Motif Geelong apartment sales rocket on launch
Geelong's first apartment launch in a number of years has gone off with a bang.
Developer DM Property Group has secured 35 per cent of sales at its new Geelong apartment development, Motif Geelong. The sales came first from a VIP launch held earlier in the month, and then a public launch a week later.
RPM Group Projects Director Nic Cuni says the sales is a testament to the collaborating between DM Property, JV partner Icon Developments, as well as the exceptional architectural design by Rothelowman.
The project lent itself to a mix of buyers, which is what Cuni has seen already.
"The most prominent buyers were first home buyers, predominantly female professionals who work in the area and want the safety and securing of an apartment. They want to be in the heart of the action, going to the local restaurants and the growing lifestyle precinct. They're not wanting to leave the city to buy a house and land package outside of Geelong."
Cuni says the other biggest demographic was local downsizers.
"They're downsizing from their suburban home into an apartment which is bringing them closer to Geelong and everything the city offers."
Local investors, who have seen the growth in Geelong in recent years and believe there's still signifcant upside when it comes to price growth, also bought in, as did a couple of interstate investors.
Motif has 129 one and two-bedroom apartments across its five-levels.
Motif is fossil fuel-free, and the electricity consumption is offset by significant solar paneling, making it a 7-Star NatHERS-rated building.
Cuni says the location, paired with the rarity of a new apartment development in Geelong, was a major factor in the sales success.
Motif is ideally located at 1 York Street on the fringe of the CBD, just a stones throw from Pakington Street's cafes, restaurants and bars, and the Little Malop Street precinct, home to The Geelong Library and Heritage Centre, the most striking piece of architecture in town, while all being one street away from the water.
"This really ticks all the boxes for so many people. The location is unbeatable, so close to amenity, the beach, and just a 10-minute walk into the heart of the city. Then there's Rothelowman, who are one of the best collaborators in the game."
DM Property was founded by property development experts Brendan Mullan and David Dordevic. Their first development was Early 3191, a collection of townhouses in the heart of Sandringham. That was another in which they had Rothelowman pull together the designs for the 35 townhomes.
