Luxury Balwyn townhouse development Boston over 50 per cent sold as construction looms
The boutique townhouse development Boston in Melbourne's Balwyn has seen half of its townhouses snapped up before construction commences in the coming months.
Marshall White's director of projects Leonard Teplin puts the sales success down to the coveted location of Boston, set in the heart of Balwyn on Boston Road.
"Coveted locations like Balwyn lead the market for any property resurgence," Teplin says.
Teplin says buyers are already benefitting from the house price growth Melbourne is currently seeing, which is more prevalent at the top end of the market, according to CoreLogic.
"Buyers who have already gone ahead and considered opportunities such as Boston as a way to own a four bedroom brand new home from $2.15 million, where new homes on a standard quarter acres block are now well ahead of this mark in famous streets like Boston Rd.
"It’s a chance to lock in a new home purchase today, where any capital grown shown from the day of sale till settlement is then for the buyers benefit.
Boston, a boutique development of just seven townhouses delivered by JT Property Group, has been designed by Mim Design with the deep-rooted wine history of Balwyn considered.
In 1859, vigneron Andrew Murray bought 103 acres of land to realise his dream of producing world-class wines. He named his estate Balwyn, combining ‘Bal’ (Gaelic for home) and ‘Wyn’ (a Saxon word for vine) to create ‘the home of the vine’.
"We are exceptionally proud of our design for Boston — the period details that give the homes character and the contemporary elements that provide incredible comfort," Mim Design principal Mim Fanning said.
"Every detail within Boston is bespoke and high-end, from the angle of a timber stair to the curved stone of an island bench.”
The seven townhouse sit in landscaping by John Patrick Landscape.
Teplin advises that all of the buyers so far are owner-occupiers.
"Some currently live within a two kilometre radius of Balwyn , others grew up in the area and having now moved further out are keen to return and provide their children the same family environment and schooling opportunities that they grew up in," Teplin says.