Australian Unity completes first stage of 18-storey luxury vertical village and assisted living tower in Melbourne

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Residents are now moving into the 79 independent living units designed by Fender Katsalidis and Mim Design at The Grace Albert Park Lake (pictured) in inner-city Melbourne ahead of the second stage which will also feature 84 aged care apartments (pictured above) and 71 assisted living apartments.

Built opposite Albert Park next door to Australian Unity’s headquarters, prices for the apartments range from $660,000 for a one-bedroom, $790,000 for a two-bedroom and $1,140,000 for a three-bedroom apartment with the 330sqm penthouse on the market at $4,950,000.

The DMF also varies by apartment price, on the outgoing with 100% capital gain to resident:

  • Apartments less than $1.2m, maximum 32% capped over four years;
  • Apartments more than $1.2m, and less than $2.8m, maximum 28% over four years; and
  • Apartments more than $2.8m, maximum 24% over four years.

The second stage is Australian Unity’s actual head office building and will now start construction in 2020.