Living Prahran

Each week, ApartmentDevelopments.com.au will be focusing on a new section of Melbourne, sections that define both culture and lifestyle.

Prahran, one of Melbourne’s most iconic suburbs, is only moments from Chapel St, and a tram ride away from the city. Happily situated in a location that has access to everything Melbourne has to offer, this area of town is steadily on the rise.

In terms of investment, Prahran’s median price for 2 bedroom apartments last year was $560,000, compared to that of 5 years earlier where the median apartment sales price for a 2 bedroom apartment increased by 21.7%. Surrounded by suburbs such as South Yarra, where the median apartment price is well above $610,000, Prahran is continually re-enforcing itself as an ‘it’ suburb of Melbourne.

“with high ceilings and large expanses of timber floor opening onto lush outdoor spaces, the apartments have great proportions and flow” - Nick Bayley, Bayleyward Architects

“So far we have had purchasers that are majority owner occupiers mainly due to the scale of the development and its location. Also, each of the 18 apartments are unique and different, giving people a sense they are not just living in a stock standard apartment development, but their own home” - Ben McKie - Development Manager PDSgroup.

Specifically, the Newry Lane development in Prahran is really catching attention and momentum. Located “just around the corner” from many amenities including Victoria Gardens, Hawksburn Village, Chapel St and the High St precinct, these locations offer great restaurants, bars, shopping strips and open space areas that are all within close proximity of the development. Each apartment is equipped with state-of-the-art Smeg appliances that are equipped with celever joinery that creates space and storage that is required for inner-city living.

“each apartment has been conceived as a unique space flooded with daylight which accentuates the sophisticated finishes and fine detail” - Nick Bayley, Bayleyward Architects.

Developed by BuxtonGroup and PDSgroup, and designed by the BayleyWard Architects, Newry Lane can be seen on ApartmentDevelopments.com.au here