News

Ringwood off-the-plan townhouse’s record breaking capital appreciation

A fantastic result for our client at our HighWood development

10 Aug 2018

Ringwood off-the-plan townhouse’s record breaking capital appreciation

Ringwood off-the-plan townhouse’s record breaking capital appreciation

A RINGWOOD off-the-plan townhouse has made its buyers a profit of more than $150,000 in just five months.
The townhouse’s capital appreciation of 27 per cent is the highest recorded for the suburb, an area that has been dubbed a burgeoning satellite city.
Investors Lu Dongyan and Duan Hongbo purchased the yet-to-be-built property at 22/37 William Stfor $549,000 in 2015.
A few months after settlement, in November 2017, they sold the three-bedroom pad within the Highwood development for $702,500.
The property was listed via Jellis Craig Doncaster and had initial price hopes of $620,000-$670,000.

Oz Property developer Raghav Goel said it was becoming more common for people to make money from off-the-plan apartments quickly, but some areas had done better than others, Ringwood a prime example.
“There has been a lot of investment made from the government and money being spent helps any property in Ringwood,” Mr Goel said.
“Our focus was the owner-occupier market and there’s strong demand for that in Ringwood.”

Only two of the 36 properties were purchased by investors, the remaining were bought by owner occupiers.

The suburb has been identified as a designated development area by the state government, earmarked as a key property hotspot for Melbourne.

It has experienced 73.6 per cent growth in the last five years, landing it with a $874,000 median house price, CoreLogic data shows.

The master plan enclave consists of 36 spacious townhouses across a 1.3ha site, a property owned by a local vendor for more than 50 years.

“We always had a vision to create a strong community and were conscious of the fact that is a large parcel of land and there are neighbours on all four side,” Mr Goel said.

“We wanted to be sensitive to what was already there.”

Mr Goel said despite the risks involved in buying off the plan there is plenty of money to be made.
“It’s always tricky buying off the plan and research is critical,” he said.
“The research should be about who the developer is, the design team and architect.
“It’s pretty easy to tell if the development fits the purpose you’re going after.”

See the full Article on Realestate.com.au

Balaclava Residences – Finishing Touches Jul 2018

The scaffolds have (mostly) come down at Balaclava and finishing touches have begun

06 Jul 2018

Balaclava Residences - Finishing Touches

Balaclava Residences - Finishing Touches

The scaffolds have (mostly) come down at Balaclava and finishing touches have begun. The blackbutt cladding has been given a coat of natural protective seal which should silver off beautifully!

Donvale Residences – Early Works Commenced Mar 2018

Early works including demolition has commenced at Donvale Residences

26 Mar 2018

Early works have commenced at Donvale Residences

Early works have commenced at Donvale Residences

Early works have commenced at Donvale Residences

Balaclava Residences Construction Update – Feb 2018

Groundworks including piling and slabs are complete. Framing is now underway

09 Feb 2018

Dream Living in Melbourne’s Leafy East at Donvale Residences

Situated in the green neighbourhood of Donvale, Donvale Residences is a collection of 7 contemporary townhouses that offer comfort and seclusion, affording diverse household types with a luxe place to grow.

12 Oct 2017

Dream Living in Melbourne's Leafy East at Donvale Residences

Dream Living in Melbourne's Leafy East at Donvale Residences

We’ve launched our 9th successful development in leafy Donvale.

Situated in the green neighbourhood of Donvale, Donvale Residences is a collection of 7 contemporary townhouses that offer comfort and seclusion, affording diverse household types with a luxe place to grow.

Oz Property director Raghav Goel believes that the new development will give residents an outstanding introduction to all that Melbourne’s east can offer and ensure that they get instant access to the exceptional amenities that the area boasts.

“At Oz Property Group, we recognise that local culture and heritage is a key part of our approach to developing inspirational spaces. We’re committed to creating projects that make a positive contribution to the communities in which we build, and Donvale Residences is no exception,” said Goel.

Open-plan kitchen featuring a fluted-glass splash back and Fibonacci stone tiles

With an emphasis on craftsmanship, the homes feature high ceilings, exposed timber beams and Fibonacci stone and terrazzo platinum tiling throughout each light-filled open living space. These are quality materials that will remain in style for the foreseeable future.

The principal of Cera Stribley Architects, Chris Stribley, believes that the use of exposed timber celebrates the mid-century architecture that Donvale is known best for by giving it a modern twist.

“Much of the meritable architecture in the area is mid-century post and beam construction. It was through this style of architecture that Australia really found its own identity, and in Donvale Residences we found an opportunity to reimagine this for the contemporary home-buyer,” said Stribley.

“Internally, we have expressed the hardwood ceiling joists were possible, which is a very mid-century approach. We have also used fluted glass and created timber dowel screens—another reflection of the mid-century aesthetic,” said Stribley.

Another highlight of the project is the interaction with the landscape, which is the sum of careful planning and the decision to retain significant natural assets.

“The large gum tree at the front has not only been retained but glorified. It highlights the way that the landscape is much a part of the overall dwellings as the built form, a common theme you will see reflected in the local post and beam houses,” said Stribley.

Donvale Residences is located just a 10-minute drive from Doncaster Westfield and Eastland, surrounded by the best local schools and other fantastic amenities in the area.

To take an exclusive tour of Donvale Residences, register your interest now!

HighWood Construction Update – Jul 2017

Stage 1 purchaser inspections have commenced at HighWood. Exciting times ahead for all our wonderful purchasers!

31 Jul 2017

HighWood Construction Update - Jul 2017

HighWood Construction Update - Jul 2017

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