Chinese Developer Yuhu Group is considering an early release of second stage sales after the huge success of its first project in Sydney - The Miller - with a great result on the weekend seeing Ray White Projects sell out the stage one release of apartments which included all four top-floor penthouses.
All stage one contracts have so far exchanged hands, with sold prices for the four top-floor penthouses starting at $3million and all going to local buyers. A 72 sqm 2-bedroom north-east facing apartment sold for $1.5million, also to a local buyer.
The residential project was launched by Yuhu Group on Saturday 19 March, and is an exclusive $200 million plus 21-storey residential tower comprising 183 apartments and 100 serviced apartments.
The group has scheduled the second release of apartments to go on sale in May, but may consider an earlier release.
Ray White Projects Director Eddie Mansour said this was a strong sign for the Sydney market. “Although there is a lot of speculation that the market is slowing, the quick sell out of our first release shows that there is still significant strength in the Sydney market, and high demand for quality apartments within the city,” he said.
“Interest in The Miller has been from a combination of both offshore and local buyers, with the first release of marketing material generating notable interest.
“With a unique standard of living, The Miller has been designed to accommodate residents seeking a lifestyle of convenience and leisure with a unique Manhattan style living experience in North Sydney. The specialised concierge service, which includes on-site gym, restaurant, laundry and room service - has been a key feature for our buyers.”
Located at 221 Miller Street North Sydney, the second release of apartments for the exclusive $200 million plus residential tower designed by PTW and marketed by the Ray White Group will go on sale shortly. Construction will commence mid 2016 with an expected completion date in 2018.