The developer has secured the site next door to the Elster Project and can use the infrastructure being created by that project to reduce cost and increase the yield on this site. The project plan is to closely mirror The Elster Design and build 3 luxury Townhouses between 270m2 and 330m2 in size, in one of Melbourne’s prime beachfront locations.
By sharing a basement with the Elster, this development will not require it’s own driveway which allows more sellable space to increase the project value.
Elwood is a coastal suburb located 8 kilometres south of Melbourne’s CBD; a blue-chip area with the median house price value well above $2 million and land prices around $3,000 per square metre.
Elwood’s ‘Golden Mile’, which this development is located within, is highly sought after for its close proximity to the beach and Elwood Shopping Village.
Project Gallery
Site: Settled
Stage: Pre-Construction
| Permit Status | Application Pending |
| Zone | RZ1 – General Residential Zone – Schedule 1 |
| Site Size | 721m2 |
| Dwellings | 3 x 270-330m2 Townhouses |
| Project Value | $17,000,000 |
| Investment Amount | $4,500,000 |
| Project Duration | 29 months |
