Eureka Tower, Australia 108, Capitol Grand: separate amenities for wealthy apartment owners

Separate entrances and amenities for wealthy apartment owners are flashy additions to Melbourne’s residential towers.

The dual door set up has failed in developments overseas; dubbed “poor doors”, they are now banned in New York City.

The two-tier trend of one foyer and set of amenities for the priciest pads and another for the hoi polloi is symbolic of an emerging ultra prestige in the Melbourne apartment market, where price records are being broken.

Poor doors were scrapped by the New York City council, and raised controversy in London and Toronto, after developers exploited an affordability loophole, for tax breaks, that mixes social and private tenancies.

New York politicians called the ban “a big win for decency”.

The differences between the haves and have nots were pronounced: social housing residents, who paid below market rate, were not given access to amenities and critics slammed it as “financial apartheid”.

The lower levels of Melbourne’s upmarket towers are not for battlers. The buy-in at both Capitol Grand and Australia 108 is at the higher-end of apartment prices — about $500,000 for a single bedroom or nearly $1 million for two bedrooms — and residents also have sparkling facilities.

But in Melbourne, developers are moving towards stratas of luxury within apartment blocks, driven by price tags matching Toorak giga-mansions and with that, a set of discerning buyers.

Eureka Tower in Southbank, which was completed in ten years ago, has three entrances for the low, mid and cloud-level floors, which includes penthouses worth tens of millions of dollars.

This configuration is being replicated in the latest high-density, off-the-plan developments — Capitol Grand in South Yarra and Australia 108 at Southbank.

The premise for separate entrances and facilities is geared towards privacy for well-off buyers and downsizers, who can have their pick of a booming number of premium developments.

The ranks of ritz in Melbourne developments are like comparing prosecco to champagne: both are nice, but one is more exclusive.

Capitol Grand, on the corner of Toorak Road and Chapel Street in South Yarra, will have separate lifts and mail delivery but 24 hour security and concierge for all.

Its taller building, containing the most plush addresses, has a private “club” with a curved infinity pool to soak up views of the bay.

Residents on level 33 and above can use the same amenities as lower floor neighbours, including an outdoor deck, but will also have their own entertainment spaces.

Capitol Grand’s penthouse is expected to smash the $25 million national apartment record set last year by Australia 108.

LK Property Group chief operating officer Boris Rozenvasser said only 30 to 35 owners, of almost 300 apartments, will have club access.

“It is never going to be a busy place, whereas as the swimming pool on the deck or cabanas will be for everyone and is a more popular place to go,” he said.

“The concept is hotel style, when you stay and have an executive club. If you are paying the most premium prices, you also have the best amenities and the extra level of amenities compared ot the rest of the project.”

Australia 108 also has split lobbies and facilities, including dining rooms, gyms and pools, for different sections of the skyscraper.

CBRE residential projects managing director Andrew Leoncelli said practicality called for segmenting the skyscraper’s 5000 square metres of amenities, but all will be finished to the same standard.

“About 1110 units is an extremely dense development, and is instantly going to put off very sophisticated individuals – discreet purchasers – who are worried about all those natural negative perceptions, so having separate lobbies, separate lifts and amenities is exactly what we needed,” he said.

“You can choose to mix with everyone else, but should you never want to, you have private lounge rooms, dining rooms, outdoor court, golf simulator, theatrette.”

Mark Dawson from Urbis economics and market research firm said developers needed to appeal to multiple stratas of the market by “spreading the risk and reward by offering residents varying levels of luxury”.

“Everyone wants some degree of being spoilt rotten and well looked after,” he said. “If you are paying that price you have an expectation that it buys a level of exclusivity.”