Project Highlights First joint venture with Chinese institutional company, Sino-Ocean Land
Project Value $340m
Project Timeframe April 2013 – June 2017
Eq. Tower was a categorical commercial success for ICD Property. The sales rates achieved for these apartments took place in a record time period compared to any residential apartment project in Melbourne, 80% of residences sold within two months. The balance was achieved in eight months overall. We also managed to secure a planning permit from the Minister’s office in the remarkable time of 165 days. As well as being our fastest selling project, Eq. Tower eloquently and powerfully communicates ICD’s overall vision: we seek to influence and improve state-of-the-art high-rise apartment developments in Melbourne’s CBD. This project benefits greatly from the joint venture arrangement we enjoy with Sino-Ocean Land, one of China’s largest land developers. The Sino-Ocean brand instils immediate confidence with Asian audiences in particular and ICD was able to introduce this venerable company to the nuances of the Australian marketplace.
The biggest single bank development funding in Victoria at the time.
633 apartments over 65 levels were sold in less than 240 days.
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Level 18, 303 Collins Street
Melbourne VIC 3000
Level 19, 233 Castlereagh Street
Sydney NSW 2000