Design-savvy buyers flock to one of this year’s most eye-catching projects
MAB’s most recently completed residential building, Elm & Stone, is bucking the national trend as demand soars for the few remaining completed apartments. Excited residents started moving in two weeks ago and over 90 per cent of the building is expected to be settled by the end of April.
Developed by MAB, Elm & Stone pioneers a new breed of apartments for the development powerhouse led by Andrew and Michael Buxton. The apartments feature concrete ceilings, feature wall lights, pendants and sleek metal details. MAB’s designs for Elm & Stone, and their current project Escala, unashamedly play to a young design savvy crowd. Elm & Stone would be right at home in residential hotspots Fitzroy or Darlinghurst.
Elm & Stone is bursting with new greenery, with two communal garden levels, green walls and apartments which integrate private planter boxes on the balconies. This has brought unexpected joy to new residents. According to Helen Grieger, MAB’s Customer Relations Manager, “One of our customers was really taken aback during his inspection because he was just so thrilled that it had fresh herbs growing on the balcony.”
The hallmark of Elm & Stone is the spectacular loft apartments with double-height living spaces and flexible mezzanine zones. “This product is unique to MAB, starting with Elm & Stone and now Escala, NewQuay Docklands. We wish we had twice the amount of this type of apartment,” says David Allt-Graham, MAB General Manager Residential.
MAB’s approach to Elm & Stone reflects the maturing and growing sophistication of NewQuay. The precinct is bursting with variety and new conveniences supported by rapid upgrades to the neighbouring District Docklands shopping centre — which includes a new 8-screen Hoyts cinema complex and dining facilities.
From the Elm & Stone apartment balconies fronting Docklands Drive, a new full-line Woolworths and fresh food market can be seen receiving its final touches from the builder. ‘Market Lane’ opens in late 2019 and is modelled on the famous Chelsea Markets in New York. Next door, the new Docklands Primary School is rising out of the ground and will be ready for an intake of students in 2020.
Beyond 2019, investment in the Docklands continues to accelerate with a major redevelopment of Marvel Stadium in 2022. Look out for the elevated 2.5km veloway (bike freeway) which will be the centrepiece of Melbourne’s bicycle network.
The amenity of NewQuay is a drawcard for city working professionals who crave city life without the crowds and traffic. Lucas Real Estate reported over 400 confirmed attendees for 15 apartments offered for rent at Elm & Stone.
“The tenant response was amazing and the first open for inspection really blew us away,” reported Dylan Emmett, Director of Lucas Real Estate. “We certainly weren’t expecting the queues that formed around the building and needless to say, our landlords and new residents in the building are all very happy.”
Of Elm & Stone’s original 144 apartments, only 15 remain available for sale. Four of these have sold in a matter of weeks.
“Seeing the finished product in Elm & Stone really speaks for itself — it feels good and is a stand-out building in our market,” said Emmett.
Elm & Stone’s remaining apartments have been crafted by award-winning studio, DKO Architecture, and start from an attractive price point of $640,000 for a 2 bedroom configuration. These apartments can be inspected today but don’t expect them to be on offer for long.
Buyers who have attended many property inspections and think they’ve seen it all — be warned! Elm & Stone is different, in a good way.
Originally published in Apartment Developments 14 April 2019.