Diversified property group Pellicano has just presented a $53 million residential development, Alke, to the market drawing significant interest from locals in Oakleigh and surrounding suburbs.
The group originally planned 115 apartments, but reduced the number of dwellings to 89 and increased the size and ratio of larger apartments to cater to local first home buyers, young families, and downsizers.
The development has been specifically designed to fit within Oakleigh’s existing architectural fabric through its use of brickwork, sculpted form and significant setbacks.
Two main buildings oriented to the north hold residences over a respectful six levels, and peel away from one another to create and surround a communal garden that allows an abundance of natural light to flow through the dwellings on each side. A retail tenancy on the first level adds vibrancy and engagement with the streetscape.
The family-owned developer’s legacy in creating residential developments for the Melbourne market extends back nearly five decades. Oakleigh holds particular heritage significance for Pellicano as the founding brothers of the company, Frank and Nunzio Pellicano, built their first residential development in Oakleigh Street, Oakleigh 48 years ago, consisting of 12 solid brick units.
Pellicano’s current managing director, third-generation son Nando Pellicano, said the group’s aim was to set a new design and quality benchmark in the suburb.
“Oakleigh holds a great significance to Pellicano and we want to uphold our history by bringing a more premium product to the area, adding value to the urban context and providing long-term, quality homes for its inhabitants,” he said.
“These generously-sized and well-designed apartments provide a great opportunity for contemporary, community-focused living within an established neighbourhood.”
Oakleigh is well-known for its strong multicultural heritage and dining scene.
Just a two-minute walk from Alke is Eaton Mall, one of Melbourne’s premier cultural precincts, which offers some of the best Greek food in Victoria to locals and visitors alike.
The suburb also offers high connectivity through its public transport routes and enjoys access to renowned public and private schools and universities.
“Many second- and third-generation European Australians who want to stay in their established community and continue to enjoy the abundant amenity but without the hassle of looking after a large family home are looking to move into these larger, well-appointed apartments.
“The local primary schools and close links to relatives also make it attractive for the young families looking for a home,” said Mr Pellicano.
Alke’s apartment interior scheme is based on timber floorboards, contrasting lines and colour combinations of soft grey and white expressed through the joinery with touches of industrial black detailing.
Timber veneer treatment to the joinery brings a sense of warmth and texture to the spaces.
Alke offers a range of one, two and three-bedroom residences, including garden loft residences, terrace homes and three-bedroom penthouse-sized dwellings.
Prices start from $447,000 for a one-bedroom, $562,00 for a two-bedroom apartment, and $970,000 for a three-bedroom apartment.
Balconies and courtyards range from seven to 105 square metres, and all apartments come with a car park and storage.