Melbourne, Dandenong, Off-Plan apartments

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Melbourne, Dandenong, Off-Plan apartments

  • Entry level price point: $280k-$480k
  • Melbourne “Second City” revitalisation
  • Iconic 17 storey building with great views
  • SMSF eligible
  • Stamp duty saving $19k – $24k

LOCATION OVERVIEW

Dandenong is located approximately 35 km south east of the Melbourne CBD and about 10 km from Port Phillip Bay.

The Dandenong catchment area’s population of 230k is expected to grow significantly over the next 20 years, averaging an annual growth rate of 1.3%.

Dandenong is being revitalised as “Melbourne’s Second City” with infrastructure spending exceeding $1 billion from federal, state and local government, as well as the private sector. This is driving population growth and employment opportunities. (There are similarities with Parramatta in Sydney, and the Ipswich region of Brisbane.)

Dandenong residents are culturally diverse, of a young age profile and tend to rent rather than buy with almost half of all residents living in an apartment. With the revitalisation of Dandenong underway and the strong population growth, it is anticipated that over the next 20 years demand for affordable apartments will continue to grow.

More information on the suburb of Dandenong is in the Dandenong Location Report (link).

SPECTRA APARTMENTS

A symbol of Dandenong’s change is the new development of Spectra Apartments.

Spectra is ideally located in the heart of the Comprehensive Development Zone where significant major development projects have been taking place. Spectra’s residents will be able to take full advantage of the enhancements which have been made to central Dandenong’s retail, hospitality & business precincts, activity centres, and urban transit facilities. Residents will have easy access to a range of shops, cafes, restaurants and public transport via the recently refurbished train station and bus exchange. The central location is shown in this Spectra Aerial (PDF).

Rising 17 storeys above street level, Spectra will be the tallest residential building in Dandenong and, apart from spectacular views, will give residents easy access to a revitalised central precinct which is a vibrant mix of cafes, shops, cultural diversity and lifestyle amenities.

The Spectra Residential Apartment Tower will offer a total of 96 superbly designed apartments over 12 levels, plus retail and office space and 5 levels of car parking. All apartments will have storage cages. Two bed apartments will have parking. Finishes are very good including air con and Bosch appliances. An overview is provided in this Spectra Video (link 118MB) There will be twelve apartments per floor – for details please refer to the table below.

Beds

2
1
2
2
2
2
1
2

Car

1
0
1
1
1
1
0
1

Internal m2

76
52
65
74
74
68
52
76
Exernal m2

9-10
7
13
8-10
8-10
13
7
9-10
Price

$420k-$465k
$280k-$310k
$380k-$430k
$415k-$465k
$420k-$470k
$385k-$435k
$280k-$320k
$430k-$480k
Rent pw

$360 – $400
$256 – $290
$290 – $330
$350 – $370
$350 – $370
$290 – $330
$265 – $290
$360 – $400
There will be stamp duty savings for early purchasers of $19k-24k.

Annual outgoings are estimated to be $2k-3k for strata, and $0.9-$1,2k for council rates.

For sample cash flows:

Please refer to this Spectra Brochure (PDF) or further information including:

  • View lines
  • Proximity to amenities
  • Floor Plates
  • FloorPlans
  • Internal Finishes
  • Depreciation Schedule
  • Developer & Architect background

Spectra Pricing Schedule (PDF)

Availability is changing all the time and prices are subject to change. Please contact Compass Capital for assistance to select the best value apartments.