Elsternwick Gardens, VIC
8 Gordan Street, Elsternwick, VIC, 3185
Development of 180 high-end apartments located in the affluent south-eastern Melbourne suburb of Elsternwick.
Key Item
Value
Property Type
Land Size
Residential
11,740 sqm

In late 2024, Metrics was approached by an experienced private developer and their equity partners to provide additional equity funding to the project by way of entry to the joint venture. At that time, the existing JV had already substantial de-risked the development by obtaining planning approvals, presales, a fixed price construction contract and a construction funding offer from a major bank.

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The site 8km south-east of the Melbourne CBD and benefits from proximity to multiple modes of public transport, including train, tram and bus. The retail amenity of Glen Huntley Road is close by as well as the Caulfield Hospital and Caulfield Grammar.

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Purchasers benefit from direct private gated access to Rippon Lea Estate, a 19th century mansion surrounded by 5.7 hectares of gardens in the care of the National Trust. Additional amenity is provided via substantial private residential gardens, lounge, gym, studios, sauna, plunge pools and a ground floor café.

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The development comprises three separate offerings across six buildings with differing levels of design, fixtures and finishes. Staged releases have been used to further differentiate the product types.

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The product mix is weighted towards larger two and three bedroom product with owner-occupiers the main target demographic. A small percentage of one bedroom units designed for investors will also be delivered.

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The project has benefited from successful engagement with the local community, which resulted in a favourable planning outcome and also strong purchaser interest from the surrounding area.

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The builder has commenced on site with a target construction completion date of Q1 2027.

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