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15.03.2023 | Domain.com.au

How valuable is a never-to-be-built-out view?

How valuable is a never-to-be-built-out view?

There’s no denying that a view can be the difference between a great apartment and a stunning one. Whether it be calming waters, lush parkland or the silhouette of city towers, a visually appealing aspect is a hot commodity in the housing market.

With a good view, an apartment’s interior is cast in an even brighter light. But perhaps what makes a view so valuable is the ever-changing nature of what can be seen. 

The value of an impressive view must be recognised and there are a couple of requirements for it to be classified as such, says Jarrod McCabe, director at Wakelin Property Advisory.

“I think having a broad and wide view is important because sometimes when they take photos of [the property], you almost have to be standing on one leg to get that view in reality,” he says.

“It’s also important that it’s in the right part of the property. Having a view out of the bathroom or kitchen window is not as desirable as it is in the living room, where you can sit and enjoy it.”

While a north-facing view is always in demand, McCabe says it’s not always the best vantage point in an apartment tower. 

“An example is Northcote,” he says. “If you’re sitting up on top of the hill in Northcote and you have a northerly aspect, you’re looking at Thornbury, whereas if you have a southerly aspect, you have a view back to the city.” 

These views are even more valuable when they are protected by planning laws. With surrounding height limitations or heritage overlays, some apartment projects have the benefit of views that will never be built out. 

This is the case at Trackside House, which is part of the $2 billion regeneration of the Moonee Valley Racecourse by developer Hamton and superannuation fund Hostplus, in partnership with the Moonee Valley Racing Club. 

The building is nestled within 20 hectares of green space and has the enviable luxury of sweeping views that take in both the racetrack and Melbourne’s iconic city skyline.

Best of all, residents are set to enjoy these aspects for years to come, says Fergus Humphries, Hamton sales and marketing director.

“For many developments, the long-term surety of the view is never guaranteed because there’s always another development coming up next door or across the road,” he says.

“With Moonee Valley Park and Trackside House, those views are protected. They’re always going to be over the infield and the green racetrack and beyond, over Moonee Ponds right through to the city, so it’s pretty special.”

Trackside House residents will be able to enjoy the sweeping views from the comfort of their own homes or from a shared rooftop with an infinity pool.

Great views are also an undeniable mood-lifter, Humphries says.

“Looking out over green open spaces and parklands obviously has a positive influence on people’s well-being,” he says. “Especially with people spending more time working from home. We feel that expansive views and green aspects contribute to enhancing people’s moods and creativity.”

Buyers can snap up the keys to secure their very own views across the track, with Trackside House apartments now on the market.

Article written by Kate Jones for Domain.
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