Friday 23 March 2018
Property group Pellicano has brought forward the construction of Alke, its newest Melbourne residential development, following stronger than expected off-the-plan sales to local downsizers, first-home buyers and young families.
Alke, a $55-million project, launched in September 2017 and presented prospective buyers with the opportunity to purchase in the heart of Oakleigh, a well-established suburb in Melbourne’s south-east.
After four months of strong sales, construction is now underway, six months earlier than planned.
Pellicano managing director Nando Pellicano attributes the success of the campaign to the enduring fundamentals to which the Pellicano group adheres. “These fundamentals are quality design, amenity – both within the development and lifestyle amenity – and an in-demand location,” Pellicano says.
“Alke embodies all three of these aspects and the market responded.”
Pellicano’s original proposal was for 115 apartments but has dropped to 89, increasing the size and ratio of larger apartments to accommodate the demand for spacious homes. Pellicano continues to re-design and combine apartments, which could see this number drop even further.
Purchasers of three-bedroom apartments and new releases have the option of meeting with the Alke team to tailor apartment finishes to suit their preferred style. Recently, this process supported the sale of the penthouse residence for $1.1 million. “We are finding that customisation is high on the wish list of the modern purchaser, especially in the local owner-occupier market where interest in Alke is stemming from,” says Pellicano.
Renowned architecture studio SJB designed both the external and internal schemes, specifically alluding to Oakleigh’s existing architectural fabric through its use of brickwork, sculptured form, space and privacy.
Alke is just 13 kilometres from Melbourne’s CBD and within minutes to major arterials, incredible dining options and Chadstone Shopping Centre.
Oakleigh also offers high connectivity through its public transport routes, and enjoys access to highly regarded public and private schools, as well as universities.
The development-basement works are progressing well, with an expected project completion date in mid-2019.