More than 260 of 350 apartments released in stage two sold in less than two hours on the weekend at property developer JQZ’s ‘Prime’ development in Macquarie Park.
More than 300 buyers attended the sales launch, helping to account for 75% of the stage two release being sold.
The prices paid by the majority of local buyers for one-bedroom apartments was $650,000 to $800,000, while two bedrooms ranged from $980,000 to $1.3 million, and three bedrooms from $1.38 million.
With sales in other areas of Sydney starting to soften, this strong sales result reinforces Macquarie Park as one of Sydney’s major property hotspots, in line with predictions from Smart Property Investment, who in late 2016 described the suburb as one of the city’s “most desirable locations” when announcing their Top 10 Sydney suburbs for 2017.
“The unique location of this project makes it an exceptional offering,” JQZ CEO Jian Qiu Zhang said.
“It will literally be positioned right next door to the prestigious Macquarie Centre, so there’s also an amazing opportunity to offer the ultimate in shopping convenience for residents.
“It’s also just minutes’ walk to the Macquarie University and Macquarie University Train Station, while a bus stop will also be right on the doorstep.”
Delivered under a joint venture partnership with the Hong Kong-listed property developer Redco Properties Group Limited, interest in Prime has also strengthened after the recent announcement of a pedestrian bridge directly connecting the Prime development to the Macquarie Centre next door.
The bridge, which is currently awaiting DA Approval, will assist in providing residents the ultimate in lifestyle offerings and convenience, right in the heart of Macquarie Park, in what has been predicted to become Sydney’s fourth CBD.
The development will ultimately feature 680 apartments in one, two, three and four-bedroom (penthouse) configurations across four towers, each 20 storeys high. The four towers have been arranged to maximise sun access as well as local and district views.
Despite most developments in Macquarie Park facing challenges of achieving good solar access, this project has been designed to ensure substantial solar access in the public and communal areas.
Each tower will sit on a four-storey podium and be surrounded by a central courtyard, while there will also be communal rooftop residents-only garden spaces. Amenities will include a viewing platform overlooking the central plaza, a landscaped reading and meditation space, a 25-metre heated undercover pool and an adjoining spa and gym.
The central garden, complete with barbeques, will be unique in Macquarie Park, while each penthouse will even have internal stairs to access its own private rooftop garden.
Rain water will be collected from the roof tops to irrigate the podium garden and for use in the car wash bay, while passive solar will also be used in the development.
The ground floor will be recessed to create a plaza area to activate the street front and provide an extension of the Macquarie Centre retail experience. This will include restaurants, cafes and alfresco dining, a children’s water play area and public art. It will be a landscaped public domain area and provide an important extension of the shopping centre.
JQZ’s own in-house construction team is expected to commence building works in late 2017 to ensure the high-quality construction standards the company demands are achieved and delivered on time.