CBRE Shepherds Bay sales pitch flops on Parramatta riverfront

Holdmark's latest Kingston Quarter, Shepherds Bay project at Meadowbank failed to match trend expectations when CBRE sought to sell 150 apartments on the weekend.

Just 65 of 150 the apartments sold on the first day of the launch in the Robertson + Marks designed offering.

Penthouses and split-level three-bedroom apartments were the most popular, according to Fairfax Media, with the highest price at $1.8 million.

One-bedroom apartments were selling at $610,000 or more.

The Shepherds Bay urban project, at Meadowbank, has some nine stages of residential development with an estimated dwelling cap of 2,005 dwellings. 

There were a reported three weekend offshore buyers requiring FIRB approval.

In July last year David Milton, managing director of CBRE residential, was selling Shepherds Bay one-bedroom apartments starting at $495,000, two-beds at $655,000 and three-beds at $845,000.

The Shepherds Bay site is located 14 kilometres north-west of the Sydney CBD and on the Shepherd’s Bay foreshore between Ryde and Meadowbank.

The site previously comprised part of the former Meadowbank Employment Area which is transitioning from manufacturing and light industrial uses towards the development of a high density mixed use neighbourhood.