Capitol Grand: 6 star lifestyle destination
- Hollywood stars
- Developed by an Internet Millionaire BRW Rich lister
- World Class architects
- 6 star lifestyle destination
The details sound like something out of the Donald Trump playbook however, Capitol Grand is being developed in South Yarra, Melbourne by LK property group. LK property group is run by BRW rich lister Larry Kestelman.
The development which was launched during the grand prix by Hollywood glamour actress Charlize Theron features opulence to rival developments in global financial hubs like London or New York.
The development includes Capitol Grand, featuring three levels of luxury retail coupled with a collection of classy residences, and the spectacular curved LK Tower.
Capitol Grand residences will feature impeccable design, floor-to-ceiling windows, generous light-filled spaces and gorgeous surfaces. All will be finished with superior materials, and feature European fixtures, high-quality appliances, a state-of-the-art gymnasium and lap pool, and an architecturally-designed infinity pool. Residents will also enjoy the seamless service provided by Capitol Grand’s 24-hour concierge.
The developer has secured $350 million worth of sales which represents around 70% of the project’s end value.
“The most interesting statistic is that 90 per cent of all sales have been to owner-occupiers. It shows Melburnians are craving luxury apartment living,” said Mr Kestelman who founded internet firm Dodo.
When you are doing something so different with a luxury aspect, you need to get a bit of cut through. [Charlize Theron] definitely helped get people to take notice of what we are doing,” he said.
Mr Kestelman dismissed talk of oversupply of apartments in Melbourne and said he was not worried about settlement risk unless there was a “catastrophic event”.
“In my 25 years of developing apartments, there’s never been an oversupply of the right product in the right location.
Multiplex has been appointed to build Capitol Grand and it has an estimated opening date during 2019.
Quotes from AFR.com
Location: Corner of Chapel St and Toorak Rd, South Yarra
Developer: LK Property Group – www.lkproperty.com.au/
Architect: Bates Smart – https://www.batessmart.com/
Development: 500 apartments + 5500 square metre retail arcade
Project Website: http://capitolgrand.com/
LK Property Group | Capitol Grand | off the plan apartments