MAB Corporation to release Harbour One residential tower at Docklands amidst low vacancy rates.

MAB Corporation is set to release Harbour One (H1) – a major new residential development for the Docklands precinct. With current vacancy rates in Melbourne’s residential market at historic lows and rates of less than 1.5% at Docklands, H1 is the first residential tower from MAB in five years and follows the launch of MAB Corporation’s long awaited Avenues development at Docklands, a selection of multi million dollar waterfront and park front townhouses.

Innovatively designed, 22 level, north/south facing residential tower, H1 offers a million dollar lifestyle at affordable prices with sweeping views of Victoria Harbour, the stunning, soon-to-be-opened Waterfront City “Southern Star” and Melbourne’s skyline.

Located on the corner of Harbour Esplanade and Docklands Drive NewQuay, the magnificent H1 tower draws inspiration from the ebb and flow of its unique Docklands setting. Principal architect, Ian Briggs of Plus Architects has created a considered and reflective design that features bold wave and water motifs throughout, most evident in the fluid ribbon detail that wraps around the building exterior.

Due for completion by mid 2011, H1 offers approx 300 apartments ranging in price from an affordable $395K up to $950K. Each apartment comes complete with a 5-star ESD rating, car parking and offers easy access to the CBD and a wide variety of local waterfront amenities at NewQuay including the private marina, award-winning restaurants, cafes, shops, public transport and the neighbouring Telstra Dome. In addition, purchasers will have exclusive access to features such as the supper club, library and gym. Residents will be able to host their own exclusive dinner parties in the supper club, wine and recline in the comfort of a well-appointed library, or head to the gym for their daily workout.

H1 offers buyers a selection of 1 and 2 bedroom apartments, with two contemporary interior design options – ‘House’ and ‘Classic’. The ‘Classic’ apartment is articulated in clean soft lines, allowing buyers the flexibility to overlay their own individual style. ‘House’ presents buyers with a dramatic, dark palette and a sophisticated urban interior option.

The H1 tower design extends to include unique urban living features such as the supper club, library and gym. Residents will be able to host their own exclusive dinner parties in the supper club, wine and recline in the comfort of a well-appointed library, or head to the gym for their daily workout.

MAB Corporation has earned an enviable reputation for delivering high quality, highly sought after developments in the Docklands. “There is significant pent-up demand for quality apartments in Docklands for both owner occupiers and investors. With the current dramatic under supply of residential property and Melbourne’s population growth continuing unabated, Docklands is experiencing high investor and rental demand, said Guy Pahor, Chief Operating Officer, MAB Corporation. “H1 presents a ‘keystone’ investment opportunity into Melbourne’s increasingly tight rental market and a great entry point to waterfront living on the edge of Melbourne’s CBD. Given the fundamental under-supply of rental accommodation in Melbourne, coupled with falling interest rates and a volatile share market, an investment in H1 provides an opportunity to invest in an iconic new development in Melbourne’s established Docklands neighbourhood.”

With H1 and more projects coming on line in March 2009, MAB is ensuring the Docklands includes a range of high, low and medium density developments to encourage diversity in the growing community.