This article is from the Australian Property Journal archive
CEDAR Woods is launching its Hewitt Apartments development in the $2.5 billion Williams Landing masterplanned community, reflecting ongoing confidence in Melbourne’s western growth corridor.
Located in Williams Landing, around 19km south west of the Melbourne CBD, residences at Hewitt Apartments will comprise one- and two-bedroom DKO Architecture-designed open plan apartments across five levels.
“It is evident there is growing popularity for apartments in Williams Landing from buyers who are aware of all the advantages that living in a masterplanned community with amenity of the western suburbs brings,” said Patrick Archer, COO of Cedar Woods.
The 275-hectare Williams Landing community will upon completion comprise a residence mix of traditional lots, terraces, semi-detached townhomes and apartments.
This latest release follows Cedar Wood’s successful release of Lincoln Apartments and Bennett’s Row, also in the masterplanned community, with the group also acquiring sites in the western growth corridor in August last year for a combined $63.5 million.
“We are proud to launch our Hewitt Apartments which offer low-rise suburban living and have been carefully designed to maximise functionality and versatility without compromising on their distinctly modern sense of style,” added Archer.
The west of Melbourne is experiencing the fastest rate of growth in the country, with the region anticipating 1.1 million residents by 2031, up from the current population of around 700,000.
Cedar Woods’ latest release will also benefit from the growing median apartment price in Williams Landing, which according to Urbis has increased by 5.2% each year since 2016.
While in 2021, the median price of apartments hit $450,000, for an increase of 9.1% on the previous year, with rental yield also up 4.1% in 2021, a full percentage point above the yield for the greater Melbourne area.
Hewitt Apartments will also boast close proximity to the community’s 50-hectare town centre, as well as parks, trails and open spaces, with transport links including express train service from Williams Landing Train Station to Melbourne’s Southern Cross Station and direct freeway access to both Melbourne and Geelong via the Princess Freeway.
