses has helped the overhaul of a Melbourne racecourse trot forward despite the pandemic.
Last month, construction started on the first apartments at the $2.5bn Moonee Valley Park redevelopment by Hamton Property Group, Hostplus and the Moonee Valley Racing Club.
It follows $70m in sales across the wider project in the past six months. The 40ha site has 50 per cent of its space set aside for communal parks and gardens, as part of a plan to establish it as a neighbourhood in a park.
Hamton managing director Matt Malseed said this had been important to many buyers. “Its great to see how Moonee Park’s various botanical spaces are resonating well with buyers and has translated into strong sales results,” he said.
Realestate.com.au data shows a 77 per cent increase in searches for outdoor areas across Melbourne since February 2020, and a 104 per cent increase in inquiries for courtyards. “This increase is likely driven by the longer periods of time spent at home during 2020 and the need for additional space,” analyst Karen Dellow said.
Geoff Gray is among those to buy into the Thomas Street apartment complex that is now being built. He said he had bene drawn in by the prevalence of parks and walking trails. After 11 years living in a unit in bayside Hampton, Mr Gray said he was looking forward to a north-facing, two bedroom home with a tree-lined view from the forth floor. He also expects to take advantage of the surrounding greenery and amenities with his new partner, who lives nearby and his granddaughter. “It offers so many leisurely activities in terms of the recreation center and all the space for walking around,” Mr Gray said.
Two bedroom apartments at Thomas Street cost from $645,000-$665,000, three-bedroom offerings from $1.09m-$1.125m.
For more information, call Tracey Bradshaw on 0413 282 999 or see mooneevalleypark.com.au