Luxury boutique builder Ravida Group is proud to announce the completion of construction of their latest apartment project in Malvern, with the penthouse sale reaching $2.05million.
Defying speculation of a property downturn, the first sale after completion has set a benchmark for the new development which comprises a quality mix of eight prestige apartments, one penthouse, one villa and a spacious basement car park.
With four apartments pre-sold during the construction phase, the remaining apartments were returned to the market last week which resulted in the sale of the penthouse.
The 18-month project is now complete with apartments available from an average price of $1.2million.
Located at 333 Wattletree Road, the project covers a total of 2,743sqm. This development offers a range of floor plans to buyers seeking apartment-style living in the heart of Malvern.
The $14million residential apartment project has been designed for a local developer by leading firm Demaine Partnership, project managed and constructed by the Ravida Group and marketed by real estate agents Bennison Mackinnon.
Ravida Group managing director, Don Ravida, said the sale of the penthouse indicated that quality projects in the right locations are still very much in demand.
“In a time when discussion is very much about the economic downturn and doom and gloom, this sale represents the fact that well placed inner city developments such as Wattletree Road are still very much hitting the mark.”
He said working on high-standing projects such as Wattletree Road further cements the Group’s reputation as a quality construction firm.
“With extensive experience in the home design and construction process, we have carried the principles of luxury building standards into the apartment development market. As a result of this, the apartments on Wattletree Road have been fitted with the luxurious finishes traditionally reserved for high-end houses. We believe this development is further testimony to our company’s growing commercial division and our commitment to maintaining superior standards in construction. Wattletree Road is renowned for its beautiful streetscape and central location and this development adds to this by providing a prestigious new style of apartment living in Malvern. Responsible for the completion of construction for this four story apartment development, we look forward to seeing buyers moving and settling into this fantastic new home address.”
Responsible for pre-selling apartments within the development, Bennison Mackinnon chief executive, Iain Carmichael, said there has been significant interest in the project throughout the construction process and it is great to see it come to fruition.
“There are very few apartment developments of this caliber east of Glenferrie Road which is one of the aspects that has drawn great consumer interest. Already, the response from buyers has been fantastic. This is in part due to the innovative design by Demaine but also the quality construction, finishing and fittings carried out by Ravida,” Mr Carmichael said.
With the lavish penthouse selling at over $2million in a private sale earlier this week, and now with just four apartments remaining, the opportunity to purchase one of the prestigious new living options on Wattletree Road will not last long.
For further information regarding Ravida residential or commercial projects please visit ravida.com.au or phone 03 9821 0244.