Five reasons The Peak in Melbourne should be on a buyer's shortlist
The Peak is the latest Melbourne CBD development from the property developing Auriton Group.
The $102 million building, rising 140 metres above La Trobe Street, has been a landmark addition to the city skyline since its completion in mid-2020 due top its strikingly thin design.
The Peak homes 177 apartments across its 43 levels, with just four apartments per floor, resulting in each apartment having a corner aspect.
Urban has taken a look at five reasons why The Peak should be on a buyer's shortlist.
1. The Location
The Peak is located at 141 La Trobe Street, on the quieter north-eastern side of Melbourne just off Carlton Gardens.
Within short walking distance of The Peak is the State Library Victoria, one of Melbourne's most impress heritage-listed buildings.
The transport options are immediate, with bus and tram stops located at the foot of the building.
2. The Value Proposition
The Peak has been reasonably priced given its location and apartment prices of surrounding apartment developments.
Nearby developments are selling between 20 per cent and 40 per cent higher than The Peak.
The Peak is also located just off Spring Street, one of Melbourne's premier apartment addresses.
3. The Stamp Duty Savings
The Victorian Government announced in the budget that all apartments within the City of Melbourne that had been built for 12 months or longer would see $0 stamp duty paid by buyers.
The concession only applies for apartments under $1 million.
The Peak just falls in to the category, having finished construction just over 12 months ago. The most expensive apartments remaining in The Peak are the two bedrooms which max out at $767,000 for the biggest floorplates.
4. The Architecture
The Peak was designed by the national architecture firm Plus Architecture.
"The design focus was to create the highest quality of luxury apartment living with an engaging eastern façade providing uninterrupted views to Carlton Gardens and beyond," Plus Architecture advise.
"The Peak is located at the very heart of Melbourne and forms a dramatic pinnacle within the urban fabric of the city.
"The striking eastern façade, comprising triangular forms and abstract shapes, creates a signature building in this part of town.
"With its striking jagged peak towering above, the edge to the glass tower forms a sharp triangular point, framing views over the city skyline and Carlton Gardens beyond."
5. The Investment Potential
Since The Peak has been completed, and despite the raft of COVID-19 induced lockdowns, landlords have continued to see a solid take-up in the apartments held by investors.
There's currently long terms tenants in The Peak, as well as short-term, those who are seeking to stay in the Carlton Gardens location for a slice of the price as surrounding developments.
The pool of owner-occupiers and tenants tend to be the young professional demographic, who want to stay away from Melbourne's busier areas but still want to be within walking distance to the action.
Auriton are also offering a rental guarantee for investor purchasers.