Liverpool’s The Point has late-February sell out expectations
The Point, a new high rise development in New South Wales' Liverpool, has expectations to be sold out by late February or early March, with a limited number of one-, two- and three-bedroom units left for sale.
Project marketer for the development, Sam Elbanna of CPM Realty, said that buyers in The Point have been a strong mix of investors, owner-occupiers, seasoned veterans and first time buyers, with the broad lifestyle appeal helping with a sale of more than 90 of 126 apartments.
The first stage of sales sold out on the opening day in Liverpool. The south-west Sydney suburb is next to Campbelltown, Fairfield and Sutherland.The popularity may be, in part, due to the status of The Point as the first residential tower for Liverpool, at 4-6 Gillespie Street. It is expected to be complete in mid-2015.
The $49 million development will have 12 floors and a supermarket on the ground floor, with prices spanning from $256,000 to $375,000. Sizes range from 55 square metres to 145 square metres.
The median unit price in Liverpool is currently $283,500, according to RP Data, with the median asking rent sitting at $330 per week, providing an indicative gross rental yield of 6.1%. Liverpool has long been on the investor list for lower priced units and higher yields.
Elbanna pointed to transport opportunities, a nightlife scene and amenities as being particularly attractive to younger buyers and families.
“Each unit encompasses the chic lifestyle of the inner city, while at reasonable prices,” he said.
Construction is scheduled to commence this month, with completion expected for mid next year.
Features include air conditioning, underground car parking, SMEG appliances and mirrored built-in wardrobes.
Last year, Quest Serviced Apartments also expressed interest in the Liverpool area.
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