Alexandria development Cargo Lane offers one- and two-bedders below $600,000 threshold

Cargo Lane, a new development in the Sydney suburb of Alexandria, is offering owner-occupiers and investors one- and two-bedroom options that fall below the NSW government’s $600,000 stamp duty exemption threshold.

The NSW government’s home builders’ bonus provides full exemption on stamp duty for new homes valued under $600,000 and expires on July 1 this year.

The BridgeLane Property Group development will comprise one-bedroom apartments from $475,000 and two-bedroom, two-bathroom apartments ranging from $599,000 to $700,000. Some have car spaces, and some of the one-bedroom units include studies.

Sales started about a week ago, and 12 deposits have been taken so far.

BridgeLane Group head of property development Anthony Andreatta says the buyers have primarily been young couple owner-occupiers, with a few investors. The project is being marketed by CBRE.

"We have had an overwhelming response," Andreatta says.

"We are providing a high-quality boutique apartment building, located nearby to Alexandria Park, which in the current market it is a rarity in the inner east, which is dominated by large-scale high-rise projects." 

The 34-apartment development is three kilometres from Sydney CBD and is within an easy stroll of Danks Street, transport and Alexandria Park. It will also include eight prestige three-bedroom multi-level terraces, yet to launch, which include lap pools and landscaped courtyards (pictured below). These eight all include garage parking.

Cargo Lane’s façade will have a distinctive vertical garden and timber screens.