Melbourne's 607 apartment Light House tower development 75% sold

Melbourne's 607 apartment Light House tower development 75% sold
Jennifer DukeDecember 7, 2020

New residential development Light House from Melbourne developers Hengyi in a joint venture arrangement with Sixth Grange will bring 607 apartments to the CBD, and has already seen 75% sell.

The Elenberg Fraser-designed Light House project includes one, two and three bedroom apartments over 69 levels.

On the corner of Eizabeth and Franklin Streets it offers 360 degree views, a 25-metre lap pool and a private dining room/cocktail lounge.

Light House saw three quarters sell prior to retail launch, and is expected to begin construction later in 2014. Completion is expected for 2017.

The apartments are being sold through Colliers International.

It appears as though the early sales success may have much to do with launching offshore before releasing the properties to the Australian market, although the majority of the sales are said to have so far been to Australia-based buyers.

Advertising material references a “first launch” in Malaysia over one April weekend. Prices were recorded as starting from $368,000.

Hengyi is an affiliate of Shandong HYI, noted as one of the most affluent in China.

One-bedroom, one-bathroom apartments are currently advertised as from $360,000, with two-bedroom one-bathroom from $458,000 and three-bedroom two-bathroom from $800,000.

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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