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Government halts high rise residential approvals in Ryde

Property Markets / Planning, Zoning, Infrastructure

Australia / Sydney

May 18 2018

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Following the NSW Government’s decision yesterday to put the brakes on future high-rise and medium density residential housing in the City of Ryde, CWG Development’s Stellar boutique development in the popular suburb now represents the last opportunity to buy a new apartment in a boutique complex within walking distance of Top Ryde Shopping Centre.

The decision to put the brakes on future development– led by Planning Minister Anthony Roberts – is driven by the government’s plans to allow infrastructure frameworks to catch up with Sydney’s strong population growth.

CWG Development’s CEO Dr. Ying Rao said that the halt on new development approvals in Ryde for the foreseeable future means that those who wish to live within walking distance of Top Ryde Shopping Centre will have far fewer options in coming years.

Located just minutes to Top Ryde Shopping Centre and village, Stellar, which is amongst the batch of recent projects to obtain DA approval by Top Ryde City Council prior to this announcement, has proven to be popular predominantly with local purchasers, including first home buyers.

The development’s 96 apartments are currently half sold, with early earthworks currently underway and a builder is expected to be announced next month.

“CWG’s Stellar is located on the corner of Victoria Road and Devlin Street in Ryde where road infrastructure is particularly good with ease of traffic flow and buses coming every few minutes - hence no local residents will be subject to delays or street congestion once the development – which also offers a car space for every apartment – is completed,” Dr Rao added.

“We have also elected to build boutique, rather than large-scale apartment buildings of a few hundred apartments as purchasers, especially owner occupiers are trending toward boutique offerings with an intimate sense of community.”

Ryde is well placed to accommodate a growing population in a sustainable manner compared to nearby Macquarie Park which is expected to roll out an additional 5,900 units in the near future.

Ryde City Council has given the green light on a multi-million-dollar revitalisation plan to redevelop the existing Ryde Town Hall facility and convert it into a City Hub comprising of pocket parks, an outdoor theatre and cycle paths, as well as a new civic hall and library. There will also be an onsite lifestyle precinct featuring cafes and restaurants as well as mixed-use developments for offices and retail.

Stellar comprises north and north-west facing apartment featuring high-end fixtures and fittings, panoramic district views and floor to ceiling windows to take full advantage of the abundant, natural light afforded to each residence.

CWG’s holistic approach to quality living is also reflected in Stellar’s position which is surrounded by parks and waterways, whilst also providing convenience through its close proximity to public transport, shopping centres and quality schools.

With completion due at the end of 2019, there are currently around forty apartments remaining for sale at Stellar, with one bedroom residences starting from $595,000 and two bedroom apartments starting from $795,000.

For more information, please visit www.stellarryde.com.au, call 1300 286 577, or visit the Display Gallery at Top Ryde City Shopping Centre, La Strada, Shop 3025 opposite Aussie Home Loans.

About CWG Development
CWG Development is the Australian property division of conglomerate CWG International, which is involved in residential and commercial development throughout China and America. The group entered the Australian market in early 2014 and listed on the Singapore Stock Exchange in August 2014.

Through thoughtful design and innovation, CWG Development produces distinctive luxury residential projects. The group recognises the importance of providing exceptional products and is committed to creating residences that resonate with and appeal to Australians.

Australian projects include:

• Elan, Epping (90 apartments, due for completion 2nd quarter 2018) – 1,2, and 3 bedrooms are available.
• The Uptown, Roseville (220 apartments, completed) 1,2, 3 bedroom apartments are available for sale.
• Illumina, Toowong, Brisbane (224 apartments,due for completion 2nd quarter 2018) – 1,2, and 3 bedrooms are available for sale.
• Vivir, Nundah, Brisbane (54 apartments, completed)
• LaPointe, Penrith (Master Plan circa 700 dwellings – planning stages)

For further information on Chiwayland Group, please visit www.chiwayland.com

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