Growland aims for local buyers as Victoria Square’s second Stage is launched

PUBLICATION: Urban Melbourne
AUTHOR: Mark Baljak

On the back of selling 90% of apartments within the first Victoria Square tower, developer Growland has launched the second stage of the development located in Footscray’s Joseph Road Precinct.

Growland will now pursue the local owner-occupier market even more vigorously in order to account for the bulk of the second tower’s sales, having noted a decline in foreign buyer interest of late. The newly released tower has been dubbed VS02 and will include 168 apartments, spanning levels 4 to 21.

This refocusing on the local buyer has seen a diverse number of floorplates and design options made available across VS02; the strategy allows the tower to be an attractive option for as many potential buyers as possible. Growland has also begun single bedroom apartment internals within VS02 from 61sqm, a considerably large size in relation to many other Melbourne apartment projects.

WHAT THEY SAY

Interest from foreign buyers is slowing due to regulatory changes, so the market has adapted to meet the preferences of the local owner-occupier market, which is quickly gaining in strength. There are many aspects of a project that need special attention to cater to this demographic. Quality, diversity, and flexibility are crucial.

The scale of Victoria Square and VS02 means we can offer a significantly diverse range of residences. While Victoria Square is fantastic for young professionals, couples, and first-home buyers, there is a large range of larger apartments that are also perfect for young families.

This gives it a unique position in the market place: it will be a truly integrated community in Footscray.

Ronald Chan, CEO, Growland

> Click here for the full article.