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SHOKAI Ausbao launch Granville Place with great success, delivering something truly special in Sydney's West

People & Companies / Latest News

Australia / Sydney

Mar 12 2018

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On Saturday March 10, SHOKAI Ausbao and Develotek launched their highly anticipated $400M joint venture development in Sydney’s West, Granville Place. The mixed-use development is set to be one of the most desirable residential addresses in Sydney’s West.

Granville Place comprises three residential towers with DA approval for 618 apartments, large scale retail and commercial space, public parking, as well as a public park and Residents-only podium roof garden.

First stage release of 90 apartments today brought close to 50 sales within 3 hours of launch equating to approximately 55% sales generating a revenue of over $31 million.

Although most buyers participating were First home buyers taking advantage of Granville’s affordability there were also approximately 30% of property investors that also purchased an apartment.

Australian Regional Director of Shokai Group Mr Jason Gao said “I am very happy with the result given the current market conditions compared to that of two years ago.  Due to the growth of public infrastructure being offered in the Western Sydney corridor in particular focussing on Parramatta as the second CBD I am more confident in the future prospect of Granville and believe that Granville Place will compliment all aspects of what is being transformed.”           

David Lee, Director of Residential Project Marketing at Colliers International said  “The sales result achieved today is a direct result of how Granville Place sits in comparison to other projects within close proximity to Parramatta.  Affordability and the value proposition being offered to first home buyers is key to the success, it was also good to see an increase of property investors back in the market.”

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