Centric Strathfield's weekend launch success - handful of penthouses remain

Centric Strathfield's weekend launch success - handful of penthouses remain
Centric Strathfield's weekend launch success - handful of penthouses remain

Strathfield’s newest residential development, marketed as a "one-of-a-kind for the up and coming area", Centric Strathfrield from Lumex Property Group launched on Saturday achieving a high number of sales - currently just a few of the penthouses remain.

The swish launch at the display suite on 9-13 Parnell Street, just a two minute walk from the station, saw tuxedo-wearing staff members welcoming a large crowd into the development. While many of those looking to buy were of Asian appearance, Property Observer notes that the majority seemed to be local buyers – some moving from other areas of the inner west. Despite this, some investors were present.

Centric Strathfield's weekend launch success - handful of penthouses remain

Halfway between Parramatta and the city (less than 15 kilometres from both), the apartments launched to considerable success.

Just over halfway through the 8am to 10am launch, a CBRE marketing representative said that just six of the 57 one and two bedroom apartments were remaining. Prior to the commencement of the launch, a sell out was anticipated.

Centric Strathfield's weekend launch success - handful of penthouses remain

Centric Strathfield has positioned itself towards the owner occupier market, looking to offer top end finishes. Most apartments have northerly orientations, with winter gardens and terraces. All come with basement car parking and separate storage, as well as lift access.

The roof terraces offer CBD and Harbour Bridge views.

Spanning eight residential floors, and a commercial space at ground level, 51 square metre to 59 square metre one-bedroom apartments were being sold from $629,000. One bedroom and a study, 59 square metres, were selling from $685,000. Two bedrooms, from 71 square metres to 88 square metres were selling from $780,000.

The majority of the available apartments, 29 of them, were two bedrooms, with 24 one bedrooms and four one bedroom plus studies.

According to RP Data, the median price currently recorded for a Strathfield unit is $570,000, with a median advertised weekly rental price of $500 per week. The median unit price has significantly increased over the past year, profiting in on the growth seen across Sydney.

The designs, from SJB Architects, were also said to be a major drawcard for the interest in the development. Within the apartment building, there will be a number of community areas – including a roof top garden and an atrium lobby.

The properties themselves include limed European oak floors, AEG appliances and integrated banquette seats.

The display suited had been open from 5 July for interested viewers before the launch on 19 July.

Construction on Centric Strathfield is expected to be finished by mid-2016.

How do property developers sell out mega residential projects? Where can financial planners find off the plan projects on one website? And what is all the fuss about with China?

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Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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New Developments Sydney

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