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AU Sales success in Sydney's Wolli Creek

Property Here - Monday, September 23, 2013

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The appeal of new apartments in Sydney's Wolli Creek hasn't been lost on buyers with more than 80 percent of the first release of studios, one- and two-bedroom apartments at the area's latest new development, Southbank (pictured), already sold.

The overwhelming sales success of Building A, which has a total value of AUD$45 million (S$52.8 million) – has seen the second stage release brought forward to this coming Saturday, September 28. 

Located overlooking the Cooks River and taking in Sydney’s skyline views, Building B will feature three-bedroom apartments in the mix for the first time.

Developed as a joint venture between Winten Property Group and Lyon Group Australia, the project's architects are Spence Pearson, with award-winning leading Melbourne-based design firm Hecker Guthrie creating the interior layouts and finishes.

Marketed by Colliers International, Southbank is the latest of 11 residential and mixed-use developments planned to meet the strong demand for apartments in the emerging Inner South residential area. Construction on the first of Southbank's 320 apartments is anticipated to commence in early 2014.

"The success of Building A has generated a huge amount of excitement and anticipation around Building B, with several hundred registrations now received prior to the launch," said Colliers Project Marketing Director Curtis Field.

Field added that the project has received strong interest from Australian and off-shore investors. 

"We've seen approximately 25 percent of sales from first-time home buyers who have grown up in the Inner South. These young singles, couples and families recognise the huge growth potential of the area and want to get their foot in the door before they are pushed out of the market," he added.

Building B, launching this month, includes 113 apartments over its 13 levels, with 26 one-bedrooms, 86 two-bedrooms and 9 three-bedrooms. Prices range from AUD$430,000 (S$505,000) for a one-bedroom up to AUD$860,000 (S$1 million) for a three-bedroom apartment.