Repeat local purchasers and friends and family of current residents led the sales in excess of $85 million at the first official sales day of the Crest building at Woolooware Bay Town Centre.
Property owners exchanged contracts for Crest, part of the third stage of the waterfront site neighbouring the stadium and headquarters of landowner Cronulla Sutherland Leagues Club.
With 90% of the 118 apartments in Crest sold today, a selection of two-bedroom apartments and just two one-bedroom apartments remain on the market.
Designed by award-winning architects Turner and standing 15 storeys high with a wave-like façade accentuated by bronze features, Crest is the landmark building of stage 3.
With over two years since apartments were last available – all 55 apartments in the first stage 3 release, Pier, sold out in late 2014 – interest has been high in the latest release of the masterplanned community.
Prices for apartments in the Crest release ranged from $615,000 for a one-bedroom, $840,000 for a two-bedroom, and $1,750,000 for a three-bedroom apartment.
Downsizers, young professionals and first home buyers are among the first new apartment owners at the project.
For many it was just a short walk from their homes in Stage 1 of Woolooware Bay to complete the paperwork on stage 3.
“The first 50 buyers we had down here for stage 3 were repeat purchasers looking to upgrade or invest, or friends and family members of current residents who were invited down to take a look at joining them at Woolooware Bay” says Capital Bluestone Managing Director Ben Fairfax.
“We know that Woolooware Bay has lifestyle facilities unrivalled anywhere in the Shire, but what this really tells us is that people have embraced the community that is being built here, and they love it enough to tell others about it.”
“This is a testament to our focus on delivering a distinctive lifestyle-oriented environment, and creating a strong sense of community from the outset” says Mr Fairfax.
Ian Bennett, Director of Residential at Colliers International, says the success is a continuation of the trend of local buyers investing in Woolooware Bay.
“We are over the moon with the outcome, and, given a lot of the talk around market changes, this shows that the right product in the right area can still do very well in the current market.”
“The community spirit of the Sutherland Shire can be seen in the results. It’s always great to have referrals and repeat buyers, but this is significantly higher than what you see elsewhere Sydney. Everyone talks to everyone and it’s been a fantastic response based on that process.”
Of a total 118 apartments, a small amount are still available to the market. Crest includes 47 one-bedroom apartments, 65 two-bedroom apartments, five three-bedroom premium apartments, with details still to be released on the single penthouse.
The highest price paid was $1.8 million for a three bedroom, two bathroom and two carpark north-facing apartment on the 11th floor that has unobstructed views over the bay.
The lowest price apartment sold was a one bedroom, one carpark apartment on Foreshore Boulevard which faces west.
Today’s results mean the final two buildings of stage 3 – Links and Grove Terraces will come to market before the end of the year.
“With the outstanding success of Crest we are now bringing forward the release of the next stage, which will be the Links building and Grove Terraces,” says Mr Fairfax.
Stage 3 continues the town centre feel of Woolooware Bay. It offers a mix of housing choices and retail suites and at street level has been designed to create a vibrant and active new public space at the heart of the residential precinct.
Adding to the resort-style amenities already enjoyed by the residents of Woolooware Bay, Crest is crowned with a rooftop infinity edge pool with pool club and full-length windows to take advantage of the 360-degree district and water views across to the Sydney CBD skyline. Exclusive cabanas, lounge and dining spaces, barbecues, and a full catering kitchen complete the sky-high luxury.
Located less than five minutes from the famed Cronulla beaches, Woolooware Bay is a 10-hectare waterfront site that on completion will host 643 dwellings. Residents moved into Stage 1 in December 2016, while Stage 2 – Landings and Cove – is expected to complete early next year (2018).
The community already has a popular rooftop cinema, private spa, sauna, indoor lap pool and gym, and the lagoon pool is beginning to take shape as part of the stage 2 works. It will also include a new shopping centre precinct with major household anchor brands and a range of casual and fine dining options.
Revitalised parklands at the waterfront will also include a Livvi’s Place inclusive playground created in conjunction with the Touched By Olivia Foundation.