Geelong's first high rise apartments are going up
Construction has commenced on Geelong’s most prestigious new apartment high-rise, The Mercer. The elegant Peddle Thorp-designed 15-storey building is spearheading a wave of high-rise apartments driving major change to inner-urban Geelong.
Site preparations have been completed, including demolition of the former display suite, at the prime Western Beach location on the corner of Mercer and Malone streets - just metres from the bay’s sea of masts, jetties, cliff-top promenades and harbourside cafes and restaurants.
Family-owned construction business Maxcon Constructions has been appointed to bring the project to fruition. Maxcon has credentials in high-rise apartment projects including Adelaide’s tallest residential tower, Realm Apartments and Melbourne’s tallest suburban tower, Whitehorse Tower (The Chen Residences) in Box Hill.
Maxcon Director Anthony Elzain said Maxcon has completed a number of projects of this nature across Australia and has recognised the potential in Geelong. “We are thrilled to commence our first Geelong-based project and look forward to building relationships with local trades for other projects we have in the pipeline.” said Mr Elzain.
The Mercer has one, two, three and four-bedroom apartment and penthouse residences with broad terraces and cantilevered balconies to capture bay and city views. Its features include floor-to-ceiling windows, warm timber floorboards, wool-fibre carpets, stone surfaces and European Miele appliances.
In addition, there’s a private lobby, lifestyle manager, onsite ground level retail, over 500m2 podium level water-view resident garden and gym, secure basement parking and lift access to all levels.
The Mercer, now 90% sold, appeals to a new breed of regional professionals, downsizers and canny investors looking for a happy mix of affordability, lifestyle, ready employment and access to daily conveniences including rail to Melbourne.
Underpinning the city’s evolution into one of Australia’s most popular regional residential, employment and investment destinations is the market price advantage. Geelong’s median house and unit/apartment prices in the REIV March quarter data were $520,000 and $390,000, sharply contrasting Melbourne’s respective $855,000 and $607,000.
Not surprisingly, the apartment market is emerging in significant fashion with well-designed, waterfront-hugging developments that would be the pride of bayside precincts anywhere in Australia.
Oliver Hume’s national head of research George Bougias, says Geelong, as an established city, presents “a rare combination of new development opportunities, character and a sense of place.”
“It presents a unique lifestyle offering driven by a range of special features and advantages, for example, the Geelong waterfront and nearby Surf Coast.
“It offers easy access to a major metropolitan area, Melbourne, which is expected to experience one of the fastest rates of population growth when compared to many other cities in advanced economies.” said Mr Bougias.
Developer Matthew Sun, originally from Shanghai, has lived in Geelong for 25 years and says it’s a special place to live, with glorious natural assets like Bells Beach and the Great Ocean Road on the doorstep.
“In my opinion Geelong will be the boom town in Victoria for the next decade and I’m so excited to watch The Mercer take shape on the city skyline.” said Mr Sun.
Opportunities at The Mercer are limited with only 14 apartments remaining. Construction will be completed in the Spring of 2019.
The Mercer Sales Office is now operating from 51 Mercer Street.
More information: themercer.com.au
Image: Artist impression of The Mercer overlooking Geelong waterfront