Sydney developers get active again
July 11, 2012
| Development Sites
| Project Management
Sydney developers are well and truly back into the residential market buoyed by low interest rates and buyers looking for brand new homes, with Colliers International recently appointed to three new projects in as many weeks on the city’s outskirts.
In total the projects will deliver more than 300 apartments in Eastwood in Sydney’s north, Zetland in the inner west and Sans Souci in the south to just name a few.
Peter Chittenden, Colliers International Managing Director of Residential, says savvy developers are focusing on areas where rapid change is taking place.
“Populations are never really static and change can include areas that are being gentrified as old industrial sites give way to residential projects.
“This is particularly evident in Zetland with the launch of multi-staged Link, at 1-5 Link Road. The first stage, was released to the market last week 23rd June 2012, will comprise 72 apartments in stage one with a further 157 apartments in future stages.
“Apartments will be priced from the low $500,000s and have been designed to appeal to the growing demand of 30 to 45 year olds, which is quickly becoming the largest buyer demographic next to the baby-boomer investors.”
In addition to project marketing, Colliers International has advised the developer, Tripod Property Group, across all facets of the development from its initial valuation when the site was acquired through to project management and leasing of its impending 3,500sq m showroom space.
Colliers International’s appointment to Winten Property Group’s project at 7 Rutledge Street, Eastwood follows the Residential team’s success of selling its $144 million Belvedere tower in North Sydney.
Once completed, the Eastwood project will comprise 79 apartments, eight retail shops and 100 car spaces within a 10-level plus basement building.
“While the project is a relatively boutique offering, it is in a prime location to benefit from the proposed Eastwood Centre Redevelopment which includes a major upgrade of existing retail and commercial facilities, a new arcade link between the Rowe Street Mall and Rutledge Street,” Mr Chittenden said.
“With prices starting in the low $485,000, this project will appeal to a wide range of buyers as it enters the market in September-October of this year.
The Jameson at 528-538 Rocky Point Road, in Sans Souci’s new lifestyle centre will be a contemporary mix of residential and retail suites, offering one, two and three bedroom apartments designed by famed Sydney architect Krikis Tayler.
With more than $30 million in sales remaining across 49 apartments, The Jameson is another complementary project to the now extensively diverse range of projects Colliers International offers across NSW.
“These appointments are a prime example of the strength of the Colliers International brand in the marketplace, our proven track record in project marketing over the past 30 years and our truly integrated team that can deliver our developer clients results from concept to completion.”
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