Buyers have rushed to purchase 90 per cent of the latest release at the master planned Mason Point apartment and townhome development in South Morang following the sell out success of the first two stages.
Developed by Gibson Property Corporation (GPC) and Roche Property Group (RPG), the development's townhomes are now 100 per cent sold out and only five apartments remain. A builder has also been appointed and construction is scheduled to commence on August 1.
“Due to the excellent return and yields in previous releases, we have seen many of our clients reinvest in Release 3," said Charles Gibson of GPC. “Recently, there has been considerable discussion suggesting that the inner Melbourne apartment market is oversupplied. However, due to the location, size, amenity and affordable product within Mason Point, we are confident of solid further growth.”
Designed by Jackson Clements Burrows Architects, the Mason Point development consists of two and three bedroom apartments and two bedroom townhomes. Internal floor spaces range from 75 to 99 square metres for the apartments and 128 to 139 square metres for the townhomes. Release 3 also offers large apartment balconies of up to 39 square metres.
“Mason Point’s master plan has come to life and the vision is now over 50 per cent complete. We have a Kool Kidz child care centre, a medical practice and café, along with many more businesses complementing the Mason Point development," Mr Gibson said.
Mason Point is just 200 metres from Westfield Plenty Valley and 800 metres from the South Morang Train Station. The Melbourne CBD is easily accessible via major arterials such as the Metropolitan Ring Road and Plenty Road.