Seven sub-$600,000 units left in newly completed Docklands development Serrata as June 30 deadline draws closer

Just seven one-bedroom units remain in Serrata, which has just been completed in Melbourne’s Docklands as a joint venture between Lend Lease and Japanese developer Sekisui House.

The building comprises 83 two-bedroom apartments and 61 one-bedders and is aimed at the more affordable end of the market, including first-home buyers.

The seven remaining one-bedroom units are priced between $425,000 and $465,000, well under the Victorian government’s $600,000 threshold to receive the first-home bonus. The bonus is available to first-home buyers and expires June 30.

Serrata has proven popular with first-home buyers since it came to market in mid-2010.

“The project has provided first home buyers and property investors with a realistic opportunity to purchase a quality inner-city property in a great location,” says Paul Shaw, head of Lend Lease’s apartments division.

“More than 50% of Serrata apartments were sold within the first week of launch, which shows the rising demand for apartment living close to the city.”

The building, which will accept its first residents in the next few weeks, is 15 storeys (the first 12 levels have an identical floor plan of 11 apartments, but the top three levels are much smaller and have three apartments each) and has a four-star green star rating. Each apartment comes with a smart meter in order to monitor electricity, water and gas usage. The building has no air-conditioning at this stage but is designed to maintain a fairly constant temperature with no need for climate control.

Continuing the sustainable theme, there are 65 car parks allocated to the two-bedroom buyers but enough bike parking racks for all residents and their guests.