The Marker @ 512-544 Spencer St, WEST MELBOURNE, Victoria, Australia. 3003
The Marker (Stanley & Spencer Edition) is a mixed use development by joint venture patrners City Development Limited, Lechte Corporation and Crema Group, situated in the heart of the West Melbourne Structure Plan within the central Spencer precinct.
The 4,246 sqm site occupies a prime corner position with three street frontages on the northern side of Spencer Street between Roden Street and Stanley Street. Comprising 195 Residential Apartments (with a mix of 1 to 3 Bedroom) and 5 Retail spaces.
The Marker Location
The Marker (Stanley & Spencer Edition) development is positioned at Spencer Street in the Spencer Precinct, just one of the 5 precincts, that is in the midst of transformation to a genuine 20-minute liveable neighbour, identified under the West Melbourne Structure Plan using a placed-based approach.
The other 4 precincts identifed are Flagstaff, Adderley, Station Precinct and Historic Hilltop, each with their own unique character and qualities. The West Melbourne Structure Plan will ensure the area’s unique character and heritage are retained as it evolves into among Melbourne’s unique inner urban neighbourhoods.
The Marker Facilities
The Spencer Street, as the spine of the whole precinct, is comprised of several stores, offices, and local pubs and is set to become the boulevard of mixed uses, including shops, cafes and restaurants; local businesses, public realm design for pedestrians, cyclists and public transport.
The Architecture embraces heritage and modern convenience with a mid-rsie 8 level design scaled to connect with the established residential character of West Melbourne, while a timeless facade also becomes the face of a pulsing brand-new precinct. Adeptly balancing built form and green landscapes, the storied, residential elements units around central gardens.
The Marker Project Details
|Developer :||Spencer West Melbourne Pty Ltd
(JV: City Development Limited, Lechte Corporation & Crema)
|Location :||512-544 Spencer St, West Melbourne, VIC 3003, Australia|
|Site Area :||4,246 sqm|
|Expected T.O.P. (Completion) :||Est. Q2 2021|
|Total Number of Units :||195 Residential | 5 Commercial Shops|
|Unit Mix :||1 Bedroom : 85 units
2 Bedroom : 97 units
3 Bedroom : 13 units
|Total Number of Car Park Space :||Total 280 units
Residents – 202 lots
Retail – 8 lots
Supermarket – 65 lots
Visitors – 5 lots
|Architect :||Plus Architecture|
Reasons to Buy The Marker?
- Current Aussie Dollar weakness open great opportunity to invest in Melbourne, Most Liveable City at much lower cost.
- Low downpayment – 10% to secure a unit and balance 90% upon completion
- First JV Development by reputed CDL (Singpaore Listed Developer), Lechte and Crema Group in the Heart of Melbourne.
- Located in fast growth precincts under the West Melbourne Restructure Plan.
- Doorstep access to essential amenities – Spencer Street, a local high street with retail shops, cafe and restuarants.
- Well connected – minutes walk to North Melbourne and Flagstaff Train Stations.
- Close proximity to Melbourne CBD (within 7 mins drive).
- Close proximity to Top Universities – Melburne University, RMIT and many other City Campuses.
- Potential High Rental Yield of 4.58% per annum in Melbournce (source: Domain).
- Attractively price from $475K for a 1 Bedroom apartment with deferred payment.