Over $100 million worth of residential and retail properties was snapped up in less than two hours after Romeciti launched Stage 2 of its mixed-use development Eastwood Central.
The morning of the launch saw long queues of buyers lining up as early as 7:30am to secure their piece of the development, while over 100 interested buyers had already placed Expressions of Interest and deposits in order to secure their appointment prior to launch day.
The Romeciti project team said the majority of purchasers were locals who plan to remain in the area by residing in the development.
“Romeciti is well aware of the "oversupply talk" that has been the main theme of 2016, and the company agrees that Sydney’s market has seen an increase in residential developments – more so than ever before.
"However, we think that this means that buyers now have more freedom when choosing developments that they deem premium, valuable and worth buying," a Romeciti project team spokesperson said.
Eastwood Central is a large mix-use project of both residential and commercial properties worth over $300 million and will feature more than 270 luxurious apartments.
Designed by architect Nigel Dickson and his team, Eastwood Central features a large sky garden that provides a tranquil experience for its residents. The landscaping is designed with much thought put into materials so as to provide the ultimate green sanctuary.
Eastwood Central was designed with 3600 square metres of internal space and rooftop gardens to "allow residents to relax and unwind from their busy schedules". The shared gardens also promote a communal space where residents can picnic, interact with their neighbours and children while enjoying the natural surroundings.
In addition, the location creates a “2-minute circle” where residents are within walking distance of local schools, public transportation, retail and commercial districts.
The $300m+ development has attracted strong interest from purchasers since launching Stage one last December, which sold out in just 45 minutes.
Stage three of Eastwood Central is due for release in 2017.