Fridcorp’s $700 million BEYOND project in Hurstville achieved more than $120 million in apartments in stage one sold since the development went on-market in mid-October.
The sales comprised 180 of 300 apartments released in stage one purchased by a mix of owner-occupiers and investors, who secured their properties through a $5,000 deposit with more than 250 registrations of interest submitted for the property prior to the launch.
Stage two will comprise a further 256 apartments scheduled to be released in early 2017.
Fridcorp Director Paul Fridman said the results exceeded all expectations.
“The sales success shows that there’s definitely an appetite for this type of housing in Sydney."
Located at 93 Forest Road in Hurstville, BEYOND has beautiful, sculptural architecture and thoughtfully designed interiors with a high level of quality and amenity.
"People are understanding the value of Hurstville as a suburb that has plenty of upside," Mr Fridman said.
It was estimated that 65 percent of buyers into the development were owner-occupiers.
BEYOND was designed by architecture firm DKO Architecture with interiors by Woods Bagot and landscaping by Openwork. Located just 20 minutes by train from Sydney’s CBD, the development offers a mix of 556 one, two and three bedroom apartments across four buildings on a 13,927 square metre site.
Apartments will have expansive views of Sydney’s CBD, Botany Bay and Kempt Field.
A new retail precinct at the site will include a 3,500 square metre Woolworths as well as specialty shops, cafés and restaurants. The project borders nearby Kempt Field and will provide a new direct route to the Allawah train station through the park.
Residents will have access to a variety of communal spaces, among them, spaces for yoga, badminton and reading pods.
One bedroom apartments, ranging from 50 to 61 square metres, sold from $565,000 to $665,000.
Two bedroom apartments, ranging from 75 to 92 square metres, sold from $845,000 to $1,160,000 while three bedrooms, ranging from 95 to 107 square metres, sold from $1,200,000 to $1,400,000.
Fridcorp experienced similar launch day sales success with Eve in Erskineville, its first Sydney-based project, when it sold $100 million in sales on its official launch day in May 2014. DKO Architecture was responsible for the design of Eve.
Construction is expected to commence in August 2017 and is due for completion prior to the end of 2019.