Global developer, Poly (Australia) Real Estate Development Pty Ltd has celebrated the start of construction of its landmark $344 million Poly Horizon project in Epping.
The ground-breaking comes on the back of the project achieving strong sales results with 70% of all apartments released to date now sold, equating to more than $206 million.
The project comprises 501 apartments across three residential towers, including a 21-storey tower, a 22-storey tower and a seven-storey tower. Poly received DA approval from the North Sydney Joint Regional Planning Panel (JRPP) in February 2016. The approval also includes 1,000sqm of ground level retail and over 3,500sqm of community and park space.
Poly Managing Director Arthur Wang said since acquiring the site in January 2015, Poly has worked closely with Hornsby Council to ensure that the development is delivered to the highest standards and will meet the needs of Epping’s growing population.
“We will continue to work closely with the City of Parramatta Council with the change in local government area boundaries,” Mr Wang said.
“Through the delivery of Poly Horizon, Poly’s vision is to contribute to the long-term transformation and revitalisation of Epping as one of Sydney’s key growth suburbs.”
Ganellen CEO Peter Maneas and Poly’s Managing Director Arthur Wang (L-R).[/caption]For the next 20 years between 2011 and 2031, Epping’s population is expected to increase by more than 44,000 people with an expected average annual increase of 2,200 people. The Department of Planning and Environment is expecting the largest growth between 2011 and 2031 to occur within young couples with children group, representing a growth of 22.3% from 2026 according to the Australian Bureau of Statistics.
Mr Wang said, “Today we are also announcing the appointment of our construction contractor, Ganellen, to deliver Poly Horizon which is due for completion in 2018.
“Poly has appointed Ganellen based on the company’s strong track record in delivering complex, multi-staged mixed-use high-rise developments. Poly has been working closely with Ganellen in the excavation/land preparation phase of the project for the past two months. We are now commencing construction on the development,” Mr Wang said.
“Ganellen has a well-established reputation in the Australian market. We’ve worked very closely and harmoniously with Ganellen on their build schedules to give further confidence to buyers that Poly Horizon will be delivered on time and on budget.”
Ganellen CEO Peter Maneas said as an international developer, it is great to partner with Poly being a new major player to the Australian property market landscape.
“We look forward to building a close and long-term working relationship with Poly,” Mr Maneas said.
A selection of apartments are remaining for sale. Prices start from $420,000 for a studio, $550,000 for a one bedroom plus study, $820,000 for a two bedroom and $1.06 million for a three bedroom apartment.
With the tallest tower at 22 storeys in height, standing 72 metres tall, the residential towers will offer spectacular views of the treetop canopies of the adjacent lush green suburbs and districts, including views of the CBD, North Sydney skyline and the Blue Mountains.