$24.7 Million Aqueous Development Kicks Off In Port Melbourne
Work has commenced on Prince Development’s $24.7 million Aqueous residential development in Port Melbourne.
The apartment tower will feature five studio, 14 one-bedroom, 16 two-bedroom and six premium apartments across six levels, and basement parking.
Managing Director of Prince Developments, Peter Mitrevski, said the project has experienced strong pre-sales success.
“The apartment mix on offer has attracted both owner-occupiers as well as investors. Over 90% of the development has sold with only three apartments remaining,” he said.
Prices start from $365,000 for a studio apartments, $475,000 for a one-bedroom apartment and $595,000 for a two-bedroom apartment. The premium ‘penthouse style’ apartments start from $965,000 to $995,000.
Designed by Rothelowman, the building’s design was inspired by the site’s coastal location on Port Phillip Bay and close proximity to the beach.
Rothelowman Principle, Shane Rothe said these elements can be seen through the use of natural precast concrete panels, which provide framed views of the surroundings and capture the best qualities of the site.
“The facade has depth thanks to carefully placed voids enabling internal spaces and surfaces to be revealed, while permitting light and ventilation as well as protection from the elements,” Mr Rothe said. “This allows privacy to tenants while encouraging activation to the street frontage.”
Construction is scheduled for completion in October 2014.