What buyers need to know about 661 Chapel Street South Yarra: Developer Q&A with Gamuda Land CEO Ngan Chee Meng
661 Chapel Street in South Yarra is the first Australian project of the Malaysian-based developer Gamuda Land.
Completed ahead of schedule in 2018, 661 Chapel comprises 116 one, two, three and four bedroom apartments across 30 levels and was designed by local architecture firm Bird de le Coeur.
We recently spoke with Gamuda Land’s chief executive officer Mr Ngan Chee Meng to discuss the luxury development.
JR: What are the highlights of 661 Chapel and what attracted buyers to the project?
NCM: Like us, our buyers are enamoured with the unique panoramic views of Melbourne CBD and the Yarra river - all set behind the green of the Melbourne High Oval. It’s a view you can fall in love with a few times in a day.
But they are also keen-eyed buyers and are aware of the value that the heritage zone in front of 661 Chapel St plays in safe-guarding these unobstructed views.
Besides, buyers love the community spaces that are mindfully designed and placed within the development such as a grand library in the lobby, the lounges and cinema at level 6, private dining rooms as well as a wine room. In a lockdown, these community spaces provide extra convenience for residents to work-near-home without having to leave the development.
JR: What was the brief for 661 Chapel St for architects Bird de la Coeur?
NCM: Creating a community is an important factor in all Gamuda Land projects so the brief to BDLC is that 661 Chapel St being a high-rise building, must be designed as a vertical village with common areas that enhances resident interaction.
The ground floor features generous shared communal spaces - including entry through a sculpture walk, a library with a dramatic onyx window wall, a shared kitchen table for coffee and newspapers, and a boardroom facilities.
Level 6 is a whole floor of mind and body fun including a lounge and deck, a wine room, two private dining rooms, gym, a cantilevered 25m pool with sauna and steam room, as well as a Richard Serra inspired cinema.
JR: Where did buyers come from, and who was the development appealing to?
NCM: Initially, we saw a strong 30 per cent take up from our followers from Malaysia because of Gamuda Land’s reputation for developing quality residences. But since completion, the majority of our buyers have been locals as seeing is believing. Our buyers are mainly down-sizers,
affluent young professionals and successful business owners who appreciate the value that 661 Chapel St brings and the rarity of a quiet residence with a never-to-be-built-out view.
Our strategy to deliver a touch and feel product before traditional pre-sale requirements allowed us to reach these markets for which seeing is believing.
JR: Where is current buyer enquiry coming from?
NCM: Due to the pandemic and lockdown duration, we saw a spike in enquiries via digital platforms such as Urban.com. We are expecting this trend to be dominant moving forward.
JR: Are there any other residential developments in the pipeline?
NCM: Gamuda Land is exploring new opportunities in Australia, particularly Melbourne and is actively canvasing. We’re working with local partners to identify projects to deliver high quality, liveable and future-focused products.