M-City Stage 1 almost sells out in two weeks

M-City Stage 1 almost sells out in two weeks

After just two weekends on the market, mixed-use M-City project sold an impressive 174 of 176 apartments.

Managing Director Victoria at CBRE, Andrew Leoncelli, dubbed M-City’s vast amount of interest and rapid success “Amazing...I’ve never seen a response like it.”

Driving some of the success was the M-City feature on Apartment Developments. By advertising in a highly relevant digital space, M-City positioned themselves intelligently and profited as a result – 7 of the sales were generated directly through Apartment Developments.

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More and more, buyers are discovering and registering interest in real estate online. Projects like M-City that generate targeted exposure for their apartments through listing on niche websites like Apartment Developments (which focuses solely on off the plan developments) are leveraging digital to the best effect.

Katie Healey, Marketing Manager at CBRE, commented on their digital campaigns’ success saying, “There were hundreds of groups through on the opening weekend. It was an enormous result that no one ever expected.”

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All 176 of M-City’s apartments now belong to the savvy buyers who saw great value in M-City, not just for its beautiful apartments but for the amenities that would benefit living in the complex. This success comes as a wave of new mixed-use residential and retail developments are emerging around Melbourne, tapping into the modern Australian’s desire and growing expectation for ultimate accessibility.

Once built, M-City residents will be connected to 60 specialty stores including Woolworths, K-Mart, a fresh food market, restaurants, childcare, premium workspaces and a hotel. Residents will enjoy a range of leisure and entertainment features including a pool, gardens, a tennis court, a BBQ and fire pit and a cinema. The array of health features include a state-of-the-art fitness centre, pharmacy and medical suite.

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CBRE’s Leoncelli put M-City’s extraordinary popularity down to this multitude of benefits, explaining, “The buyers loved the amenities, the cinema complex, the fact that they can work here in the office space.” He confirmed that these ‘daily conveniences’ were a huge driving force for the sales.

It is clear that the luxury of having everything you could possibly need in such immediate proximity is driving huge demand in today’s property market.

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Stage 2 of M-City’s push to market will launch this month with 178 additional apartments. The one bedroom apartments start at $329,820 and two bedrooms at $432,100. Due to overwhelming interest, enquiries are already being taken now. The expectation is that this second stage will sell out just as fast as the first.