Starryland's Promenade No. 2 sells over 100 apartments on launch morning‏

Starryland's Promenade No. 2 sells over 100 apartments on launch morning‏
Starryland's Promenade No. 2 sells over 100 apartments on launch morning‏

More than 100 apartments were snapped up within three and a half hours at the recent launch of Parramatta’s Promenade No. 2 development.

A total of 198 apartments made up the first release of the $314 million project located on the Parramatta River.

While the display suite doors didn’t open until 8.30am, eager buyers lined up from 6.30am, ready to snap up a one, two or three-bedroom apartment with prices starting from $518,000.

The apartments released were less than 200 of the 505 units that will make up Promenade No. 2.

CBRE managing director David Milton said the project had seen interest from both owner-occupiers and investors with the former making up 60 per cent of the day’s sales.

“There was a lot of local interest and a lot of interest from the greater Sydney area,” Mr Milton said.

Promenade is being developed by Starryland Australia, a local division of China-based company Fuxing Huiyu Real Estate.

Starryland’s executive director Hao Liu said the company took an interest in Parramatta because of its commercial nature landscape with an aim to transform it into a residential city.

Communal spaces will include 1.2 hectares of landscaped gardens, an artificial beach and water fountain on the banks of the river, a raised landscaped leisure zone with river views, trees with large potted plants and expansive timber decks.

There will also be a multipurpose communal pavilion, barbecue facilities and a retail plaza.

Promenade No. 2 has an expected completion date of early 2018.

Tags: 
Property Development Apartment Sales

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