No 18 Albert in Footscray releases stage two of apartment complex after stage one sells out

No 18 Albert in Footscray releases stage two of apartment complex after stage one sells out
Nicola TrotmanJune 19, 2013

Footscray is ripe with developments in the pipeline, including a residential apartment complex on the existing Footscray plaza building – No 18 Albert.

After a successful launch of stage one proving to be a complete sell out, stage two of No 18 Albert has officially launched with 100 apartments up for grabs.

The Banco Group development is sited above a revamped Coles and Kmart at 18 Albert Street Footscray and will feature a total of 234 apartments across five levels once completed.

One-bedroom apartments range in size from 55 square metres to 56 square metres and range in price from $340,000 to $405,000.

Two-bedroom apartments range in size from 67 square metres to 90 square metres and range in price from $465,000 to $500,000.

“While stage one of No 18 Albert captured the western urban landscape, strong demand is expected for stage two, with many of the apartments having uninterrupted views to Melbourne’s CBD or a tranquil landscaped garden aspect,” says Andrew Barbone of Banco Group.

Apartments will boast stone kitchen bench tops, European appliances a secure car park and private terraces.

“Our early start on No 18 Albert can be read as a sign of the momentum in Footscray and the anticipated continued enthusiasms for considered, architect-designed, contemporary and spacious apartments that offer quality at an affordable price tag.

Footscray offers the opportunity for capital growth in a suburb that’s in the early stages of gentrification and is the subject of significant visible public and private investment,” says Barbone.

Director of JAM Architects Chris Manton says the existing Footscray Plaza building has been re-worked into what will be the new centre of Footscray.

“The façade has been designed to be a dynamic arrangement of balconies, screens and panels, presenting life and movement to the street,” says Manton.

The development is due for completion in September 2014.

The median unit price in Footscray is $360,000 and the median gross rental yield is 4.3%, according to RP Data.

Property Observer recently reported on Herron Todd White’s Melbourne month in review, with the valuers giving the thumbs up to the market in Footscray, West Footscray and Maidstone.

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

Editor's Picks

"Creating a deal of a lifetime": Sherpa offers most affordable apartments in Palm Beach with Flourish on Sixth launch
The top 13 Gold Coast new apartment developments launching in 2025
City Beat November 2024: Melbourne property market continues to soften, but units hold up better than houses
Sherpa’s Perspective Helm to challenge Chevron Island apartment record
Third.i celebrate successful launch of Elevate, Hume Place apartments above Crows Nest Metro