Intelligent purchasers have their finger firmly on the pulse of Melbourne’s Western growth corridor. At the recent Pace of Sunshine North launch weekend both stages one and two of the project were under contract within just two days.
But why do purchasers have their sights firmly set on the west, and why is Sunshine North the ideal location for purchasers to benefit from?
Read on to find out.
- Planned Infrastructure
Pace of Sunshine North’s prime location is set to be further optimised by increased transport infrastructure. The Government of Victoria’s planned Airport Rail Link will provide residents of Sunshine North with a direct line to Melbourne Airport.
In the immediate future, current VicRoads upgrades to the Western Ring Road M80 in the area are easing traffic flow and improving overall safety with completion expected by the end of 2018.
Pace of Sunshine North’s master-planned community itself will increase the overall infrastructure of the area with well-lit roads, and private waste disposal service to ensure the maintenance of the community is kept to the highest standard.
- Employment and Innovation precinct
Historically, Sunshine North has been a thriving hub of innovation and manufacturing in Melbourne’s inner-west. The local area’s heritage in this arena is set to continue with the Victorian Planning Authority’s Sunshine National Employment and Innovation Cluster Framework Plan. Currently being finalised for submission to the Minister of Planning, the NEIC will see increased employment in the area with an estimated additional 13,800 jobs created by 2036.
To further the positive gains from the NEIC, The Sunshine Skills Hub is a new project by Victoria University. The facility will be centrally located on Ballarat Road and will introduce a new health and community training centre complete with a state-of-the-art gymnasium, innovation hub, café and bookstore.
- Local Businesses and Increased Amenity
Melbourne’s inner-west boasts a range of thriving businesses to build on with well-established service centres and regional institutions. As part of Pace of Sunshine North’s commitment to the continual betterment of the area, a new neighbourhood commercial precinct has been proposed for Duke Street. This will be anchored by a local supermarket and provide associated services to the area and future residents of Pace of Sunshine North.
By creating new localised amenities, Pace Development Group will cater to the growing proportion of young families who already call Sunshine North home by reinvigorating the local area and enhancing the neighbourhood.
- Rental returns and capital growth
With the area’s population set to increase, and as an unprecedented ammount of young professionals move into the area as a result of increased jobs, amenity and infrastructure, Sunshine North’s rental market and capital growth is set to increase.
DHS: Urbis reports that as of September 2017, expected rental growth for units in Sunshine North were anticipated to grow 6.2% per annum over 10 years. This positive trend presents again in for houses in the area showing a 5.2% per annum growth over the same time period.
All these factors and more will increase the liveability and investment return for Pace of Sunshine North’s purchasers.
Construction at Pace of Sunshine North is scheduled to commence later this year with completion planned from mid 2019 onwards. With townhouses selling fast, register today to secure your new home in our most exciting community yet.