LUXURY APARTMENTS IN SOUTHBANK NAMED “ARTIS”
Australian property developer Crown Group will launch its first Melbourne development next month, firstly to buyers in Indonesia, then China and South East Asia, followed by Australia in the New Year.
Crown Group Chairman and chief executive officer Iwan Sunito said that “Artis”, located in the prestigious Southbank vicinity, is part of Crown Group’s plan to create a $3 billion development pipeline in Melbourne.
“We are confident to launch in the current market because we are supported by key market fundamentals – it is in a prime, highly sought-after location outside of the Melbourne CBD; there is strong demand for a boutique development with unique design; and there is restricted supply of such a product,” Sunito said.
He added that having only 153 apartments, uninterrupted city views and a design by internationally renowned Koichi Takada Architects meant it is a truly limited offering.
“There are very few developers launching in Melbourne in 2021 and therefore limited stock available to meet the pent-up demand. There has also been a lot of anticipation about Crown Group coming to Melbourne for the first time,” Sunito said.
Crown Group, which has offices in Sydney, Brisbane, Indonesia, and Los Angeles, has teamed with experienced Melbourne residential developer G3 Projects in their first joint venture.
G3 Projects, headed by Bobby Iskandar Lim, has made a name for itself with numerous sophisticated boutique projects across Melbourne over the past 25 years.
The landmark building will change the face of Southbank with its beautiful white ribbon-effect façade that reflects the movement of art in motion. Set across a corner site of 22,281.29sq ft at 175 Sturt Street, Artis will host 153 luxurious one, two and three-bedroom apartments and penthouses.
Residents will have access to Crown Group’s signature resort-style facilities, which include a beautiful rooftop lounge with garden and children’s play area, level one gym and spectacular indoor pool and jacuzzi. A community arts space and café will provide a space for local artists to exhibit.
Colliers Director, International Residential Melbourne, Robert Papaleo, said Artis would border the St Kilda Road precinct, offering prime living on the city fringe with easy access to the Royal Botanic Gardens and some of Melbourne’s most prestigious schools.
“The rejuvenation of Southbank is continuing, with transformation of its riverside precinct and creation of new public spaces to match the appeal of the renowned St Kilda Road boulevard,” Papaleo said.
“This location is only set to improve with the opening of the new Anzac Metro Station in 2025, 600m away, and the $200m of improvements by the Victorian Government that will reinforce the primacy of the Southbank arts and cultural precinct,” he added.
Melbourne’s contemporary apartment market had enjoyed a re-birth via several projects around Southbank 30 years ago and now it continues to evolve along with Melbourne’s improved global city status.
Papaleo said Artis would launch at a time when new apartment supply in Melbourne was falling dramatically.
“The mid-2010s saw an unprecedented wave of new apartments built across Melbourne which was supported by an equally unprecedented level of demand. This supported a fundamentally strong apartment market.
“The outlook now is for new apartment completions to fall dramatically post 2022 with buyers of quality apartments in city fringe locations like Southbank facing limited choices,” Papaleo said.
Melbourne Arts Precinct in Southbank forms the city’s cultural heart, with a higher concentration of galleries, theatres and art spaces than most cities in the world. The precinct shows more than 3,000 performances and exhibitions each year.
It is home to Australia’s most visited gallery, the National Gallery of Victoria, and the nation’s largest performing arts centre, Arts Centre Melbourne – home to The Australian Ballet, Melbourne Symphony Orchestra, Melbourne Theatre Company and Opera Australia.
The Victorian Government is now working to transform the Melbourne Arts Precinct into one of the great creative and cultural destinations of the world with a $200 million funding boost.
For more information, visit https://www.crowngroup.com.au/melbourne/