Reflections to mirror Rhodes successes
IRREPRESSIBLE veteran developer Harry Triguboff is poised to further lighten his holdings at Rhodes by selling off a third tranche of upgraded apartments in his last waterfront buildings in the suburb.
The 94 apartments are in two low- rise buildings that make up a project called Reflections – a premium address showcasing water views that can never be built out.
The apartments were completed in 2010 and, along with nearby projects Riverview and Aqua, were retained in the rental portfolio of Mr Triguboff’s Meriton group.
The 59 Riverview apartments were revitalised last year and sold out quickly, while Aqua was given similar treatment and all but nine of its 68 apartments have sold.
Mr Triguboff yesterday said that it was never Meriton’s plan to sell the prized waterfront buildings so quickly.
“With demand for this type of property so strong, we had no choice but to fast track these buildings on to the market.
The Reflection upgrade work is extensive and will include, LED downlights throughout, new kitchens with stainless-steel SMEG appliances and marble-inspired splashbacks, new bathrooms, plush carpets in bedrooms and large 450 by 900 marble-inspired porcelain tiles in living areas.
Most apartments have enclosed balconies and these balconies will also have the large tiles, providing bigger internal area for residents.
Mr Triguboff said buyers at Reflections would be getting very large apartments, the biggest in the area, at prices that were very enticing.
“Our apartments are being upgraded to a standard that makes them perfect for owner-occupiers and that brings handsome returns for investors.
“The views, which take in both water and parkland, are the icing on the Reflections cake.”
Mr Triguboff said the Reflections selloff, which offered buyers the last opportunity to buy on the riverfront, was a case of Meriton ‘saving the best for last’.
Rhodes, previously laced with factories, came into its own 15 years ago when major developers such as Meriton bought former industrial land.
A turning point for the suburb was 2005 when retailer Ikea opened what was the biggest homewares store in the southern hemisphere.
The Reflections site, at 44-46 Shoreline Drive, spans 4759sqm.
The seven and five-floor Reflections buildings, which sit above two levels of basement which include lock-up garages for many apartments, surround a private 3000sqm landscaped parkland.
Residents, who have direct access to the foreshore, have facilities that include a large heated indoor pool, gymnasium and spa.
The apartments come in one, two and three-bedroom layouts and their enclosed balconies extend living areas.
Reflections has a 24-hour security service.
Meriton is marketing the Reflections apartments, which range from 50 to 131sqm internally, at between $520,000 to $1.7 million.