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New Embassy Tower in St Leonards proves a speedy sell.

The Property Addict / Distinct Dwellings

Sep 04 2016

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Editorial by Maggie Kelly Blink and you'll miss it. The Sydney residential market has proven itself this past weekend to be robust and competitive, with the highly anticipated Loftex development, 'Embassy Tower' selling 145 of their 205 apartments in just a matter of hours this past Saturday 27th August. According to Ben Stewart, Director of CBRE residential projects, "the location of the project but also the quality of developer, Loftex" is what caused hundreds to queue down the street in the early hours of Saturday morning in an effort to secure an apartment in the development. And little wonder. The glimmering addition to Sydney's North Shore has 29 levels of stunning harbour views and an enviable inner-city location. "The mixed-purpose location will boast commercial office spaces and residential apartments, with the majority of buyers looking to call it home", said Ben. "Buyers were impressed with the convenient location of Embassy Tower, set in a residential area off the main highway. Many were looking for the views Embassy Tower provides in addition to the large retail offering of the suburb," he said. "Most of the buyers were owner occupiers who are coming from the North Shore line around areas such as Lindfield, wanting to be in close proximity to the city." Embassy Tower has been developed by Loftex, and designed by Nettleton Tribe architects. It will have 205 apartments with pricing started for 41sqm studios at $601,000, 2 bedrooms $1.2 million and three-bedroom apartments starting at $1.695 million. The ultra-modern apartments feature crisp design and spacious interiors, with exceptional views out to the Sydney Harbour Bridge and beyond. Loftex was also behind the Sugarmill warehouse conversion in Camperdown, and earmarked this site more than six years ago due to its prime setting near the train station. In addition to Embassy Tower, Loftex will contribute funds towards the construction of a proposed public plaza over the railway line. With a gross value of $285 million, Embassy Tower offers one of the most enviable locations in St Leonards. On a quiet tree-lined residential street, it will also benefit from the proposed new public plaza to be built over the railway, which will provide new direct access to the station. You can see more of the Loftex Embassy Tower http://embassytower.com.au For more information, contact Ben Stewart of CBRE Residential Projects on Ben.Stewart@cbre.com.au [caption id="attachment_3962" align="alignnone" width="1152"]Embassy Tower. (Image via Loftex) Embassy Tower. (Image via Loftex)[/caption]   [caption id="attachment_3963" align="alignnone" width="1280"]Embassy Tower. (Image via Loftex) Embassy Tower. (Image via Loftex)[/caption]   [caption id="attachment_3964" align="alignnone" width="1280"]Embassy Tower. (Image via Loftex) Embassy Tower. (Image via Loftex)[/caption]  

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