Yuhu's The Miller residential tower in North Sydney secures stage one sell out

Chinese developer Yuhu Group is considering an early release of second stage sales after its first project in Sydney - The Miller at North Sydney - saw all four top-floor penthouses being snapped up last weekend in stage one. 

All stage one contracts have so far exchanged hands, with sold prices for the four top-floor penthouses starting at $3 million and all going to local buyers. A 72 sqm two-bedroom north-east facing apartment sold for $1.5million, also to a local buyer, said a media release.

The $200-million residential project at 221 Miller Street was launched by Yuhu Group on March 19. The tower will have 21-storeys comprising 183 apartments and 100 serviced apartments.  

Ray White Projects is marketing the release of apartments.

Ray White Projects director Eddie Mansour said this was a strong sign for the Sydney market.

“Although there is a lot of speculation that the market is slowing, the quick sell out of our first release shows that there is still significant strength in the Sydney market, and high demand for quality apartments within the city,” he said.

“Interest in The Miller has been from a combination of both offshore and local buyers, with the first release of marketing material generating notable interest.”

The second release of apartments is scheduled for May, but the group may consider an earlier release after the response it got over the weekend.

Construction will commence mid-2016 with an expected completion date in 2018.

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