Manly estate fast tracks 17 luxury homes following buyer demand
Following the demand of the first release of apartments and townhomes in the harbourfront estate Spring Cove, the second release of 17 luxury homes has been fast tracked.
Located in Manly, the 2.7-hectare estate by Denwold Group and Oakstand Property Group released the first stage of 16 two- and three-bedroom apartments and five two-storey townhomes off the plan in September.
Purchasers from the local Sydney market snapped up 19 properties, with only two town homes remaining.
Apartments were priced from $1.85 million to $3.5 million and the town homes were priced from $2.95 million to $3.2 million.
“We are thrilled with the strong interest from high end local Sydney buyers and subsequent sales results, which are testament to Spring Cove’s extraordinary locale and seamless integration with the surrounding area,” says David Cullen managing director of Oakstand Property Group
The second stage comprises of 17 luxury homes priced from $4.5 million to $6 million.
Internal areas range between 271 square metres to 391 square metres and feature under-floor heating, stone floors and miele appliances.
The Spring Cove estate is located in one of the last remaining parcels of untouched harbourfront land in Sydney.
“Manly is an iconic Sydney location with a community of family oriented beach lovers and surfers,” says Cullen.
“Locals can embrace the peace and serenity, enjoy the varied lifestyle amenities of vibrant Manly, and easily commute to the CBD on ferry - all of which are strong attributes that are driving buyers to purchase in the area.
“Spring Cove is a once in a lifetime opportunity to live in a unique and luxurious coastal community overlooking the world-renowned and highly-coveted Sydney Harbour,“ says Cullen.
The team behind Spring Cove has taken a “minimum intervention” approach to ensure the estate integrates within the ecosystem without upsetting its balance.
Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.
The median house price in Manly is $1.72 million, a 16.2% change in the past five years, according to RP Data.
The median apartment price in Manly is $760,000, a 17.8% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
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