Urban renewal project Melrose Park North has set a new off-the-plan sales benchmark, with more than 600 apartments now sold across the first three stages.
Work has started on the latest stage, Pulse & Pavilion, with the City of Parramatta Lord Mayor Bob Dwyer and Sekisui House Australia CEO and Managing Director Atsuhide Seguchi turning the first sod on site this week.
The stage, which includes 156 apartments, is already more than 90% sold out – easily making it the most successful major apartment sales project in Sydney this year.
Mr Seguchi said the Melrose Park North project, which is located along Victoria Road, was exceeding all expectations.
“It is no secret that the Sydney property apartment market has been challenging over the past two years,” Mr Seguchi said.
“However, it is clear well-designed, quality developments that offer a great lifestyle remain attractive to purchasers.’’
Residents will soon start moving into the 277-apartment first stage, known as One Melrose, while work is well underway on the second stage.
Melrose Park North is part of a much bigger urban renewal which includes a further 5000 apartments, parklands, retailing and community facilities.
Boston Marketing Director Rhys Morgan, who is selling the project on behalf of Sekisui House Australia, said the decision to launch stage three 12 months ago was a bold move which paid off.
“The sales result which includes selling 83 apartments on launch day in 2019 proves that there is strong demand for quality apartment projects,’’ Mr Morgan said.
Buyer feedback had centred on the following key attributes:
- Opportunity to buy early into Sydney’s biggest urban renewal project
- A Developer with a proven, long-term track record in delivering high-quality developments
- Award-winning design by architects AJ+C
- Affordably priced apartments
- A location benefiting from significant infrastructure investment.
Mr Morgan said stage four, which includes 412 apartments and retail with a supermarket will be launched early next year.