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New York Loft Inspired Residences Snapped Up In Preston

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Located only 10km from the Melbourne CBD, Preston has seen sold over 75% of apartments in the suburb’s newest project, Precinct 154.

Showcasing sleek design elements and convenient suburban living across 38 one and two bedroom apartments, Precinct 154 draws inspiration from the Manhattan loft style with exposed concrete, high ceilings and floor to ceiling windows.

MH Property Director Michael Hristovski said the project has been popular with young professionals who are looking to capitalise on the evolving suburb.

“Since launching to market earlier this year, all one-bedroom apartments within Precinct 154 have been snapped up by professional couples and investors who either work in the nearby vicinity, or have kept a close eye on the suburbs growth,” he said.

Boasting a walk score of 73, Preston has experienced continued growth over the past few years, with a significant jump in the past year with apartment prices increasing nearly 5.5% and house prices jumping 9.3%, according to data sourced from Corelogic.

Located at the Thornbury end of High Street, Precinct 154 connects residences to a number of nearby amenities, as well as offering residents a shopping or dining experience on site with a ground-floor retail space.

“High Street in Preston is renowned for its vibrant lifestyle scene; it has the highly publicised Food Truck Park and a selection of great eateries including Asian delicacies through to non-traditional American BBQ cuisine such as Dexter Burger.

“Preston is an area that is forecast to continue to increase in value over the years and has excellent proximity to the CBD while maintaining the suburban feel that a lot of Melburnians are looking for,” Mr Hristovski said.

With construction scheduled for completion in the second quarter of 2017, a selection of two-bedroom apartments with stamp duty savings remain, priced from $500,000.

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Article originally posted at: https://https://theurbandeveloper.com/articles/new-york-loft-inspired-residences-snapped-preston