Capitol Grand South Yarra appoints Multiplex - Construction starts today
16 January 2017
Multiplex:
TLK
Property Group today announced that it has appointed leading global
contractor Multiplex as its construction partner for the six-star
integrated retail and residential
Capitol Grand South Yarra development.
Executive Chairman of LK Property Group Larry Kestelman said he was
excited to announce Multiplex as a construction partner for the iconic
luxury project with construction to commence immediately.
“Construction on Capitol Grand South Yarra will commence today. In just
12 months since going to market this development has broken every record
in the luxury
apartment market for the volume of property sold. Now, we are
excited to announce our partnership with Multiplex and commence
construction,” he said.
Mr Kestelman said the partnership with Multiplex continued LK Property
Group’s commitment to partner with the best Australian talent to deliver
Melbourne a truly international building befitting of the city’s
global status.
“I’m a proud Melbournian and proud of our talent in this city so I
bought the best team together including renowned architect Roger Poole
at
Bates Smart and leading landscape designer Jack Merlo to showcase
Australian design and creativity. Now, we add Multiplex, another
Australian success story, to the Capitol Grand South Yarra family,” he
said.
Multiplex Regional Managing Director,
Victoria, Graham Cottam said: “We are delighted to be appointed to
deliver Capitol Grand for LK Property Group. We have vast experience in
building high-rise residential towers in the busy CBD environment. Some
of our recent completions include Bella Apartments, Platinum Tower,
Southbank Grand Apartments and Southbank Central Apartments.”
Capitol Grand South Yarra has led the Melbourne luxury sales market with
over $350 million of apartments sold since the development went on sale
the same time last year.
Currently 70 per cent sold, the development featuring Oscar-winner
Charlize Theron as ‘The Face of Capitol Grand’ is located on the
prestigious site at the corner of Toorak Road and Chapel Street South
Yarra, and is the only development to succeed on the former Capitol
Bakeries site despite many false starts.
Capitol Grand South Yarra selling agent Christian Numa, Principal of
Amity Real Estate, said that 60 per cent of apartments sold for Capitol
Grand have been over the $1million mark, with 23 per cent of these over
the $2 million mark with the stamp duty savings attractive to buyers.
“Capitol Grand has certainly proved that the luxury property market is
strong, and there are still opportunities to save significantly on stamp
duty by purchasing off the plan,” he said.
CAPITOL GRAND SALES FIGURES – MARKET ANNOUNCEMENT
- Over $350 million sold in
just over 12 months
- Over 100 apartments sold
since June-2016
- 70% of apartments sold in
just over 12 months
- 60% of apartments sold
have been over $1 million and 23% of these have been over $2 million
ABOUT CAPITOL GRAND
Spread over two towers linked by a high-end retail precinct, Capitol
Grand South Yarra’s LK Tower reaching to level 50 will have a private
entrance on Almeida Crescent, with the smaller Capitol Grand Tower
fronting Toorak Road. Buyers will have access to six-star facilities not
often seen in Australian residential living including two
architecturally designed swimming pools with upper level LK Tower
residents having access to an infinity pool and gym with 360-degree
views of Melbourne and entertaining rooms.
All residents will be able to enjoy facilities known as ‘The Deck’ where
Jack Merlo designed gardens feature private cabanas and entertainment
areas, as well as a private lounge. Theatre rooms, chef-style kitchens
for private catering, and spa treatment rooms are also key features.
Capitol Grand’s retail precinct will begin trading in early 2019 at the
same time the first residents move into the smaller Capitol Grand Tower.
The entire project is planned for completion by end of 2019.
--ENDS--
Source: Multiplex - www.multiplex.global
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