After selling 90 percent of the apartments in the first Victoria Square tower, developer Growland has launched the second stage of the development, which is located in Footscray's Joseph Road Precinct.
Growland will now pursue the local owner-occupier market even more vigorously in order to account for the bulk of the second tower's sales, having noted a recent decline in foreign buyer interest. The newly released tower has been dubbed VS02, and will include 168 apartments spanning levels 4 to 21.
To attract as many potential buyers as possible, Growland is diversifying the development’s floorplates and design options. The company has also begun building out single-bedroom apartments within VS02, starting at 61 square meters, a larger offering than many other Melbourne apartment projects.
“Interest from foreign buyers is slowing due to regulatory changes, so the market has adapted to meet the preferences of the local owner-occupier market,” said Ronald Chan, CEO of Growland.
VS02's greater design diversity includes three kitchen designs and two color schemes. One-, two-, and three-bedroom apartments are available, and include flexible breakout zones in the living spaces.
“The need to add a study or separate office to apartments has been superseded by the need for flexible work zones,” said Billy Kavellaris, Managing Director of Kavellaris Urban Design, which is designing part of the wider six-tower development. “We have integrated flexible nooks and activity spaces throughout the Victoria Square apartments, so residents can use these for work or relaxation, or children can use them for homework.”
The entire development will also include an outdoor running track, fitness zones, split-level dining room, and retail hub.
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