Luxury Melbourne developer Coff Property has achieved its second rapid planning approval in quick succession, receiving a permit for a $30 Million high-end townhouse development in Elsternwick after just five months.
The permit mirrors the result seen across Coff Property’s Chomley Terraces in Prahran – which has consistently achieved premium sales between $3 million and $4 million within its first month on the market – which achieved a planning permit last year after just seven months.
Approved in December, the Prahran townhouses are now under construction by Balmain & Co., an award-winning Master Builder which Coff Property entrusted to deliver the architectural quality, high-end finishes and design calibre which has drawn such an exceptional market response.
Across Elsternwick, the new project continues Coff Property’s commitment to design-driven, sustainable townhouse living, with the 10 luxurious double-level residences each featuring private garages, internal lifts, large rooftop terraces with integrated greenery and city views, three or four bedrooms plus study, and advanced home security including number-plate recognition technology.
Designed by Cera Stribley, the homes will balance contemporary architecture with sensitivity to the surrounding neighbourhood and its heritage character.
Together, the Prahran and Elsternwick developments represent more than $75 million in townhouse activation across Melbourne’s inner suburbs in recent months.
These milestones come amid renewed market confidence, with Melbourne dwelling prices rising 1.4 per cent in the September quarter and 3.5 per cent since January, according to the PropTrack Home Price Index.
With only 17 residences, Chomley Terraces has already sold a third of the development within the first two months – a result that Managing Director Adam Coff says is testament to the project team and its design-led approach.
“We’ve had an incredible response to Chomley Terraces, selling a third of the residences in just two months, which gives us great confidence in our product, our team, and the broader Melbourne market. The mix of design, quality and functionality we’re delivering is resonating across a range of buyers – from young professionals to downsizers.”
“For Elsternwick, we worked closely with council and our consultant team, led by Cera Stribley, to achieve a strong planning outcome. The design responds thoughtfully to the existing streetscape and heritage elements, while delivering a premium living experience for future residents.”
“Projects like Prahran and Elsternwick really define what we do. We’re focused on delivering exceptional, design-driven townhouses that bring together architecture, sustainability and amenity in Melbourne’s most sought-after locations,” Coff said.
The Elsternwick project will be delivered as a joint venture between Coff Property and Monark – which currently manages $2 billion in funds – marking the second project in their relationship and building strong momentum for future collaborations.
More information on Coff Property can be found at: https://www.coffpropertygroup.com.au/.
Related Articles
