Apartment purchasers still very active at new 88, St Leonards development

Apartment purchasers still very active at new 88, St Leonards development
Apartment purchasers still very active at new 88, St Leonards development

Eighty Eight, a $1.6 billion mixed-use development in St Leonards, had over 200 people attend its sales launch last week.

70 percent of the 180 Stage 1 apartment sold on the day.

The three tower development by Sydney-based Chinese developer JQZ is being marketed by Sunny Properties Group.

JQZ paid $295 million for the site last year, beating out the likes of Mirvac and Meriton who showed interest.

Apartment purchasers still very active at new 88, St Leonards development

Opposite St Leonards train station, the Christie Street development will comprise two residential towers of 47 and 26 storeys, holding 654 apartments in total.

It will include one, two and three bedroom apartments, as well as five five bedroom penthouses featuring their own private lifts. 

There will also be a 15-storey commercial and retail building fronting the Pacific Highway.

The project will commence construction in August, with completion expected by 2022.

Apartment purchasers still very active at new 88, St Leonards development

According to Sunny Wu, managing director of Sunny Properties Group, the level of interest in Eighty Eight is proof positive that apartment buyers are still active in the Sydney market.

“While in some respects the Sydney apartment market has flattened out a little, we’re finding that quality projects with first-rate amenities are still attracting plenty of attention – and Eighty Eight By JQZ is a perfect example,” said Wu.

“All apartments will enjoy amazing views, while residents will also have access to a rooftop pool, a lively ground floor laneway retail and dining precinct, a major supermarket, and the future St Leonards Public Library.”

Designed by leading Australian architects PTW, Eighty Eight By JQZ will feature a 30,000 sqm combined commercial and retail space, and will adjoin the future St Leonards open-air civic plaza, which will branch out over the neighbouring railway line.

Mrs Wu said the timing of the sales launch was also important in terms of garnering significant buyer interest.

“We’ve deliberately timed the launch of Stage 1 sales at Eighty Eight By JQZ to coincide with Chinese New Year celebrations, capturing international buyers who are enjoying Sydney’s warmer weather during the Chinese winter.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Apartment Sales St Leonards

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