About 40% of Olympic Park's ATII tower sold soon after marketing starting gun sounds

About 40% of Olympic Park's ATII tower sold soon after marketing starting gun sounds
Cassidy KnowltonDecember 8, 2020

Developer Ecove has sold 111 of the 270 apartments of stage two of its Australia Towers development at Olympic Park less than two weeks after the stage launched on April 21.

Most buyers have purchased the larger two-, three- and four-bedroom units, and Colliers International residential project marketing general manager David Chittenden says most are owner-occupier upgraders from Sydney's inner west and the Hills District.

“What these sales have shown is that not everybody is an investor on a downsizer,” Chittenden says.

Stage one of the development (pictured below), which is now complete, has sold 209 of the 216 apartments.

Stage one launched in early 2010, and construction finished a few weeks ago. Almost 80% of stage one sold within the first few weeks of the 2010 launch.

The second stage, called ATII, will be 25 storeys and is the second of three planned stages. It will have 95 one-bedroom apartments ranging from $450,000 to $595,000 and from 54 to 71 square metres internally, 132 two-bedroom apartments with between 77 square metres and 122 square metres of internal space and priced between $585,000 and $1,085,000, 26 three-bedroom apartments of between 103 and 159 square metres each ranging from $900,000 and $1,565,000 and 14 four-bedroom units, which will range from between $995,000 and $1.76 million and between 141 and 181 square metres internally. Every apartment will have at least one car space.

“Lifestyle is the major reason ATII has been so popular," Chittenden says.

"Many people want to take advantage of the sporting and entertainment facilities on their doorstep, the 430 hectares of parklands, the 35 kilometres of bike tracks, and the 32 restaurants, cafes, bars, and speciality retailers.”

Olympic Park is a new 640-hectare Sydney suburb about 15 kilometres west of Sydney CBD and became an official suburb in 2009. The locality was part of the suburb of Homebush Bay and was redeveloped for the 2000 Sydney Olympics. More than 5,000 events are held at Blaxland Riverside Park in the suburb every year, and about 500 permanent residents now live there. There are more than 130 businesses in the suburb.

Architectural firm Bates Smart has taken a cue from the nearby stadium precinct for the design of ATII.

“We’ve given the building ‘gills’ so that it can breathe,” says Bates Smart director Philip Vivian. “Vertical slots on the northern and southern sides of the facade encourage natural airflow through the apartments and the communal spaces.

“The design maximises light into each apartment, and horizontal sun-shading bands circling the building in varying depths provide added protection to the north.”

Colliers estimates that one-bedroom units will rent for between $500 and $575 per week and that two-bedroom units will command rents of between $600 and $800 per week. For the pricier, larger apartments, Colliers estimates that the three-bedroom units will rent for between $700 and $1,000 per week, and that tenants will pay between $1,000 and $1,500 per week for the four-bedroom units.

Construction is expected to start on ATII in mid-2012 and finish in early 2014.

 

 

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