This article is from the Australian Property Journal archive
MELBOURNE-based ICD Property and China's state owned developer Sino-Ocean Land have sold all 634 apartments at its 64-storey Eq. Tower, in less than eight months, becoming one of the fastest selling projects.
The 196m high development at 127-141 A’Beckett St had only received the greenlight from Planning Minister Matthew Guy in February this year.
ICD Property’s development manager Matthew Khoo said Eq. Tower sold over 84% of its apartments in just two months during the project’s short pre-sale period, with strong interest recorded from both the local and international markets.
“Our intention with Eq. Tower has been clear from the outset – to create a building that would redefine the way residents interact with their surroundings by delivering a strong sense of architecture, community and integrated vertical living.
“To sell out every single one of our 634 apartments in just eight months is absolutely phenomenal, it says to us that we have read the market right and delivered what the market was looking for,” Khoo said.
Colliers International managed the project’s sales. Residential sales director Brett Griffith said Eq. Tower was one of the fastest selling CBD projects his team had ever worked on.
“We launched Eq. Tower February 2014 which was well received by agents and purchasers across Melbourne, interstate and offshore.
“Through a collaborative approach with the ICD Property project team and their consultants, we were able to create a product that exceeded consumer expectations to become what we believe will be a residential landmark for Melbourne,” he said.
Site demolition is set to commence mid-November with the building’s completion scheduled for mid-2017.
Australian Property Journal
