This article is from the Australian Property Journal archive
DEVELOPER Stronach Property has received development approval to build 166 apartments and townhouses just a short walk from Newcastle’s Darby Street and East End.
The new development at 11-17 Mosbri Crescent, The Hill will offer a range of one to three-bedroom apartments and four-bedroom townhomes designed by Marchese Architects with prices starting from $599,950.
Light-filled residences will range from 55 sqm to 208 sqm, and there will be recreational facilities including a rooftop swimming pool with expansive views from The Hill over the city, a rooftop lounge and dining area, a residents’ garden pavilion with outdoor dining areas, outdoor recreational gym and private landscaped gardens designed by landscape architects Arcadia.
The Newcastle beaches and harbour foreshore are an easy walk, located less than a kilometre away.
Keith Stronach said interest in Sovereign Park had been very strong given the ideal location of the project.
“The site is surrounded by some of Newcastle’s most iconic landmarks including Darby Street, King Edward Park, the Bogey Hole, Memorial Walk and the much-loved Obelisk.”
Newcastle’s population is set to grow by 41,150 residents to 202,050 by 2041, stimulating demand for almost 20,000 new dwellings, according to the City of Newcastle.
Ed Crawford of Colliers, who has the listing, said demand for the Newcastle inner city and CBD fringe market demand is supported by strong relative affordability, a desirable lifestyle offering, and an attractive range of residential projects.
Nearby, Sam Arnaout’s Iris Capital is developing the $1 billion East End project that is transforming downtown Newcastle.
“As the capital of the biggest regional economy in Australia, and only 90 minutes from Hornsby, Newcastle is the favoured destination for people exiting congested metropolitan locations, or seeking work-from-home/work life balance,” Crawford said.
Stronach Property’s projects include Merewether Surf House, Arena Apartments on Newcastle Beach and the Herald Apartments in Newcastle East.
