Coburg: Changing of the Guard at a Historic Pentridge Prison

A five-star hotel on the lower levels and matching high-end homes has resulted in this Melbourne tower gaining a lot of attention and quick sales in the historic prison site.

A five-star hotel on the lower levels and high-quality designs to match have helped a tower in Coburg achieve rapid sales as construction progresses.

Shayher Group’s latest Pentridge prison project, The Summit, has sold 15 of its 56 apartments since its sale last month.

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But with more than a quarter of the project’s homes sold, the real estate agent handling the sale is seeing an unexpected trend: buyers are increasingly aware that the site was once a notorious prison.

Dynamic Residential Director John Kravaritis said the district is now “completely transformed”.

A few history buffs had expressed interest in The Summit homes, but most of the demand came from buyers looking to the future.

“The Summit building is right next to the original prison and is surrounded by the bluestone walls and the clock tower,” said Mr Kravaritis.

“But you wouldn’t necessarily know it was a prison. It just looks like an old heritage structure – so we’ve had people come to the showroom who have migrated in the last 10-20 years and don’t even know it was a prison.”

Most of the interest came from downsizers and professionals living in the north of Melbourne.

“And we have a number of one bedroom apartments and smaller two bedroom apartments, so first home buyers have been drawn to those,” said Mr Kravaritis.

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The apartments feature Miele appliances, waterfall edge stone worktops, walnut veneer cabinets and New Zealand wool rugs.

Residents also have access to the hotel’s gym and pool, while rooftop amenities, including gardens and a BBQ area, are reserved for the exclusive use of residents.

“It’s a very unique offer to sit on top of a five-star hotel in Adina,” said Mr Kravaritis. “And the architectural aesthetic was quite appealing.”

Construction is already 70 percent complete and residents are expected to move into their homes in January or February next year.

One-bedroom units are priced from $452,000-$560,000, two-bedroom floor plans from $566,000 to $814,000, and three-bedroom homes from $1.1 million.

For more information, please visit the display in the Pentridge Shopping Center on weekends 11am-1pm, call John Kravaritis on 0413 561 225 or visit thesummitpentridge.com.au

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Originally published as Coburg: Changing of the Guard at a Historic Pentridge Prison

Read related topics:Melbourne

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