One apartment remaining as Sydney’s Elizabeth Street Eliza nearing completion

With completion scheduled for March, only one full floor apartment and the penthouse at Sydney’s Eliza development remain unsold.

Three full floor apartments sold before Christmas, and another two in the complex sold this week, with two more pending exchange. The building’s developers, Ceerose, expect that the final full floor apartment will be sold by the end of next week.

This week’s sales were negotiated by Nigel Napoli of Savills, with prices expected to have ranged from $4 million to $6 million. Savills and McGrath have achieved five sales for Eliza since marketing began in December.

According to Napoli, Eliza’s luxury apartments have been the subject of international interest.

"We are confident of exchanging on a further two full-floor apartments within days," said Napoli. "Of all the sales at Eliza to date, four have been to overseas purchasers so the development is receiving international acclaim."

Eliza, located at 141-143 Elizabeth St, was designed by architect Tony Owen. The building contains 19 apartments in total, with 10 two bedroom, two bathroom half floor apartments on the lower five levels. There are eight four bedroom, four bathroom full floor apartments, each with their own private lobby. The remaining 200 square metre full floor apartment is on level seven of the building. Eliza’s penthouse will be marketed once completed and fully furnished, with expectations of $15 million.

Napoli notes the prestige location of Eliza, which is situated among fine dining restaurants and fashion boutiques.

"The added bonus for Eliza purchasers is that capital growth of 'blue chip’'buildings in exclusive locations is more pronounced than for any other form of residential property," he said. Hamish Robertson, a director of McGrath, also commented on the development’s location.

"These apartments are in the heart of the Sydney CBD with Hyde Park acting as its front garden. There are not many major cities of the world that offer apartments with this outlook," he said.

Each apartment in Eliza includes a fireplace and full-height timber panelled walls, with limestone floors, calacatta marble benchtops and splashbacks and a walk in pantry in the kitchen.

jrichardson@propertyobserver.com.au

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