Why there's been downsizer and upsizer interest at the Ivanhoe East apartments and townhouses in The Grounds
Ivanhoe East is one of the most prestigious suburbs in Melbourne at the foot of the CBD, drawing many of their street names from characters in the novel Ivanhoe by Sir Walter Scott.
The suburb has held strong fundamentals as a blue chip investment suburb and for the past decade has seen strong growth at 5 per cent for houses and 2.5 per cent for apartments per annum in the past decade.
Currently comprised of primarily couples, growing families and older independents, the demographics have been shifting towards younger professionals and younger couples looking to buy their first family home or apartment.
The Grounds meets this growing need for space with more than half of the precinct comprising gardens, public spaces and a central landscaped Village Green, designed by Memla. There's plenty of space for those raising or looking to start a family.
The Grounds is comprised of an exclusive collection of three apartment buildings, each architecturally designed to respond to their own address; Wilfred, Wamba and The Boulevard. There is also the Oak Terraces, located off Cedric Street, offering a limited collection of townhomes.
The homes are finished with hardwood flooring and a choice of colours and finishes, offering ensuites and walk-in robes, or an additional living room or study depending on the buyers needs.
All homes are complete with a host of luxury features, from high quality European kitchen appliances and larder, to double glazing and pure wool carpets.
Prices start from $1.1 million for a two-bedroom apartment, with three-bedroom apartments starting from $1.31 million. There's a a limited selection of four-bedroom apartments, which are priced at at $2.35 million. The small collection of townhouses range from $1.89 million to $2.4 million.
The townhouse prices sit right in the range of the suburb median, while the apartment prices are in line with their size, premium quality and design. The apartments are 20 per cent to 30 per cent larger the median size for two bedders in Melbourne.
Just 15 minutes from the CBD, there is plenty on offer on location with some of the best Ivanhoe East dining and shopping destinations like Upper Heidelberg Road and Templestowe Road minutes away.