19 Jul 2013

Super investment for apartments by the bay

In a tucked-away spot, but within walking distance of Brighton’s Bay Street, the Warleigh Brighton complex will add 101 apartments and seven townhouses to the popular bayside suburb.

Developed by Cbus Property, a subsidiary of the construction industry’s superannuation fund, the $100 million development will be on a 9105-square-metre corner site once occupied by the North Brighton Croquet Club.

To be built in three sections, the Luxe block will have 39 apartments, the Domaine block 62, and The Residences seven three-bedroom townhouses, all with studies.

Luxe has 33 two-bedroom apartments, four with studies, and the remainder have three bedrooms. Domaine has 30 two-bedroom apartments, four three-bedroom apartments and 28 one-bedrooms.

The one-bedroom apartments start at $585,000 and there are only two (with studies) left. These are from 62 square metres to 73 square metres and priced from $610,000-$629,000. Two-bedroom apartments begin at $719,000 and range in size from 82 square metres to 112 square metres, with the larger sizes having studies. All the two-bedroom apartments have two bathrooms.

Three-bedroom apartments range from 124 square metres to 129 square metres and come with two bathrooms and two car spaces.

They start at $1,075,000. The townhouses have three bedrooms and are much larger at 188 square metres to 199 square metres. They have a study and double garage and are priced at $1.85 million. Three remain for sale.

Each building has a different design and outlook, with the townhouses offering separate street addresses on the eastern end of the site, with all fronting Warleigh Grove, The Luxe site also fronts Warleigh Grove but its apartments, like Domaine’s, have views of the development’s central gardens.

The communal lawns will have timber day beds and the buildings’ roofs will collect rainwater for the gardens. Interiors of the apartments vary slightly, but all are in neutral tones. Kitchens include Miele appliances, stone benchtops and tiled wet areas. The townhouses have timber-floored living areas, and the apartments have carpeted living rooms and bedrooms.

About 70 per cent of Domaine’s 62 apartments have been sold to young buyers, downsizers and investors. About a third of the Luxe block has sold, mostly to downsizers The Residences have been sold to families and downsizers.

Construction is expected to be finished by November and a display suite, phone 0402 098 888, is open at 369 Bay Street, Brighton, from 11am-2pm on Wednesday, Thursday, Saturday and Sunday. A Luxe apartment is available for inspection by appointment.

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