Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Four remaining apartments significantly reduced to meet the market at One A Erskineville

People & Companies / Latest News

Australia

Nov 26 2018

Add to Favorites

Share this Article:

Amidst all the doom and gloom concerning the state of the Sydney residential market, there are still some outstanding opportunities for investors and owner occupiers. In the case of One A, a newlycompleted building, comprising 175 apartments, located one block from Sydney Park and neighbouring the exciting new retail precinct currently under construction on Mitchell Road in Erskineville, only 4 apartments remain unsold including the Penthouse.

The 3 bedroom, double-storey penthouse, which has 231 sqm of living area, 2 car spaces and substantial storage, was purchased by an off-shore Chinese purchaser via Ausin, who was unable to settle. It has been kitted out for the penthouse buyer – with two integrated double-door fridges in the chef’s kitchen, motorised blinds and gas bbq on the extensive North-East facing patio, which offers views of the city.

The price of this apartment, and of the other 3 apartments have been significantly reduced to meet the market.

They also present good value when compared with similar sales in the area, such as the three bedroom, two storey Park Terrace in HPG’s One Sydney Park for a reported $3.12m earlier this year.

Dr Andrew Wilson, Chief Economist for My Housing Market stated, “Despite weaker overall market conditions this year, the popular inner west suburban region continues as a top regional performer in Sydney with solid auction clearance rates and relatively steady price growth.”

“Larger 2 and 3-bedroom apartments however remain in relatively short supply accounting for a small percentage of all units currently listed for sale in the inner west - and likely to be absorbed
sooner rather than later despite overall current flat market conditions. The ongoing popularity of units in Sydney has resulted in apartments consistently outperforming houses and producing higher auction clearance rates and significantly better price growth outcomes” comments Wilson.

“Lower clearance rates and falling home prices have impacted confidence with wary buyers and sellers increasingly sitting on the sidelines. The underlying drivers of the Sydney housing market
however remain inarguably strong with continuing near-record high migration levels, surging first home buyer activity and a booming economy with low and falling unemployment rates and robust
jobs growth producing clearly the best results of all the state capitals” adds Wilson.

“Sydney remains the jewel in the capital city housing market crown with inner-suburban locations continuing to attract buyers – particularly for units – offsetting the current generally fragile confidence that is set to recover sooner rather later reflecting the underlying strength of the local market.”

Adding to its appeal, One A will soon be fringed by a beautiful village park, grand tree-lined streets and a new local retail hub as one of the City of Sydney’s biggest urban development projects, the Ashmore Precinct, comes to life.

The 17-hectare site will become a new residential neighbourhood and will eventually be home to approximately 6,000 residents, as development is staged over the next 10 years. The redevelopment will see South Sydney transition from a highly industrial area to a desirable residential suburb.

David Milton, Managing Director, CBRE Residential Projects said, “The penthouse is a rare opportunity in the growing suburb which is attracting young families, professionals and downsizers alike. One A has achieved remarkably consistent sales since its launch, with 171 of 175 apartments sold. Its success is a result of locally established developers, Abacus Property and Linear Group, with a proven track record for delivering outstanding products as promised from day one. They have focused on bringing a development firmly aimed at buyers to the market that embraces superior design and finishes.”

In addition to the Penthouse, the 3 other apartments are available for sale include:

• 1 bed plus study, 1 bath 53sqm plus 11sqm balcony. Easterly aspect from $720k
• 1 bed plus study, 1 bath, 57sqm internal space plus 8sqm balcony from $720k
• 2 bed, 2 bath, 1 car 76sqm internal plus 7sqm balcony, North Facing From $1,050,000

SOURCE:

img

You may also like...


Load More

bannerImage
bannerImage

Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.

SIGN UP HERE >