Equiset initiated the Villiers Apartments project by introducing ourselves to the owner as a potential head D&C works contractor.

Throughout the tender process, Equiset negotiated the acquisition of the land and conducted a sales campaign. 75% of the apartments have been sold to date.  

Throughout the concept development phase, Equiset has lobbied to have the planning permit restrictions revised to allow the apartments to be marketed to part-time students. The apartments were initially offered to full time students only. 

Equiset has also revised the fitout plans with the architects. The modifications will maximise the usability and potential of the space available.

Villiers Apartments is jointly owned and developed by Equiset and Everbright Group (EBG) under a joint venture partnership with the Ever Bright Group (EBG), whose investment focus is Melbourne residential property.

Construction commenced in September 2010.

The development will be delivered on a tight timeline. Equiset has implemented a number of initiatives to achieve the programmed delivery date including

• acceleration of works through overlapped sequencing
• increase use of pre-fabricated elements

Statistics

• 246 one-bedroom student apartments over nine levels
• Project value: $48 Million
• Total floor area: 8,000m²
• Average apartment floor area: 21m²
• Average sale price: $200,000

Construction Program/Milestones

Commencement:
September 2010

Completion:
December 2011