As Sydney’s residential market becomes even more competitive, developers are vying for their projects to capture the attention of purchasers – and MERA Cammeray in Sydney’s North Shore is leading the way.
MERA Cammeray, developed by Central Element, is located at 353 Miller Street (just a stone’s throw from popular Sydney hotspots Crows Nest and Neutral Bay) and the developers are positive that their strategic project approach will translate into sales – even in current competitive market conditions.
Directors at Central Element, Wayne Chivas and Shane Smollen, believe that their strategic approach to projects – including MERA Cammeray – boil down to three main tactics: taking the time to understand the target market, choosing a strategic location and creating balanced functional and aesthetic designs.
MERA Cammeray is clearly positioned to capture buyers who fall into the ‘downsizing’ market: specifically, people who are looking to move from their large high-maintenance freestanding homes into more manageable units.
“MERA Cammeray has been strategically created to suit the needs of people looking to downsize. We didn’t want to just guess what downsizers wanted, instead we took the time to really understand our market by keeping our ear to the ground and talking directly to them and their real estate agents,” Shane Smollen from Central Element said.
“Now we know that downsizers are looking for large open spaces and apartments that capture the indoor/outdoor lifestyle with an emphasis on alfresco entertaining – and that’s what we’ve created.”
Central Element also never deliver ‘investment style’ products – they are always looking to create apartments that are specifically designed for owner occupiers with an emphasis on natural light, open spaces and high quality fixtures, fittings and appliances.
“These quality add-ons aren’t necessary for us to sell our apartments, but we know that our target market – downsizers and owner-occupiers – are specifically looking for these features so we actively try to meet their needs,” Smollen said.
Interestingly, MERA Cammeray also includes two communal areas that will work to give the development a community vibe and allow residents to stay connected – something that Central Element has identified as being important for downsizers.
“Buyers are looking for both connectivity within the development and adequate privacy, and from our previous developments we have learnt that open space is very appealing – that’s why these communal areas work so well,” Smollen said.
MERA Cammeray’s location wasn’t an accident – it was strategically chosen through extensive market research, and when the site became available Central Element was quick to jump at the opportunity.
“Each of our developments are in highly strategic and well-researched locations. Cammeray was a no brainer for us – Cammeray Village is a bright and vibrant community hub, it’s only a short walk to Neutral Bay and a 5-minute drive to the Harbour Bridge,” Wayne Chivas said.
“The site has a very open outlook, so the area doesn’t feel ‘cramped’. We also know that most of the downsizers in the area would prefer to stay where they are instead of moving to a completely different area in Sydney – and MERA gives them the opportunity to do that.
“Cammeray’s growth has been steadily rising since 2016, and its proximity to up and coming hotspots like Crows Nest was another important factor for us when we were looking at potential locations.”
The location is also directly serviced by public transport, has easy access to bike paths and is car-friendly – meaning future residents are easily connected to the rest of the North Shore and Sydney.
The design of MERA Cammeray is both bold and curvaceous, but it is also steeped in functionality and has been cleverly designed to meet the lifestyle demands of future owner occupiers.
“Based on what we learnt about our market, we worked closely with our architects and designers to ensure that the project focused on expansive glass to draw in as much natural light as possible. We also created open indoor/outdoor spaces and the perfect alfresco entertaining areas for downsizers to enjoy – because we know they want those features,” Chivas said.
“MERA Cammeray was also designed to include only 16 apartments, which works to give it a boutique and exclusive feel that residents can be proud of. 13 out of the 16 units feature completely bespoke floorplans, so most owner occupiers will have a truly individual space.”
The other design details – like natural stone, timber veneers and high quality Gaggenau appliances – are the items that show that if developers want their project to stand out they have to place an emphasis on the little details.
Officially launched on 29 July, MERA Cammeray is due for completion by the end of 2018 and has already garnered substantial interest from downsizers, owner occupiers and investors alike – showing that these strategic approaches are working to make the project a centrepiece in the area.
With over 25 years of experience in the property industry, Central Element’s directors Shane Smollen and Wayne Chivas have expertise in marketing, construction, sales and finance. This extensive experience works to ensure that their projects are consistently high quality and exceed the expectations of purchasers.
Over 2016 and 2017, Central Element will have successfully completed 5 high-quality residential developments, including three on the North Shore in Sydney: MERA Cammeray, Aston and Battique in Lane Cove and Aura in Pymble. They are also set to release two luxury over 55s developments in Pymble and Beecroft over the next 12 months. For more information on Central Element and their upcoming projects, click here.
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