This article is from the Australian Property Journal archive
FINANCIER MaxCap has provided Deicorp Group with a first mortgage construction facility for its $185 million Rosebery development.
Located at 12-22 Rothschild Avenue, Deicorp’s “The Rothschild” sits around 6km south of the Sydney CBD and will comprise 176 residential apartments and ground floor retail across two buildings over two levels of basement parking.
Designed by Candalepas & Associates, construction at The Rothschild has commenced and is expected to reach completion by late-2024.
“Deicorp is one of Sydney’s largest and most reputable private developers which aligns perfectly with MaxCap’s institutional capital base,” said David Oudshoorn, state director of NSW at MaxCap.
“Well-designed residential projects in locations like Rosebery continue to be in demand despite changing economic conditions.”
According to MaxCap, Rosebery is currently undergoing significant urban renewal and gentrification as it moves away from its warehouse and industrial past into an inner city precinct with high density mixed- use developments and supporting infrastructure.
“Despite recent interest rate rises putting pressure on house prices and mortgage availability, we remain very positive on the Sydney residential apartment market, particularly for strong developers and great projects like The Rothschild, due to the ongoing supply challenges in this market,” added Oudshoorn.
The Rothschild development sits within close walking proximity of Green Square train station and bus routes, while also near amenities such as East Village Shopping Centre, primary schools, the University of New South Wales and Southern Cross Drive.
“We’re experiencing strong interest from purchasers looking to secure a stylish, elegantly designed apartment on the edge of Sydney’s CBD. Rosebery’s renaissance as a foodie destination makes these luxury apartments even more appealing,” concluded Rob Furolo, executive manager of communications at Deicorp.
