This article is from the Australian Property Journal archive
JEFF Xu’s Golden Age has reached $35 million in off market sales for Floret, its second project in Glen Waverley, ahead of the development’s official launch.
Floret, located around 17km east of the Melbourne CBD at 583 Ferntree Gully Road, comprises 77 Rothlowman-designed townhouses, with an average price point ranging from $1.1m to $1.6m, well below the median suburb price of $1.57 million.
“We had a lot of buyers interested in our flagship Glen Waverley project, Sky Garden, but for whatever reason, an apartment doesn’t suit everyone’s preferences. Before even launching to market, we had a waitlist of buyers interested in a townhouse product, one that embodied the same ethos and design philosophy of Sky Garden,” said Jeff Xu, founder and managing director at Golden Age Group.
“Glen Waverley is an area predominantly dominated by single-family homes and there is little choice when it comes to townhomes, particularly architecturally-designed homes that offer a premium feel.”
Announced last year, the project includes a central open space spanning 1,000sqm designed by Aspect Studios., with an open lawn, walking track and facilities such as a fitness station, barbecue and picnic area, and a children’s play area.
“Glen Waverley is such a highly connected suburb and there is appetite for new developments that cater to not only downsizers but young professionals and young families who are priced out of this area. GlenWaverley is an aspirational area that has traditionally been unaffordable; we’re pioneering a product not typically seen here,” added Xu.
Xu also noted that while interest was strong amongst first home buyers and downsizers, investors have also been a proponent of the development, with one looking to purchase multiple townhomes for their portfolio.
“Existing townhouses in Glen Waverley are typically dual occupancy, or feature multiple homes on one lot with no amenities; Floret seeks to put the community at the heart with an array of resident amenities and gardens, located in a secure neighbourhood that is ideal for raising families,” said Xu.
