This article is from the Australian Property Journal archive
TOGA is bringing forward the construction of its newest development, Macquarie Rise in Macquarie Park, after achieving 70 sales or 50% of the first stage release in its initial open weekend.
Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with an end value of $375 Million.
Buyers at Macquarie Rise have so far comprised owner-occupiers, first home buyers, families looking to upsize and downsizers. With most made up of locals within a 10km radius of the development.
“The sales success reflects the strong market demand for our high-quality, flexible apartments, as well as the trust in our ability to deliver exceptional living spaces,” said Allan Vidor, managing director at TOGA.
“By accelerating the construction timeline, we are fast-tracking the supply of apartments into Macquarie Park, and the Sydney market. Our long-standing commitment to creating quality developments and unique experiences has resonated strongly with buyers, evidenced by the strong demand and interest in Macquarie Rise.”
The most popular apartment format have been one- and two-bedroom apartments with multipurpose rooms, reflecting demand for flexible living spaces.
Amenities at Macquarie Rise include a 20-metre lap pool, a club lounge with work and study areas, a pilates studio, gym, and cinema/karaoke room.
Residents will also benefit from close proximity to Macquarie Centre, Macquarie University, Macquarie University train station and the upcoming Metro line due to open in 2024.
“The sales success reflects the exceptional design and amenity of the project, combined with a great location that’s connected to Macquarie Park and key transport hubs. Toga has maintained a strong customer following based on past projects in this area,” said Anthony Falas, general manager of sales at TOGA.
“Macquarie Park continues to show strong fundamentals for both investors and owner-occupiers with its vibrant community and thriving neighbourhood,” said Falas.
As a result of this recent sales success, construction is now due to begin in the second half of 2024 with the project estimated for a late-2026 completion.
