Privately-owned developer Sundale will launch its new 116-apartment residential project in Macquarie Park.
The $129 million development, known as Platinum on Peach Tree, planned for the northern Sydney location, was snapped up from developer Hyecorp Property Group after it abandoned plans for its own 116-apartment residential development.
Ericon Buildings will commence construction of the 15-level tower, at 9 Peach Tree Road, later this year with completion slated for early 2022.
Founded by Willy Du, Sundale specialises in residential and commercial projects across metropolitan Sydney and has a current project pipeline spanning suburbs Burwood, Homebush, Waitara, and the Macquarie Park development.
Despite current market headwinds, particularly in Sydney's apartment market, Du remains confident in the development.
“Our vision is to deliver premium apartment living that caters to modern families,” Du told The Urban Developer.
“We're confident this project will be a success due to the future forecast supply shortage in Macquarie Park and have had significant levels of early buyer enquiry as testimony to this.”
Macquarie Park, an area rezoned for increased residential development, has seen new infrastructure including upgrades to the M2 Motorway, the new North West rail line, and the North West Rail project scheduled for completion by 2020.
Appointed agent Seacapital International’s Tracey Tao expects the project to attract a “range of buyers”.
“The one-bedroom apartments will attract first home-buyers, who find it hard to get a foothold in the north shore market. Young professionals from neighbouring areas will also be drawn to the offering, with the transport links to provide easy access to the city and Chatswood.”
The development will comprise six penthouses, and a range of one-bedroom, two bedroom and three bedroom apartments, starting from $649,000 for a 62sq m one-bedroom apartment, ranging up to $1,590,000 for a 121sq m three-bedroom apartment with city views.