Upgraders showing strong interest in Cheltenham townhouse development Central Park

Buyers have shown strong interest in the R Corporation’s new Central Park development in the Melbourne suburb of Cheltenham, with just over half of the 52 townhouses sold just three days after the first stage of the development officially launched on Saturday, March 17.

About 120 groups went through the display centre during the weekend of the project’s launch. Ten of the townhouses were sold over the weekend. Pre-sales began for the development in November last year but ceased during the Christmas period. Pre-sales began again in February 2012.

Central Park will offer six styles of townhouse, all named after flowers. They range from the two-bedroom, 121-square-metre Jasmine, which is priced from $530,000, to the three-bedroom, 170-square-metre Orchid, priced from $825,000. All styles come with carports or garages, with the Orchid including a double garage. The first stage of the development offers five styles, with Jasmine the only two-bedroom model available. All models have two bathrooms.

There will be four stages of 52 townhouses each.

“For us it’s about delivering a design-focused townhouse that truly caters to the modern lifestyle our customers lead,” says R Corporation marketing manager Rohan Ames.

“We take our knowledge and heritage of the designer apartment market and apply this approach and ability to design efficient living spaces for the townhouses. The benefit now is that with townhouses we have more room to play with and there isn’t a need to compromise on space. Bathrooms can be more spacious and accommodate double showers and dual basins, living spaces are large, bright and open, and bedrooms feature walk-in robes,” Ames says.

Central Park is aimed at upgraders who are buying their second or third homes.

“R. Corporation has recognised there is a largely ignored market that have outgrown their small apartment, but are not at the stage in life where they are considering, or can afford a large detached family home on a quarter-acre block,” Ames says.

The development’s target demographic is younger buyers who want the convenience of an inner-city lifestyle without being forced to live in tiny units.

“The modern home buyer wants the design aesthetic of an inner city apartment, but with more space for entertaining and relaxing, and which also gives them more options for the next phase of their life,” says Ames.

“In many suburbs the only alternative to an apartment in their price range is a dated existing home. These often require renovations to cater to a modern lifestyle, and they’ll find themselves spending their weekends maintaining the garden, mowing the lawn or worrying about whether the roof will leak. Instead they want a modern home that they can enjoy with friends and family but is also easy to maintain.”