Brighton development 380 Degrees about half-sold two months after launch

Almost half of the 95 apartments in Abacus Property Group’s new Brighton development, 380 degrees, have sold since the project launched in February.

The $110 million development at 380 Bay Street will comprise five levels and is designed to appeal to buyers seeking luxurious, low-maintenance living options in the affluent suburb.

“With apartment living growing exponentially in recent years, 380 Degrees has been carefully designed to capture the epitome of contemporary Australian living,” says Abacus Property Group associate director John Bush.

He says the development appeals to “a broad range of buyers, including empty nesters, investors, corporate high flyers and first-home buyers”.

About 40 of the apartments have been sold to date. Construction commenced in March this year and is set to be finished in late 2013.

There will be 42 one-bedroom apartments, which will range in size from 55 to 75 square metres and from $460,000 to $600,000. Of these, 31 will include a multipurpose room/study, and these start from $545,000. The 40 two-bedroom offerings will be between 80 and 117 square metres internally and will range between $639,000 and $995,000 in price. There will be 13 three-bedroom units of between 102 and 125 square metres, priced between $1.11 million and $1.27 million.

According to RP Data, 20% of the dwelling stock in Brighton comprises units, with about 60% detached houses. The median unit price in Brighton fell 4.8% last year.

Architecture firm Rothelowman is behind the striking design.

“380 Degrees will be an excellent addition to the area. The building’s façade will feature perforated metal sliding panels to create a stylish winter garden effect,” says Interiors Rothelowman associate Clementine Inglis.

“Spacious balconies and terraces have been designed to capture indoor and outdoor living, whilst creating a sense of sanctuary and privacy, which is perfect for entertaining and escaping. Each apartment’s interior will reflect minimalist style with a sophisticated fit out – wide floorboards and modern cabinetry to polished fittings and flush surfaces throughout help ensure a prevailing sense of openness, the perfect elements to create a home and a lifestyle.”