Meriton group will aim for nothing short of a lifestyle haven as it launches the first stage of 'The Retreat' in the Sydney Olympic Park precinct this weekend.
The Retreat will have more than 1200 apartments and will be the developer’s biggest venture in a western Sydney presence that started decades ago.
The initial stage of the master-planned community will involve two elliptical buildings - the North tower, 22-storeys high, will showcase uninterrupted city views and house the widest range of apartment choices in the area.
Those choices will include split-level loft-style designs, apartments with rooftop entertaining and barbecue areas, and penthouses with four bedrooms, two bathrooms, and private rooftop entertaining terraces.
“The Retreat is all about green open space, recreation and leisure," Meriton CEO Harry Triguboff said.
“We have made sure at The Retreat that we provide residents with apartments, resort facilities, shops, a 113-place child-care centre and serviced apartments that complement and add to those attributes."Mr Triguboff predicted prices will rise considerably by the time the project has reached full completion in the next five years.
“The Sydney Olympic Park precinct is an idyllic choice for anyone wanting to escape the fast pace of life and more congested living of the city’s heart," he said.
The Retreat is being built on a 5.17 hectare site at 5 Carter Street bought from the Goodman Group for $245 million two years ago.
Meriton Sales Director James Sialepis said that The Retreat would be ‘in tune’ with the green atmosphere of the Sydney Olympic Park area and a perfect choice for new home buyers.
“The Retreat will have an extensively turfed 2500 square metre central park, with walking and cycling pathways.
“On the third floor of stage one there will be podium gardens where residents will be able to barbecue, dine under cover, or just soak up the views.
“We’ve almost been caught off guard by the demand we’re experiencing for our projects with landscaped gardens and parklands, especially from families and first home buyers, in areas like Lewisham and Sydney Olympic Park."Mr Sialepis said the first stage of The Retreat architects, the SJB group, had designed buildings with glass-faced apartments that capitalised on views across Bicentennial Park and the Parramatta River to the Sydney CBD and the harbour bridge.
Stage one of The Retreat has 149 apartments, some of them the biggest in the area, and they range from one-bedroom through to four-bedroom penthouses with rooftop terraces.
The apartments will start at $585,000 and peak at $2,800,000 for one of the split-level penthouses.
Stage one is expected to be completed by March 2019.