The first major off-the-plan sales launch in Sydney this year has proved a big hit with buyers, with 83 apartments sold on launch day of the latest stage of the Melrose Park North development.
The project, which includes 156 studio, one, two and three bedroom apartments, in two iconic buildings known as Pulse and Pavilion, is located near the corner of Hughes Avenue and Victoria Road, Melrose Park.The results have exceeded expectations, said Boston Marketing Director, Rhys Morgan, who is selling the project on behalf of PAYCE and Sekisui House Australia.
“The sales result is a clear signal that there is increasing demand for high quality projects which are part of a major urban renewal. At this time when buyers are preferring to purchase from well-established developers, it is a further vote of confidence for the quality of both the PAYCE and Sekisui House product and Melrose Park as a desired and affordable location,” he said.
Melrose Park North, which will also include a supermarket, café, childcare centre and other essential needs shops, has already been professionally recognised, with the One Melrose building winning a Gold Award for architecture in the 2019 Sydney Design Awards.
This latest sales result, follows a successful campaign in the first two stages of the Melrose Park project, with more than 400 apartments sold over the last two years.
A 30,000sqm retail and commercial complex is also planned on the larger adjoining site, south of Melrose Park North, featuring a major supermarket, approximately 50 new retail stores, including restaurants, cafes, childcare and gym, as well as a medical centre.
The complex – Melrose Central – will be modelled on the internationally-recognised PAYCE development East Village in Zetland, Sydney.
Mr Morgan described the timing of the launch as a “bold move to test the market, but it has paid off with huge market acceptance.’’
“We had 100 people pay a deposit to attend a pre-launch event, so we were confident the launch would attract strong support,” he said.
“The sale of 83 apartments in one day is a very strong result and shows purchasers are back for the right project.”
Buyer feedback had centred on the following key attributes:
- Opportunity to buy early into Sydney’s biggest urban renewal project
- Project partners with a proven, long term track record in delivering high quality developments
- Award winning design by architects AJ+C
- Affordably priced apartments, which include smart living technology