This article is from the Australian Property Journal archive
LUXCON Property Group has received development approval for a new $60 million apartment tower at Epping.
The Sydney West Joint Regional Planning Panel has approved the 22-storey development which will comprise 56 apartments. Construction is due to commence at the end of the month.
Luxcon Property Group managing director Ilya Melnikoff said the approval was received just as the project hit $37million in pre-sales following strong local buyer interest.
“As soon as we launched Jardine to the market in November 2015, sales have been strong, and now that we have DA approval, construction can start, which is set to boost market confidence.
“The approval is a positive step forward for the property sector and for Epping, which is set to grow and become a key location within Sydney,” Melnikoff said.
“Over the past ten years, property prices in Epping have more than doubled and are beginning to creep closer and closer to the million-dollar mark that we’re already seeing in inner-city suburbs,” he added. “Epping has seen capital gains on property reach 11.76% over the past year, and with the rezoning of the Town Centre, more amenity and infrastructure will become available, which will see Epping’s buyer appeal increase even more,”
One-bedroom apartments start from just $710,000.
Australian Property Journal
