This article is from the Australian Property Journal archive
SYDNEY developer ALAND has unveiled a mixed-use residential and hotel development that will be delivered on a 5,656 sqm parcel in the heart of Gosford on the Central Coast.
ALAND in June acquired the 108 Donnison Street site, at the time saying that depending on pre-sales it would largely stick to the Dickson Rothschild architectural design of the dual-tower residential and hotel complex approved in 2019.
The developer has now amended those plans to “better suit the current market and local community” to include 323 residential apartments, 130 hotel rooms, multiple food and beverage tenants, plus a 960 sqm whole-floor sky bar.
The project is called Archibald, named after Archibald Acheson, the second Earl of Gosford. It is now being launched to market in collaboration with McGrath Projects.
“As a result of careful consideration, we believe we have created an exceptional contemporary design that will appeal to holidaymakers, local buyers, purchasers moving to Gosford, and investors looking to capitalise on the growth potential of this thriving community,” said ALAND CEO George Tadrosse.
John McGrath, CEO of McGrath Real Estate, said the Central Coast is poised for impressive price growth performance.
“With a perfect blend of coast and country lifestyle, combined with an easy drive to one of the biggest cities in the world, it has everything the market wants. And the growing work-from-home trend has made it an even more in-demand lifestyle,” he said.
The site is 76 kilometres north of the Sydney CBD.
“Gosford is rapidly emerging as one of the most exciting fast-growth commercial hubs on the east coast of Australia and provides the area with the long-awaited commercial and retail opportunities it’s been crying out for.”
Despite a widespread price correction across many residential markets, McGrath said the thriving region has great long-term prospects.
“The Central Coast has been impacted along with almost every other market in the country, but the growing trend towards sea and tree changes – coupled with work from home demands – has positioned this market for a softer landing and a more rapid bounce when interest rates stabilise,” he said.
“And a very large section of the growing demand for the Central Coast are both big city downsizers from nearby Sydney as well as professional couples and families. Apartment living has never been more in-demand by these groups.”
The recently opened NorthConnex has shaved 20 minutes off commute times between Sydney and the Central Coast.
With street frontages on Mann, Donnison and Baker Streets, Archibald is one of the Gosford CBD’s last remaining consolidated sites. The two buildings will house one-, two- and three-bedroom units plus three- and four-bedroom penthouses, all with access to resort-style facilities and many with views of Brisbane Waters and the city skyline.
Apartments in the development range in sizes from 58 sqm to 280 sqm with a one-bedroom starting from $475,000.
Completion is scheduled for the end of 2024.
Archibald is well-connected Gosford train station, Central Coast Stadium, TAFE and the University of Newcastle’s proposed $18 million Gosford Campus upgrade on Mann Street.
