Stockland and MJH Multi have started construction on the $63 million Azure townhome series at Stockland’s Elara community in Marsden Park.
The new precinct within the highly sought after Elara community will offer high quality, affordable homes, which will have particular appeal to first home buyers looking to crack the rising Sydney property market.
Azure will include 176 architect-designed one, two, three and four bedroom homes ideally situated close to the future sporting grounds, St Luke’s K-12 Catholic School and proposed neighbourhood shopping centre at Elara.
The off-the-plan sales process received a very strong response from homebuyers with more than 85 per cent of Azure townhomes already sold. The remaining townhomes will be priced from $399,000 for a one bedroom with garage to $664,000 for a three bedroom with double garage and $739,000 for a four bedroom, double garage, freestanding home. All two bedroom townhomes have now been sold.
Nationally, Stockland sells approximately 50 per cent of its residential lots and completed homes to first home buyers. Stockland is positioning its townhome developments as an important part of its strategy to improve housing affordability in Australia’s major capital cities.
Ben Cantwell, General Manager Medium Density and Completed Homes at Stockland, said the new Azure townhomes offer exciting, affordable homes for first home buyers, downsizers and investors looking to enter the Sydney market in a high growth corridor.
“The high quality, modern design and excellent location of these townhomes have proved very popular with only 20 townhomes remaining. This is an outstanding result, which demonstrates the significant demand for well-located, medium density product within a high quality community.”
MJH Multi, a subsidiary of national home builder McDonald Jones Homes, has been contracted by Stockland to build the new townhomes.
Keith Stratten, MJH Multi Business Development Manager, said: “We are very excited to work on such a significant project in the area and continue our construction relationship with Stockland.”
“In terms of new, well located townhome projects in Sydney, they don’t get much bigger or better than the new Azure collection at Elara.”
Stockland’s Elara community is located 6km from the Schofields Train Station and 12 kilometres from Blacktown Station, providing a quick, convenient and economical commute to Parramatta and the Sydney CBD. Residents will also have easy access to the M7 Expressway, linking to the M2 and M4 motorways.
“It’s an exciting time at Elara,” Mr Cantwell said. “With new homes now coming out of the ground, Elara is proof that the Great Australian Dream is still alive and well in Sydney. Upon completion, Elara will include 12 hectares of parks and playgrounds, two schools, a shopping centre, sporting ovals and a community hub. We are also planning to create a retirement village within the Elara community. Residents will also have access to transport, local shopping districts and medical services all on their door step.”