I am Interested
Close

Yes, I am Interested

MENU

Spectra

We invite you to experience.....


Yes, I am Interested

Add to Compare

Sharing our vision with the government’s Master Plan to invest $290 million into Melbourne’s ‘Second City’ known as the capital of the south east, we have made a strategic decision to invest alongside the state and local government’s twenty year plan to Revitalise Central Dandenong, delivering what will be an iconic residential and commercial project that will prove to be a successful long term investment.

Martyn Barnes – Managing Director

Les Finnis, Director of award winning practice Finnis Architects is extremely proud of his company’s recent achievement in providing the City of Greater Dandenong with its newest landmark development, Spectra Apartments. Embracing contemporary state of the art design, excellent internal amenity accompanied by leading edge technologies and sustainable planning, this iconic complex will set the standard for all future developments in this rapidly growing region of Dandenong. Spectra offers the unique opportunity to experience prestige living filled with light and space, commanding extended vistas characteristic of exceptional planning and landmark design.

Les Finnis, Director of award winning practice Finnis Architects is extremely proud of his company’s recent achievement in providing the City of Greater Dandenong with its newest landmark development, Spectra Apartments. Embracing contemporary state of the art design, excellent internal amenity accompanied by leading edge technologies and sustainable planning, this iconic complex will set the standard for all future developments in this rapidly growing region of Dandenong. Spectra offers the unique opportunity to experience prestige living filled with light and space, commanding extended vistas characteristic of exceptional planning and landmark design.

Welcome to Spectra Apartments

Dandenong is changing and the Spectra Apartments will be a symbol of that change. Rising 17 storeys above street level, Spectra will be the tallest residential building in Dandenong and, apart from spectacular views, give residents easy access to a revitalised central precinct which is a vibrant mix of cafes, shops, cultural diversity and lifestyle amenities. The Spectra Residential Apartment Tower will offer a total of 96 superbly designed apartments over 12 levels plus retail and office space and 5 levels of car parking. Apartments will be available in 2 bedroom/2 bathroom, 1 bedroom plus study, and 1 bedroom configurations.

Area Key

  • Dandenong Train Station/Bus Exchange (450m)
  • Dandenong Market (430m)
  • Drum Theatre (190m)
  • Chisholm At 311 (180m)
  • Dandenong Plaza (240)
  • Deakin University (190)
  • Greater Dandenong City Council (220m)
  • Dandenong Police Station (550m)
  • Dandenong Primary School (660m)
  • St Johns College (1.2km)
  • Metro Village (750m)
  • Dandenong High School (1km)
  • Dandenong North Primary School (1.2km)
  • Dandenong Hospital (1.3km)
  • Chisholm Institute (1.4km)
  • Dandenong West Primary School (1.3km)
  • Dandenong South Primary (1.2km)
  • Parkmore Shopping Centre (3.5km)

Dandenong & You.......... a great partnership

In what is already the most culturally diverse municipality in Victoria with residents from over 150 different countries, central Dandenong is displaying all the hallmarks of a city on the move.

The Victorian State Government has committed $290 million to develop Dandenong as “Melbourne’s Second City’ with the revitalisation of central Dandenong as the cornerstone of this development.

Spectra is ideally located in the heart of the Comprehensive Development Zone where significant/major development projects have been taking place. Spectra’s residents will be able to take full advantage of the enhancements which have been made to central Dandenong’s retail, hospitality and business precincts, the activity centres and urban transit facilities.

As expected, the government investment has generated significant private sector investment which to date has exceeded $460 million with a further $550 million expected over the next 10 years and a futher $100 million from the city council.

Much of this private sector investment has been in the development of industrial parks including Australand’s The Key, Pelicano’s Innovation Park and Goodman’s Power Park which are all attracting strong interest from national companies who see the value of situating themselves in an area with growing population and firmly established transport links.

The Federal Government has also supported the development of Dandenong with the relocation of part of the $75 million Australian Taxation Office operations into a brand new 7 storey building close to the Spectra Apartment Tower. Spectra

Ideally Located

Spectra is ideally positioned in Central Dandenong giving residents easy access to a range of shops, cafes, restaurants and public transport via the recently refurbished train station and bus exchange.

Dandenong is located at the junction of the Princes Highway and the South Gippsland Highway and has long been the gateway to Gippsland and South East Victoria. It also provides easy access to the CBD via the Monash Freeway and now with the completion of Eastlink and the Mornington Peninsula Freeway gives easy and quick access to Melbourne’s Southern and South Eastern suburbs and the Mornington Peninsula.

Mornington Peninsula - easily accessible via Peninsula link

A culture rich lifestyle

Spectra’s residents will find that Dandenong is rich in cultural diversity and that this diversity creates a multitude of influences and events which lead to exciting lifestyle choices.

No where is this cultural diversity more evident than at the Dandenong Market where 130 different nationalities come together and offer almost any ingredient you can imagine. The World Fare Festival is an annual highlight with music and dance, the outdoor hawkers market, the famous Afghan Tea Cart, and cooking demonstrations.

A culture rich lifestyle

The Little India Cultural Precinct houses a cluster of over 25 specialty shops alive with the colour, smells and spice of India, while the Afghan Bazaar Cultural Precinct offers fresh Afghani breads and kebabs and traditional music.

If more artistic and cultural pursuits are what you seek then the magnificent Drum Theatre hosts more than 200 performances each year and Walker Street Gallery and Arts Centre hosts a broad range of exhibitions by emerging and established artists.

Greater Dandenong Municipal Council, which has just moved into brand new premises, is highly supportive of the local community and promotes a range of events and festivals throughout the year including the Nocturnal Arts program, the children’s festival, youth week and senior’s festival, all of which reflect the cultural diversity of the city.

Care free living

Stores in the area include
Aldi ,, Australia Post
Bakers Delight ,, Boost Juice
Bunnings ,, BWS
Coles ,, Daiso
Dick Smith ,, EB Games
Footlocker ,, Gloria Jeans
JB Hi-Fi ,, K-Mart
Michel’s Patisserie ,, Muffin Break
OPSM ,, Pumpkin Patch
Reading Cinema ,, Rebel Sport
Target ,, Trade Secret
Woolworths

Local Infrastructure Investment

Greater Dandenong City Council is continuing to invest in its infrastructure and along with Places Victoria has created the Revitalising Central Dandenong initiative. This initiative includes key projects as part of a total $290 million investment plan:

  • Lonsdale Street transformation into a green, pedestrian-friendly boulevard.
  • Creating a new entrance into central Dandenong from the west via Stockmans Bridge which will cross the railway line.
  • Linking of Station North Plaza and City Street to create a well-lit path between Dandenong Train Station and the town centre.
  • Metro Village 3175 development of old land to create more homes within walking distance of the town centre.
  • Improvements to the streetscape and roads to reduce traffic congestion in central Dandenong and widen pedestrian walkways.
  • New Government Services Office to amalgamate services in one location
  • Creation of a temporary park to encourage activity in Dandenong.
  • New civic building in central Dandenong for the City of Greater Dandenong.
  • The Cogeneration Precinct Energy Project (PEP) which will be delivered by Places Victoria and project partners Cogent Energy (a subsidiary of Origin

These projects aim to define the future for central Dandenong by making it a great place for people to live, learn, work, and socialise. With the initiative having been launched in 2006, most of these projects are now complete, the effects of which are yet to be fully realised but early signs are showing a positive impact for Dandenong.

The construction phase of this initiative has created jobs and provided a major boost to local retailers and suppliers, and will continue to do so. This initiative is expected to generate over $1 billion in private investment spending over its 15-20 year project life in central Dandenong. With further private investment beyond the initiative, central Dandenong will continue to transform. This will be spurred on by public and private investment and development. Such as industrial land development in Dandenong and Dandenong South:

  • Salta Properties’ Interport inland port estate will provide 170 hectares of land for logistics orientated development, housing a Bunnings distribution centre and the potential for many other retailers such as Coles.
  • Major retailers and suppliers of products such as Reece Plumbing have recently moved distribution facilities to the Dandenong area in recognition of its superior logistics connections.
  • The Logis business park site in Dandenong which is expected to attract nearly $500 million in private investment spending by companies such as Hobson Engineering.

Successful nearby Mosaic residential apartment project located on Cheltenham Road

Demographics

Population

The catchment area population has increased at an average rate of 1.4% per annum in the last 5 years, with an estimated resident population of 230,000 in 2014. Continued population growth is expected with official forecasts indicating annual growth of around 3,300 residents per year through to 2031. This sustained population growth will support demand for additional residential dwellings in the catchment area.

Dwelling Size and Type

Data on dwelling size and type indicates there is a far greater propensity to live in smaller dwellings in Dandenong than the Greater Melbourne average and also the catchment area as a whole. A greater proportion of Dandenong residents live in 1 and 2 bedroom dwellings (49%) and a lower proportion live in 3+ bedroom properties (50%) compared to the catchment area and the Greater Melbourne average.

Age Profile

Compared to the Melbourne average, the age profile of the catchment area suggests it is a particularly attractive location for those aged 20 – 39 years. This age group forms part of the group most commonly associated with medium to high density dwellings in Melbourne, in both the rental and owner occupier market.

Proportion of Renters

Dandenong is a major rental market, with over half of residents renting their home and with the proportion of renters having increased over the 5 years to 2011. With transport links to the CBD and access to universities, both young professionals and students would be expected to be attracted to this rental market.

Impact of Movers

People who have moved into and within Dandenong in the last 5 years are even more skewed to a younger age profile than existing (at the time of the 2011 Census) residents of the suburb. Some 43% of movers were between the ages of 20-34 and a further 10% between the ages of 35-39.

These age cohorts form a key part of the market that typically consumes higher density dwelling forms such as apartments and seek locations with convenient access to employment and amenity.

It is interesting to see how the changing demographic characteristics of Dandenong are flowing through to the choices people make in the type of dwelling they live in. The chart to the right highlights the impact that movers preferences in Dandenong have on dwelling type, compared to all residents.

A pattern is visible; that there has been an impact on the type of dwellings new residents are living in compared to the broader population.

At the time of the 2011 Census, the profile of all residents in Dandenong indicated 47% of residents lived in an apartment, while 45% lived in a detached dwelling and 8% lived in a townhouse.

Market Data

In the last 12 months apartment sales accounted for 54% of total residential transactions in Dandenong, which exceeds the catchment area (26%) and the Melbourne average (30%).

Indicative gross rental yields for apartments in Dandenong (4.9%) are comparable to a number of benchmark suburbs where gross rental yields range from 4.3% to 5.6% and above the Melbourne benchmark of 4.2%.

12 Months 3 Years 5 Years 10 Year Average
Dandenong 4% 1% 19% 6%
Keysborough 4% 3% 20% 4%
Noble Park 1% 1% 17% 5%
Springvale South 9% 4% 20% 6%
Springvale 1% 3% 17% 7%
Dandenong North 2% 0% 22% 6%
Endeavour Hills 4% 5% 10% 4%
Doveton 2% 0% 0% 6%
Doveton n.a. 4% 28% 6%
Hallam 15% 11% 4% 4%
Hampton Park 0% 7% 12% 5%
Lynbrook n.a. n.a. n.a. n.a.
Dandenong South n.a. n.a. n.a. n.a.
Noble Park North 0% 9% 5% 6%
Greater Melbourne 5% 0% 26% 5%

Revitalising Dandenong

The Revitalising Central Dandenong initiative is rejuvenating Dandenong’s city centre and re-establishing Dandenong as the capital of Melbourne’s growing south east region. The $290 million revitalisation project was announced by the Victorian Government in 2006 and is creating a fresh new future for central Dandenong.

Several key projects are now complete or underway and the initiative is enhancing Dandenong’s appeal as a place to live, work and visit through new residential, commercial and community projects.

More about Spectra - the Building

Dandenong is evolving and the Spectra Residences will be a symbol of that change. Rising 17 storeys above street level, Spectra will be the tallest residential building in Dandenong and, apart from spectacular views, give residents easy access to a revitalised central precinct which is a vibrant mix of cafes, shops, cultural diversity and lifestyle amenities..

The Spectra Residences will offer a total of 96 superbly designed apartments over 12 levels plus Retail and Office Space and 5 levels of car parking. Apartments will be available in 2 bedroom/2 bathroom, 1 bedroom plus study, and 1 bedroom configurations.

Your View

Views of the Dandenong Ranges

More of your view

Level 6 floorplate

Development specifications

Level 7-14 typical floorplate

Level 15-17 typical floorplate

Apartment Type 1 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 16 + 5m2
Total 97m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 2 - Level 6

1 Bedrooms
1 Bathroom

Apartment 52m2
Terrace 9m2
Total 61m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 3 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 16m2
Total 84m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 4 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 16 + 5m2
Total 95m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 5 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 9m2
Total 85m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 6 - Levels 7-14

1 Bedrooms
1 Bathrooms

Apartment 52m2
Terrace 7m2
Total 59m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 7 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 13m2
Total 81m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 8 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 10m2
Total 84m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 9 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 10m2
Total 86m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 10 - Levels 15-17

1 Bedrooms
1 Bathrooms

Apartment 52m2
Terrace 7m2
Total 59m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 11 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 13m2
Total 81m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 12 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 8m2
Total 82m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Internal Specifications

We pride ourselves on being able to offer quality apartment living at an affordable price - in a fast-growing area that is sure to have something for everyone.

Kitchen - Bosch appliances

Laundry

Bathroom / Ensuite

Bedroom / General

Nature right at your backdoor

Final World

The Spectra Residential Apartment site is situated in an unbeatable location within Dandenong’s Comprehensive Development Zone, even since the site was acquired the area has continually been enhanced, I believe the property is situated in the most prominent and well positioned spot not only within the zone which is reaping all the benefits of both public and private expenditure but in the best possible location within the street which is extremely central to all amenities, public transport facilities and importantly right in the hub of where all the new developments are occurring. Examples of these are projects the new Civic Centre, the ATO and the Government services offices which are located very close by and are creating significant demand for employment and accommodation.

What initially attracted me to this location was the 20 year Masterplan outlined by Places Victoria and the commitment by both the state and local government to develop and gentrify this particular location in Melbourne, it has clearly been identified as an extremely important economic hub for commerce and industry and in my mind this commitment flows down to where we as investors and developers should be investing.

Since the Spectra concept was initially developed I’ve continually seen significant investment from the private sector who prior to investing conduct massive research on the location and this gives me reassurance that this project will be a strong performer for the long term.

Household names such Aldi and JB HiFi recently opened significant sized stores in the renovated Dandenong Plaza plus long standing organisations such as Reece have relocated their distribution centres to the area along with Salta’s inland port which these two organisations alone have created massive employment demand for the area.

What I look for in the property market is trends which is no different to other asset classes and I view this location as an emerging location, we’ve seen evidence and a trend of major second cities developing in other states such as Parramatta in NSW and Ipswich in QLD, and it’s not only my research that tells me that this location is a strong emerging location but it’s been backed up by very significant Australian businesses and some of Victoria’s most successful property investors and developers such as Grocon.

We’ve been very conscious in delivering this product to the market at a very competitive price point so that our purchasers will benefit from not only strong long term capital growth but as we have demonstrated through obtaining independent analysis and research that this location has proven to have one of the strongest rental yields within the Melbourne Metropolitan area with a significant number of potential tenants who require accommodation in this location.

In summary the Spectra project is located within a prime precinct which is destined to be at the centre of all the major works and employment clusters within the region.

Sharing our vision with the government’s Master Plan to invest $290 million into Melbourne’s ‘Second City’ known as the capital of the south east, we have made a strategic decision to invest alongside the state and local government’s twenty year plan to Revitalise Central Dandenong, delivering what will be an iconic residential and commercial project that will prove to be a successful long term investment.

Martyn Barnes – Managing Director

Les Finnis, Director of award winning practice Finnis Architects is extremely proud of his company’s recent achievement in providing the City of Greater Dandenong with its newest landmark development, Spectra Apartments. Embracing contemporary state of the art design, excellent internal amenity accompanied by leading edge technologies and sustainable planning, this iconic complex will set the standard for all future developments in this rapidly growing region of Dandenong. Spectra offers the unique opportunity to experience prestige living filled with light and space, commanding extended vistas characteristic of exceptional planning and landmark design.

Les Finnis, Director of award winning practice Finnis Architects is extremely proud of his company’s recent achievement in providing the City of Greater Dandenong with its newest landmark development, Spectra Apartments. Embracing contemporary state of the art design, excellent internal amenity accompanied by leading edge technologies and sustainable planning, this iconic complex will set the standard for all future developments in this rapidly growing region of Dandenong. Spectra offers the unique opportunity to experience prestige living filled with light and space, commanding extended vistas characteristic of exceptional planning and landmark design.

Welcome to Spectra Apartments

Dandenong is changing and the Spectra Apartments will be a symbol of that change. Rising 17 storeys above street level, Spectra will be the tallest residential building in Dandenong and, apart from spectacular views, give residents easy access to a revitalised central precinct which is a vibrant mix of cafes, shops, cultural diversity and lifestyle amenities. The Spectra Residential Apartment Tower will offer a total of 96 superbly designed apartments over 12 levels plus retail and office space and 5 levels of car parking. Apartments will be available in 2 bedroom/2 bathroom, 1 bedroom plus study, and 1 bedroom configurations.

Area Key

  • Dandenong Train Station/Bus Exchange (450m)
  • Dandenong Market (430m)
  • Drum Theatre (190m)
  • Chisholm At 311 (180m)
  • Dandenong Plaza (240)
  • Deakin University (190)
  • Greater Dandenong City Council (220m)
  • Dandenong Police Station (550m)
  • Dandenong Primary School (660m)
  • St Johns College (1.2km)
  • Metro Village (750m)
  • Dandenong High School (1km)
  • Dandenong North Primary School (1.2km)
  • Dandenong Hospital (1.3km)
  • Chisholm Institute (1.4km)
  • Dandenong West Primary School (1.3km)
  • Dandenong South Primary (1.2km)
  • Parkmore Shopping Centre (3.5km)

Dandenong & You.......... a great partnership

In what is already the most culturally diverse municipality in Victoria with residents from over 150 different countries, central Dandenong is displaying all the hallmarks of a city on the move.

The Victorian State Government has committed $290 million to develop Dandenong as “Melbourne’s Second City’ with the revitalisation of central Dandenong as the cornerstone of this development.

Spectra is ideally located in the heart of the Comprehensive Development Zone where significant/major development projects have been taking place. Spectra’s residents will be able to take full advantage of the enhancements which have been made to central Dandenong’s retail, hospitality and business precincts, the activity centres and urban transit facilities.

As expected, the government investment has generated significant private sector investment which to date has exceeded $460 million with a further $550 million expected over the next 10 years and a futher $100 million from the city council.

Much of this private sector investment has been in the development of industrial parks including Australand’s The Key, Pelicano’s Innovation Park and Goodman’s Power Park which are all attracting strong interest from national companies who see the value of situating themselves in an area with growing population and firmly established transport links.

The Federal Government has also supported the development of Dandenong with the relocation of part of the $75 million Australian Taxation Office operations into a brand new 7 storey building close to the Spectra Apartment Tower. Spectra

Ideally Located

Spectra is ideally positioned in Central Dandenong giving residents easy access to a range of shops, cafes, restaurants and public transport via the recently refurbished train station and bus exchange.

Dandenong is located at the junction of the Princes Highway and the South Gippsland Highway and has long been the gateway to Gippsland and South East Victoria. It also provides easy access to the CBD via the Monash Freeway and now with the completion of Eastlink and the Mornington Peninsula Freeway gives easy and quick access to Melbourne’s Southern and South Eastern suburbs and the Mornington Peninsula.

Mornington Peninsula - easily accessible via Peninsula link

A culture rich lifestyle

Spectra’s residents will find that Dandenong is rich in cultural diversity and that this diversity creates a multitude of influences and events which lead to exciting lifestyle choices.

No where is this cultural diversity more evident than at the Dandenong Market where 130 different nationalities come together and offer almost any ingredient you can imagine. The World Fare Festival is an annual highlight with music and dance, the outdoor hawkers market, the famous Afghan Tea Cart, and cooking demonstrations.

A culture rich lifestyle

The Little India Cultural Precinct houses a cluster of over 25 specialty shops alive with the colour, smells and spice of India, while the Afghan Bazaar Cultural Precinct offers fresh Afghani breads and kebabs and traditional music.

If more artistic and cultural pursuits are what you seek then the magnificent Drum Theatre hosts more than 200 performances each year and Walker Street Gallery and Arts Centre hosts a broad range of exhibitions by emerging and established artists.

Greater Dandenong Municipal Council, which has just moved into brand new premises, is highly supportive of the local community and promotes a range of events and festivals throughout the year including the Nocturnal Arts program, the children’s festival, youth week and senior’s festival, all of which reflect the cultural diversity of the city.

Care free living

Stores in the area include
Aldi ,, Australia Post
Bakers Delight ,, Boost Juice
Bunnings ,, BWS
Coles ,, Daiso
Dick Smith ,, EB Games
Footlocker ,, Gloria Jeans
JB Hi-Fi ,, K-Mart
Michel’s Patisserie ,, Muffin Break
OPSM ,, Pumpkin Patch
Reading Cinema ,, Rebel Sport
Target ,, Trade Secret
Woolworths

Local Infrastructure Investment

Greater Dandenong City Council is continuing to invest in its infrastructure and along with Places Victoria has created the Revitalising Central Dandenong initiative. This initiative includes key projects as part of a total $290 million investment plan:

  • Lonsdale Street transformation into a green, pedestrian-friendly boulevard.
  • Creating a new entrance into central Dandenong from the west via Stockmans Bridge which will cross the railway line.
  • Linking of Station North Plaza and City Street to create a well-lit path between Dandenong Train Station and the town centre.
  • Metro Village 3175 development of old land to create more homes within walking distance of the town centre.
  • Improvements to the streetscape and roads to reduce traffic congestion in central Dandenong and widen pedestrian walkways.
  • New Government Services Office to amalgamate services in one location
  • Creation of a temporary park to encourage activity in Dandenong.
  • New civic building in central Dandenong for the City of Greater Dandenong.
  • The Cogeneration Precinct Energy Project (PEP) which will be delivered by Places Victoria and project partners Cogent Energy (a subsidiary of Origin

These projects aim to define the future for central Dandenong by making it a great place for people to live, learn, work, and socialise. With the initiative having been launched in 2006, most of these projects are now complete, the effects of which are yet to be fully realised but early signs are showing a positive impact for Dandenong.

The construction phase of this initiative has created jobs and provided a major boost to local retailers and suppliers, and will continue to do so. This initiative is expected to generate over $1 billion in private investment spending over its 15-20 year project life in central Dandenong. With further private investment beyond the initiative, central Dandenong will continue to transform. This will be spurred on by public and private investment and development. Such as industrial land development in Dandenong and Dandenong South:

  • Salta Properties’ Interport inland port estate will provide 170 hectares of land for logistics orientated development, housing a Bunnings distribution centre and the potential for many other retailers such as Coles.
  • Major retailers and suppliers of products such as Reece Plumbing have recently moved distribution facilities to the Dandenong area in recognition of its superior logistics connections.
  • The Logis business park site in Dandenong which is expected to attract nearly $500 million in private investment spending by companies such as Hobson Engineering.

Successful nearby Mosaic residential apartment project located on Cheltenham Road

Demographics

Population

The catchment area population has increased at an average rate of 1.4% per annum in the last 5 years, with an estimated resident population of 230,000 in 2014. Continued population growth is expected with official forecasts indicating annual growth of around 3,300 residents per year through to 2031. This sustained population growth will support demand for additional residential dwellings in the catchment area.

Dwelling Size and Type

Data on dwelling size and type indicates there is a far greater propensity to live in smaller dwellings in Dandenong than the Greater Melbourne average and also the catchment area as a whole. A greater proportion of Dandenong residents live in 1 and 2 bedroom dwellings (49%) and a lower proportion live in 3+ bedroom properties (50%) compared to the catchment area and the Greater Melbourne average.

Age Profile

Compared to the Melbourne average, the age profile of the catchment area suggests it is a particularly attractive location for those aged 20 – 39 years. This age group forms part of the group most commonly associated with medium to high density dwellings in Melbourne, in both the rental and owner occupier market.

Proportion of Renters

Dandenong is a major rental market, with over half of residents renting their home and with the proportion of renters having increased over the 5 years to 2011. With transport links to the CBD and access to universities, both young professionals and students would be expected to be attracted to this rental market.

Impact of Movers

People who have moved into and within Dandenong in the last 5 years are even more skewed to a younger age profile than existing (at the time of the 2011 Census) residents of the suburb. Some 43% of movers were between the ages of 20-34 and a further 10% between the ages of 35-39.

These age cohorts form a key part of the market that typically consumes higher density dwelling forms such as apartments and seek locations with convenient access to employment and amenity.

It is interesting to see how the changing demographic characteristics of Dandenong are flowing through to the choices people make in the type of dwelling they live in. The chart to the right highlights the impact that movers preferences in Dandenong have on dwelling type, compared to all residents.

A pattern is visible; that there has been an impact on the type of dwellings new residents are living in compared to the broader population.

At the time of the 2011 Census, the profile of all residents in Dandenong indicated 47% of residents lived in an apartment, while 45% lived in a detached dwelling and 8% lived in a townhouse.

Market Data

In the last 12 months apartment sales accounted for 54% of total residential transactions in Dandenong, which exceeds the catchment area (26%) and the Melbourne average (30%).

Indicative gross rental yields for apartments in Dandenong (4.9%) are comparable to a number of benchmark suburbs where gross rental yields range from 4.3% to 5.6% and above the Melbourne benchmark of 4.2%.

12 Months 3 Years 5 Years 10 Year Average
Dandenong 4% 1% 19% 6%
Keysborough 4% 3% 20% 4%
Noble Park 1% 1% 17% 5%
Springvale South 9% 4% 20% 6%
Springvale 1% 3% 17% 7%
Dandenong North 2% 0% 22% 6%
Endeavour Hills 4% 5% 10% 4%
Doveton 2% 0% 0% 6%
Doveton n.a. 4% 28% 6%
Hallam 15% 11% 4% 4%
Hampton Park 0% 7% 12% 5%
Lynbrook n.a. n.a. n.a. n.a.
Dandenong South n.a. n.a. n.a. n.a.
Noble Park North 0% 9% 5% 6%
Greater Melbourne 5% 0% 26% 5%

Depreciation Shedule

Revitalising Dandenong

The Revitalising Central Dandenong initiative is rejuvenating Dandenong’s city centre and re-establishing Dandenong as the capital of Melbourne’s growing south east region. The $290 million revitalisation project was announced by the Victorian Government in 2006 and is creating a fresh new future for central Dandenong.

Several key projects are now complete or underway and the initiative is enhancing Dandenong’s appeal as a place to live, work and visit through new residential, commercial and community projects.

More about Spectra - the Building

Dandenong is evolving and the Spectra Residences will be a symbol of that change. Rising 17 storeys above street level, Spectra will be the tallest residential building in Dandenong and, apart from spectacular views, give residents easy access to a revitalised central precinct which is a vibrant mix of cafes, shops, cultural diversity and lifestyle amenities..

The Spectra Residences will offer a total of 96 superbly designed apartments over 12 levels plus Retail and Office Space and 5 levels of car parking. Apartments will be available in 2 bedroom/2 bathroom, 1 bedroom plus study, and 1 bedroom configurations.

Your View

views of the Dandenong Ranges

more of your view

Level 6 floorplate

Development specifications

Level 7-14 typical floorplate

Level 15-17 typical floorplate

Apartment Type 1 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 16 + 5m2
Total 97m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 2 - Level 6

1 Bedrooms
1 Bathroom

Apartment 52m2
Terrace 9m2
Total 61m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 3 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 16m2
Total 84m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 4 - Level 6

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 16 + 5m2
Total 95m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 5 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 9m2
Total 85m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 6 - Levels 7-14

1 Bedrooms
1 Bathrooms

Apartment 52m2
Terrace 7m2
Total 59m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 7 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 13m2
Total 81m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 8 - Levels 7-14

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 10m2
Total 84m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 9 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 76m2
Terrace 10m2
Total 86m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 10 - Levels 15-17

1 Bedrooms
1 Bathrooms

Apartment 52m2
Terrace 7m2
Total 59m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 11 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 68m2
Terrace 13m2
Total 81m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Apartment Type 12 - Levels 15-17

2 Bedrooms
2 Bathrooms

Apartment 74m2
Terrace 8m2
Total 82m2

LEGEND

A/C Air Conditioner
BIR Built In Robe
R Refrigerator
P Pantry

Internal Specifications

We pride ourselves on being able to offer quality apartment living at an affordable price - in a fast-growing area that is sure to have something for everyone.

Kitchen - Bosch appliances

Laundry

Bathroom / Ensuite

Bedroom / General

Nature right at your backdoor

Final World

The Spectra Residential Apartment site is situated in an unbeatable location within Dandenong’s Comprehensive Development Zone, even since the site was acquired the area has continually been enhanced, I believe the property is situated in the most prominent and well positioned spot not only within the zone which is reaping all the benefits of both public and private expenditure but in the best possible location within the street which is extremely central to all amenities, public transport facilities and importantly right in the hub of where all the new developments are occurring. Examples of these are projects the new Civic Centre, the ATO and the Government services offices which are located very close by and are creating significant demand for employment and accommodation.

What initially attracted me to this location was the 20 year Masterplan outlined by Places Victoria and the commitment by both the state and local government to develop and gentrify this particular location in Melbourne, it has clearly been identified as an extremely important economic hub for commerce and industry and in my mind this commitment flows down to where we as investors and developers should be investing.

Since the Spectra concept was initially developed I’ve continually seen significant investment from the private sector who prior to investing conduct massive research on the location and this gives me reassurance that this project will be a strong performer for the long term.

Household names such Aldi and JB HiFi recently opened significant sized stores in the renovated Dandenong Plaza plus long standing organisations such as Reece have relocated their distribution centres to the area along with Salta’s inland port which these two organisations alone have created massive employment demand for the area.

What I look for in the property market is trends which is no different to other asset classes and I view this location as an emerging location, we’ve seen evidence and a trend of major second cities developing in other states such as Parramatta in NSW and Ipswich in QLD, and it’s not only my research that tells me that this location is a strong emerging location but it’s been backed up by very significant Australian businesses and some of Victoria’s most successful property investors and developers such as Grocon.

We’ve been very conscious in delivering this product to the market at a very competitive price point so that our purchasers will benefit from not only strong long term capital growth but as we have demonstrated through obtaining independent analysis and research that this location has proven to have one of the strongest rental yields within the Melbourne Metropolitan area with a significant number of potential tenants who require accommodation in this location.

In summary the Spectra project is located within a prime precinct which is destined to be at the centre of all the major works and employment clusters within the region.