Setting a New CBD Benchmark
Reflecting the attributes of the unique accommodation and nature of NPM’s engagement with the market, the sale of Apartment 3603/35 Spring Street set a new price benchmark for an established apartment in the Melbourne CBD.
The offering was unique for the city, featuring approx. 331sqm of living space and 199sqm of breathtaking terraces, perched high above renowned Spring Street capturing panoramic views of the Treasury/Fitzroy Gardens, sporting precinct, bayside and CBD skyline.
The process of sale further entrenches our view that understanding the drivers of the high value market, structural shift occurring in the sector, the position of individual buildings and influences affecting each property are critical in representing the interests of vendors, engaging deeply with purchasers, and ensuring the full narrative of a property is portrayed to the market.
Melbourne is on the cusp of understanding high value owner occupier apartments, but the market still has room for maturity. Importantly for vendors, we believe there is room for higher quality representation on behalf of sellers at this level of the market, to allow for deeper engagement with purchasers and appropriate respect to be shown and conveyed for the quality of property on offer.
The campaign coincided with the opportunity to be interviewed by The Asian Executive recently for an upcoming edition discussing the city, market, the meaning of true scarcity and the drivers of this continually emerging but fundamental segment. Interestingly, and reassuringly, the key themes discussed in the article came to the surface and were reiterated through the campaign.
Link to Asian Executive: Defining the Luxury Apartment Market…https://www.theasianexecutive.com.au/2017/hero-post/luxury-prestige-35-spring-street-melbourne
To discuss how we can assist you understand the ongoing evolution of the market, position of your apartment or our approach to sale (public or discretely), please feel free to make contact with us directly.
P: +61 3 9329 9432