Raffles has finally sold its first apartment in the capital city of Melbourne.
The company is selling two 1,400sq ft apartments in the CBD at a total price of $5,250 per sq ft. It is one of the first apartment complexes to be built in Melbourne in the past decade.
Raffles was started in 2014 and has sold over 400 units in Melbourne, with most of the units being sold in the Melbourne CBD.
In 2017, the company raised $3 million in venture capital to build the $2.2 million apartments, which are expected to be completed by the end of 2020.
While the company will be building out its new office in the centre of the CBD, the project has been delayed as it tries to sell out.