This article is from the Australian Property Journal archive
CBUS Property has sold out all 165 residences at the first stage of its Newmarket Randwick masterplan in Sydney’s eastern suburbs, with the final three-bedroom apartment going for $2.25 million.
The Smart Design Studio-designed Stage 1A at Newmarket Randwick, known as Figtree Pocket, comprises 165 one-, two- and three-bedroom apartments over four buildings, which sit around 8km out from the Sydney CBD.
“We set out to develop a world-class residential community that would benefit residents and locals alike, which our purchasers have overwhelmingly recognised when committing to the finished product,” said Adrian Pozzo, CEO of Cbus Property.
“This result demonstrates purchasers’ ongoing confidence in high-quality residential product developed by respected developers.”
Buyers will have access to “The Deck”, a landscaped communal space underneath a 100-year-old fig tree, which the stage took its name from.
The Newmarket Randwick offerings have witnessed strong levels of interest despite the pandemic, with the open space and close by amenity increasingly appealing to buyers in the face of COVID-19.
“Prior to the pandemic, people were happy to journey away from their homes to neighbouring suburbs or into CBDs to work, shop, run errands, dine out and socialise. Now, they are wanting more options at their fingertips and our Newmarket Randwick masterplan delivers,” added Pozzo.
The New Market masterplan also features the Newmarket Dining retail piazza, with offerings including Gelato Messina, Ribs & Burgers, Dumplings & Beer, Sella Vinoteca, Café Mckenzie, CaliPress, RaRa Ramen Randwick, Baccomatto Osteria and Barber Signature.
The precinct also includes ample green and open space including Inglis Park and the adventure playground.
The second stage of the masterplan, the Bates Smart-designed Young & Fennelly, is already drawing in buyer interest, selling 99% of the 116 one-, two- and three-bedroom residences since its launch in May of last year. with the seven-storey boutique apartment building including 11 north-facing three-bedroom terraces in its offering.
While the Stage 2A, Jane St. Terraces, were launched in December 2021 and have already sold 45% of the 16 three- and four-bedroom SJB Architects-designed residences.
Construction on Jane St. Terraces and Young & Fennelly is scheduled to commence in the coming months, with a respective late-2023 and early-2024 completion anticipated.
