OSK Property officially launches BLVD apartment in Melbourne Square with over 40% units taken-up

• Located along 19 Hoff Boulevard Street, BLVD is a 73-storey apartment development. It is part of the larger five-acre freehold mixed-use development called Melbourne Square, which has a gross development value (GDV) of A$2.8 billion (RM9 billion).

MELBOURNE (Oct 12): OSK Property and Employees Provident Fund (EPF) have officially launched the second phase of Melbourne Square called BLVD apartment on Thursday in Southbank of Melbourne, Australia.

Located along 19 Hoff Boulevard Street, BLVD is a 73-storey apartment development. It is part of the larger five-acre freehold mixed-use development called Melbourne Square, which has a gross development value (GDV) of A$2.8 billion (RM9 billion). The master developer is Yarra Park City Pty Ltd, a joint venture company between OSK Property — the property arm of OSK Holdings Bhd — and EPF.

At the official launch event of BLVD on Thursday, OSK Holdings group deputy managing director Ong Ju Xing revealed that the apartment, which was soft-launched in mid-April, has achieved a take-up rate of over 40%.

Spread across 0.6 acres, BLVD will comprise 591 units with built-ups ranging from 538  sq ft (square feet) to 1,905 sq ft, and selling prices starting from A$517,000 to A$3.2 million. Most floors will have 11 units, but levels 56 and above will only have six units on each floor. The tower has a GDV of RM2 billion and is slated for completion by 2026. It will also be the highest building in Melbourne Square.

Facilities in BLVD will be spread across Levels 8, 25, 55 and 56. Some of the facilities include an outdoor park, a 25-metre swimming pool, a spa and sauna, a gymnasium, a simulator room, a cinema, a karaoke room, lounges, dining rooms, kitchen facilities and co-working spaces among others.

In his opening speech at the launching event, OSK Holdings group managing director Ong Ju Yan said that the design and layout of the units in BLVD have been carefully planned with consultants. “We are taking into consideration the needs of homebuyers and investors [as well as] drawing from our experience and learnings in phase one.”

“We are now in the midst of the tender process for BLVD and we have four reputable builders or contractors tendering. Hence, we are quite confident to break ground and start construction in 1Q2024,” Ju Yan said.

In efforts to build a more sustainable development, Ju Yan said the developer will be applying for a WELL certification, taking into consideration the green features provided in the apartment. BLVD will be a gas-free building with improved insulation in walls and ceilings to provide better air, lighting and thermal comfort, as well as have electric vehicle charging stations among others.

Providing updates on the first phase of Melbourne Square, called MSQ, Ju Yan said most units have been sold to local and foreign buyers. Currently, it has about 50 unsold units.

Completed in 1Q2021, MSQ comprises 1,054 apartments, a 6,100 sq m retail space and a one-acre park named Kennedy Park. The anchor tenant of the retail space is Woolworths supermarket, occupying 4,100 sq m across two storeys. Other tenants include Nido Early School, BWS, Asian grocery stores, a Malaysian restaurant and a cafe among others.

Meanwhile, Ju Yan also announced at the event that Yarra Park City will be building a basketball court in collaboration with the Melbourne City Council.

Ju Xing added that once the court is built, the council will ensure that it is managed and maintained well for public use. This effort, he believes, will promote better placemaking for the Southbank neighbourhood and the city of Melbourne.

Besides Melbourne Square, Ju Yan revealed that Yarra Park City is working on growing its presence in Melbourne. “We have acquired about two acres of land in Southbank, consisting of two adjoining sites, for an estimated A$97 million. The first site at Queensbridge Street is an office space, while the site on 190 City Road used to be a data centre.”

The developer is looking to turn both sites into residential towers with a few retail lots on the ground floor, while maintaining some of their frontage or exterior, as they are listed as heritage buildings.

OSK Property Holdings is one of EdgeProp START’s strategic partners. ANYA at Shorea Park and Rubica @ Harbour Place are two developments highlighted in this partnership.

OSK Property Holdings homebuyers also get to enjoy rewards worth up to RM3,888 and stand a chance to win a set of JBL Bar 1300 speakers worth RM7,999 when you sign up on EdgeProp START from now till Dec 31.

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