Botanic Lane Cove 75% sold as construction commences

Construction on Botanic Lane Cove has now commenced, as apartment sales reach 75%.

Developed by Greenbush Group, Botanic Lane Cove has sold 60 of its 79 apartments after the development launched in February this year.

“We’ve been pleasantly surprised by the incredibly high level of interest,” says Peter Walsh of Greenbush Group.

“We’ve found that the majority of our buyers are owner-occupiers, but investor interest is solid too.

“While we’ve had a lot of local interest, Botanic has also captured attention from buyers in country New South Wales wanting a Sydney base, and also expats returning to Australia,” says Walsh.

Located less then 10 kilometres from the Sydney CBD, Botanic offers studio, one-, two- and three bedroom apartments as well as seven penthouses.

Two-bedroom apartments are still available starting from $831,000 and three-bedroom apartments are also available, starting from $1,107,000.

Walsh says Greenbush Group expects the remaining apartments to be snapped up quickly.

The apartments boast oak floors and Carrara marble in both the kitchen and bathrooms.

The project is designed by Mijollo International with interiors designed by SJB Interiors.

Walsh says the name Botanic was chosen due to the complex being bound by large mature trees and landscaped gardens.

“We wanted to achieve a sense of garden by tying in the name,” says Walsh.

The median apartment price in Lane Cove is $545,000, a 23.3% change in five years, according to RP Data.

The development is expected to be completed towards the end of 2014.

Lane Cove is proving to be a development hotspot with $388 million worth of construction underway and more than $37 million yet to come.