The $280 million Esplanade mixed-use development on Norwest Lake is ready to proceed after recently receiving the green light of approval.
The Sydney West Joint Regional Planning Panel has signed off on plans for Esplanade which is Norwest’s first truly integrated development.
Esplanade Snapped Up Creating Record For Norwest Business Park]Esplanade consists of two towers – one 19 storeys and the other 20 storeys – which is approved to include 247 apartments in a mix of one, two and three bedroom configurations; a range of private resident facilities like pool, gym, open-air cinema and lush landscaped gardens, as well as 6,000 square metres of waterfront retail space and three levels of boutique commercial suites.
In a unique offering, Esplanade also includes four-bedroom penthouses called Sky Residences, which allow owners to upgrade to a low-maintenance lifestyle in a spacious home-like apartment.
The distinctive penthouses are expected to be released to the market in early 2017.
Development manager Capital Corporation reported that all commercial suites and more than 60 per cent of the apartments have already sold pre-DA, demonstrating a huge appetite for the convenience and lifestyle that comes with apartment living.
Capital Corporation Managing Director Steve Grant says the sales success of the commercial workspaces is testament to the continued belief in Norwest as a thriving business park which is now evolving into an exciting residential and urban precinct.
“We’ve had the chance to incorporate feedback from Council and the Norwest Business Association and we’re delighted with the outcome," he said.
Mr Grant said enquiry for apartments remained constant, with downsizers, families and investors all drawn to the ‘all-in-one vertical village’ concept and the array of resort-like facilities.
“Buyers are consistently telling us they’re excited about the lifestyle and the ‘high-end’ nature of Esplanade,” Mr Grant says.
“We know that projects like Esplanade help shape the face of the local area and how people live so this is an important example of how development companies can work collaboratively with planning authorities to ensure the needs of current and future residents are met and even exceeded.”
Prices started from $525,000 for a one-bedroom unit while two-bedroom apartments with parking started from $725,000. A range of premium lakefront apartments have recently been released, and the penthouse collection will come onto the market later this year.
Construction of Esplanade is expected to start in 2017.