A new apartment/retail complex under construction at the top end of Parnell Rd follows a trend towards mixed-use developments in upmarket locations.
The Ridge on Parnell, at 381-395 Parnell Rd, is due to finish in November and offers 18 apartments above seven shops.
"As the line between work and play continues to
blur, there is a trend towards mixed-use developments in locations where the street frontage is very valuable," says Hamish Coney, of Colliers Jardine.
The firm is jointly marketing The Ridge with Unlimited Potential.
The development is expected to also appeal to those who want to be part of the Parnell lifestyle, Mr Coney says.
The zoning allows for mixed-use, including service commercial, and this is proving tempting to professional people and retailers, he says.
"The real X-factor of this development is the panoramic views - the museum, Domain and the city, or the harbour and Devonport - that The Ridge location offers many of the apartments."
The development is laid out in two wings, divided by an inner courtyard and with a central lift.
Most of the apartments have two or three bedrooms and floor areas of 139 sq m to 158 sq m. There are two one-bedroom apartments. Prices range from $280,000 to $795,000.
All apartments have terraces and many of the two-storey apartments have terraces on both levels, off the living rooms and the master bedrooms. In addition, many have a void space above the living rooms, which gives a spacious feel and allows for innovative lighting or artwork displays.
All apartments have carparks, plus more parking on site.
"The architectural interiors by Avery Architects are stunners," says Mr Coney.
"Parnell is always popular and these apartments offer an executive lifestyle that enables residents to be right in the thick of Parnell, or the convenience of lock-up-and-go for the weekends."
The Ridge on Parnell is a joint venture between Practec Developments and the Smith family trust, long-time owner of the site.
