News & Media

New Parkville Gardens development going for gold


A new apartment development on the site of the former Commonwealth Games athletes’ village in Parkville has defied Victoria’s softening property market with its first two stages already sold and Stage Three sales already well under way.
Major Projects Victoria’s Executive Director, Tim Bamford, said that the 49 one and two bedroom apartments in Stage One of the Parkville Gardens development had sold, with most already settled.
“We’re delighted that after only 15 months we are handing over the keys to these fantastic and affordable new homes,” he said. “It’s also pleasing that around half of the Stage One buyers are owner occupiers.”
Mr Bamford said that all 51 apartments in Stage Two of the development had also sold and would be completed by the end of the year. Stage Three will comprise a further 58 high and low-rise one, two and three bedroom apartments, with 52 already sold and construction set to commence in late 2012.
“The fact that all apartments in the first and second stages of this development have been snapped up so quickly shows that even in a softening market, buyers will always be enticed by a quality and affordable property in a great location.”
“This exciting venture at Parkville continues from strength to strength, with most of the apartments in Stage Three already sold and plans for further stages already in the mix,” Mr Bamford said.
“The fact that the demand for these properties has withstood current market conditions is testimony to the lifestyle on offer at Parkville Gardens. I would suggest anyone looking for an affordable, great quality home within just a few kilometres of the Melbourne CBD should look no further than Parkville Gardens.”
The four two and three-storey buildings in the recently completed Stage One are located along Cade Way, in close proximity to surrounding parklands, bike tracks, local attractions, public transport and other amenities.  
Of the units already sold, some are single level ground floor apartments while some are more luxurious townhouse style units. Each apartment building in Stages One and Two has achieved an average six star energy rating, with future stages likely to achieve seven stars.

The Parkville Gardens development is being delivered by Village Park Consortium (a joint venture between Australand and Citta) in agreement with the State, whose interest is being managed by Major Projects Victoria.