Melbourne's Australia 108 now at 90% sellout

In early March some 75% of apartments on offer in what will be Melbourne's highest tower, Australia 108, had sold within three weeks of its launch.

It is now being marketed as 90% plus sold - an extraordinary success.

With 1105 apartments, the tower is being constructed by the Singapore-listed Aspial Corporation through its subsidiary World Class Land.

Andrew Leoncelli, the Melbourne director of CBRE, best described selling interest in Australia 108 as "running hot".

"The project has sold incredibly well," Leoncelli advised on launch.

"It's about super convenience and amazing facilities," says Leoncelli.

It was only earlier this year that Singapore's World Class Land, a subsidiary of Aspial Corporation, got the final go-ahead for Australia 108 which will have 1,105 apartments.

Architect Karl Fender of Fender Katsalidis Architects says Melbourne residents have developed a taste for high-density living. 

Australia 108 and the 297-metre Eureka tower will "like the two gateposts to the city", Katsalidis says.

Last month Aspial sold the penthouse in the tower for a record $25 million to a China-based businessman.