NPM in the Market – Eureka Tower
NPM continues to build our relationships within buildings we engage with. In the case of Eureka Tower, the foundations of many relationships were established since before the project was originally released to the market as lead off-the-plan sales agent and long-term building resident (Brett Jarvis) and external project advisor (Sam Nathan), which have resulted in our:
- Involvement in over 700 sales throughout the lifetime of Eureka Tower.
- Unparalleled understanding of the building, its composition, pricing and market position, leading to several record-setting result for various apartment types.
- Continuing to work with owners to assist with their understanding of the project, context of the building, and maturing influences acting upon this market segment.
Since December 2017 our office has now facilitated eight (8) sales (close to $13M) across a range of configurations, including some landmark transactions:
- Level 73 – The off-market sale of an upper level half-floor at $4.75M, being the first half-floor sale in almost 10 years to an existing building resident seeking to upgrade their accommodation for a long term family residence.
- Apartment 6908 – Extensively renovated, offered to the market in March and sold within two weeks at $2.7M, setting a new benchmark for an apartment of this type and size within the building. View property https://www.npm.com.au/apartment-6908-eureka-tower-7-riverside-quay-southbank/
- A further five off-market sales, and the recent contracting of Apartment 3102 after an on-market campaign.
We take it upon ourselves to promote a wider understanding of the structural shift occurring in our housing market, and the scarcity of high-calibre buildings to satisfy the deepening demand for premium accommodation in the central city.
Understanding the position of different buildings in the market, the influences acting upon them and working with both buyers and sellers to also understand the attributes of each project and apartment and critical elements in working within what is still a rapidly maturing market segment.
In our collective experience focusing specifically on the apartment market, working across sales, marketing and strategic advisory on the majority of Melbourne’s most renowned buildings, the narrative in the premium building apartment market has never been stronger, nor has depth of demand been higher.
These outcomes continue to exhibit Eureka Tower’s strengthening position, supported by the shift towards high quality apartments occurring in the central city, the unique attributes of the building, and our relationships and method of engagement with the market.
Should you at any stage wish to discuss the ongoing evolution of the market or the position of any building or your apartment, please feel free to make contact with us.