- The residential offerings at Glenarm Square have sold out
- Buyers included first home buyers, young families, professionals and downsizers.
- Glenarm Square was built on the site of a level crossing removal in Glen Iris
Melbourne’s $100 million Glenarm Square development has seen the last of its 120 apartments snapped up with construction set to wrap up later this year.
Private developer DealCorp is responsible for the project which will deliver the residential spaces along with an 800sqm ground level retail and commercial plane, complemented by luxury resident-only facilities.
The Glen Iris apartments were priced from $600,000 to $2,300,000 with buyers including first home buyers, young families, professionals and downsizers.
The project, which was marketed by Marshall White Projects, is said to have seen a surge of interest through the pandemic, with buyers eager to capitalize on a lock and leave city residence.
Marshall White Projects Director, Leonard Teplin believes buyers were attracted by location, views, design and the amenity.
“In this market, it is rare to see a project of this scale sell out before completion. Buyers have some hesitancy, they want to touch and feel the product.
“But DealCorp have positioned the project incredibly well, they know their market and they have a strong track record for delivering premium projects,” said Mr Teplin.
The DealCorp development is set atop a 2,700sqm parcel of land which was left vacant when a level crossing was removed and the Gardiner trains station was repositioned.
DealCorp executive chairman David Kobritz has expressed his delight with the sell-out result of Glenarm Square.
Mr Kobritz said the project represented a progressive approach to the re-development and revitalisation of key in-fill sites.
“By creating living and vibrant neighbourhoods out of this repurposed and highly valuable land, we can deliver residences in suburbs where demand is traditionally high, and create an alternative solution to the challenge of urban sprawl,” he said.
“Our aim is to bring low maintenance and affordable living to inner Melbourne.
“Glenarm Square will be a stand out example of how we can create a project which not only services residents but the wider community.”
David Kobritz, DealCorp Executive Chairman
“Glenarm Square is set to deliver not only high-calibre apartments for buyers but an activated public realm that will seamlessly integrate with the entrance to the train station and bring vibrancy to the area with the activation of over 800sqm of retail and commercial space.
“Glenarm Square is not only proof that the concept works at an engineering and development level, but a benchmark for the revitalisation of future sites of this nature,” he said.
While residential opportunities are now sold out, retail and commercial areas will become available this spring ranging from 55 to 240 sqm.
