Nestled in the heart of Melbourne’s ‘university city’ in Bundoora, the latest stage release at Polaris 3083, ‘Lunar’, is offering savvy home-hunters the chance to purchase a spacious new apartment for just $395,000 – less than half the price of the neighbouring established estate, Springthorpe’s average re-sale price of circa $1million.
Since Lunar’s release late last month, purchasers have been quick to realise the value in this sought-after pocket of Bundoora with all of the precinct’s townhomes selling out in quick succession, spurring the developer, Deal Corp to fast-track the apartments’ release in order to meet the demand.
Located 14km from the CBD, Bundoora has witnessed significant growth both in popularity and price in recent times, with an annual median house growth of over 38 percent in the last five years*1.
Polaris 3083’s own ‘Stellar Townhouses’ offerings, completed two years ago, are already recording re-sale prices a staggering 25 percent above their initial purchase price, indicating the strength and quality in the local area.
This latest release has provided purchasers with a unique opportunity to step into the booming local property market and enjoy the long list of established amenity and infrastructure already at their doorstep.
Spread over 26 acres in the heart of Bundoora, Polaris 3083 is playing a large role in redefining the area with a thriving new dining and shopping precinct and over 1,100 dwellings spread between the site’s unique heritage buildings and stylish new homes.
Designed by multi-award winning architects, Clarke Hopkins Clarke, Lunar delivers innovative contemporary design that seamlessly integrates luxury and practicality.
The open plan apartments and townhouses feature intelligent design with natural light flowing in from floor to ceiling windows and spacious interiors.
Apartments are fitted out with full height kitchen joinery, mirrored bathroom cabinetry and full height bedroom wardrobes. Other amenities include weather-protected balconies, external storage and a secure basement parking facility. The exclusive townhouses are even more luxurious with a private outdoor courtyard and entertainer’s kitchen.
Characterised by a series of unique and architecturally beautiful heritage buildings and initially launched to the market in 2014, Polaris has transformed into a thriving retail and residential hub, boasting a new town centre and neighborhood complete with a full-line Woolworths supermarket, Dan Murphy’s, Chemist Warehouse and 26 other retailers, with an additional eight shops, restaurants and services to open in the coming months.
DealCorp project director, Andrew Wyman, envisions Polaris 3083 as a vibrant shopping and dining precinct focused on health and sustainability for future residents and Bundoora locals alike.
“Upon completion, the local Bundoora community will have access to a range of amenities at Polaris including a thriving town centre with 35 retailers and a medical and childcare centre.
“We are excited to see that our previous townhome stages in Polaris are re-selling for more than 25 percent above their purchase price, which reinforces the quality of the community and the inherent value in our superbly crafted homes.
“We are even more excited to bring our new release ‘Lunar’ to the market which we envisage will deliver similar returns to purchasers thanks to the beautiful architectural design and larger-than-average floor plans,” he said.
Ideally located next to La Trobe University and surrounded by golf courses, parks, schools and hospitals, Polaris has access to everything Bundoora has to offer. Most local amenities are just a short stroll or bike ride away, and if residents need to venture further out, the Route 86 tram stops right in front of Polaris.
The development also marks a first for Victoria with Polaris recently celebrating the achievement of being the first mixed-use development to receive the top ranking ‘Envirodevelopment’ certification under the UDIA’s (Urban Development Institute of Australia) new technical standards with a six leaf rating in ecosystems, waste management, energy and water conservation, use of sustainable materials and community engagement.
Polaris 3083 also received the UDIA’s Urban Renewal Award – the highest industry recognition – in late 2016.
Construction across three other sell-out stages at Polaris 3083 are on track for a 2017 completion.
For more information or to register your interest please contact Sales Manager, Brett Hallam on 0418 318 283 or visit the website: www.lunarpolaris.com.au