As more Melbourne homeowners embrace the growing trend of downsizing, the demand for luxurious, low-maintenance properties continues to rise.
There are approximately 149,000 downsizers in Australia, according to Nielsen’s Consumer and Media View 2024, highlighting a growing trend in downsizing among Australian homeowners.
With demand for premium homes that cater to empty nesters, retirees and professionals expected to increase, the newly released YarraBend Signature Club Penthouses in Alphington by Glenvill Developments have been designed to meet the market’s needs.
For many in this stage of life, the benefits of downsizing are hard to ignore, offering greater financial flexibility, reduced maintenance burdens and the opportunity to enjoy a simpler lifestyle closer to urban conveniences.
Glenvill Developments’ Director of Sales and Marketing, Sam Tucker, says more than anything downsizers are seeking more freedom in their lifestyles.
“YarraBend offers the best of every world and it’s where nature meets the city,” he says.
In addition to ease of living, location is key for many downsizers. Proximity to amenities, public transport and green spaces, all while staying close to the city, is becoming a significant factor in choosing a new home.
“With 300m of river frontage overlooking Kew, YarraBend is located on the fringe of the city where residents can ride along the banks of the river and within 20 minutes be in the CBD. They can also choose to catch the bus from their doorstep and enjoy the priority bus lane in peak hour to reach the city within 10 minutes,” Tucker says.
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The Signature Club Penthouses are designed to take full advantage of YarraBend’s 300m of river frontage.
City style surrounded by nature
When it comes to downsizing, many homeowners are seeking properties that deliver a combination of luxury finishes and functionality.
Features like spacious interiors, premium finishes, access to health and wellness facilities and vibrant community spaces are high on the list of priorities.
Proximity to essential amenities like shopping, dining and public transport is also crucial.
Recent projections indicate a significant number of Australians approaching retirement in the coming years. The Australian Bureau of Statistics forecasts that by 2026, more than 22% of Australians will be aged over 65, up from 16% in 2020, highlighting the need for properties designed with downsizers in mind.
With this in mind, YarraBend Signature Club Penthouses aim to provide a mix of luxury and practicality, with panoramic views of the Dandenong Ranges and Melbourne’s city skyline to boot.
“We are redefining luxury in our first penthouse release at YarraBend with standout travertine islands up to 5.5m long, wine cellars, bars, Smeg’s most advanced Dolce range of appliances, options from two to five bedrooms and private rooftops that include pools, spas and outdoor kitchens,” Tucker says.
Experience an exclusive preview of Signature Club Penthouses at the YarraBend Display Suite, where premium appliances meet signature design in every detail. Image: Tom Blachford.
Amazing amenities without the maintenance
In a unique market offering, YarraBend’s penthouse owners will be given exclusive membership to YarraBend’s Signature Club.
“Our Signature Club offers an unprecedented suite of services, including a private golf membership, a chauffeur, valet car detailing, spring cleaning, virtual concierge, live-in building manager, room service and celebrity chef dining experiences in our new food and dining precinct, The Bend,” Tucker says.
Exclusive amenities include a private gym, golf simulator, theatre, billiards room, library, bar, plus a subterranean health and wellness offering. If this isn’t enough, YarraBend also offers shared resident amenities of an indoor and outdoor 25m pool, onsen-style outdoor spas, a kids’ play room, massage rooms, a Techno-gym and pilates/yoga studios.
A major new major shopping centre of around 25,000 sqm with medical precinct will begin construction at YarraBend this year, with committed tenants including Coles, Aldi, Reading Cinemas, a new food court and much more.
Alongside a shared pool for residents, select Signature Club penthouses feature private rooftop pools.
Downsizing with confidence
Glenvill, Australia’s oldest private developer, has a longstanding reputation for delivering high-quality, luxury residential projects.
Established in 1958, the company pioneered the knock-down rebuild market and has a $2b+ development pipeline nationally.
“Our housing division is delivering more than 1500 homes annually, and we’re continuing to innovate with projects like YarraBend and beachfront residences in Broadbeach offering some of Australia’s most desirable properties,” Tucker says.
“Our first customers hadn’t considered, let alone even heard of YarraBend or Alphington before, yet were impressed by the premium finishes and design, exclusive amenities and Signature Club inclusions,” Tucker says.
These first purchasers contracted their Penthouse within seven days of inspecting and prior to launch, making it clear the opportunity to secure one of these exclusive residences may not last long.
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