High demand for ALAND’s new vertical village in Western Sydney, The Gladstone Village
After keen interest leading up to the official launch of The Gladstone Village in Merrylands, 32 units at ALAND’s new $800 million development were sold.
Over 150 units have now been snapped up after the Stage One sales event for the 2.5- hectare master-planned precinct, including 116 which had sold prior to the three-day event.
As one of the last remaining pockets along Sydney’s rail network to be developed, The Gladstone Village will include 365-apartments across three buildings - up to 20 storeys in height - with construction already underway.
ALAND CEO George Tadrosse said the success of the launch weekend is evidence that demand is still outstripping supply for quality apartments given the unprecedented pandemic-related roadblocks currently plaguing the construction industry.
“There is a tremendous amount of pent-up pressure in the Sydney apartment market and due to planning delays, as well as material and labour shortages, there are not enough new apartments coming onto the market to meet demand,” he said.
“Fortunately, ALAND is well-placed to deliver the much-needed stock for Western Sydney in the timeframe buyers are wanting it. Construction has begun on The Gladstone Village with delivery expected in the second half of 2023.”
Tadrosse added that the timely release of The Gladstone Village is good news for house hunters whether they’re seeking to buy their first home, upgrade, or invest.
“ALAND’s units have a solid track-record for success with a 0.5 per cent vacancy rate. There is a 4.9 per cent average yield for our apartments compared with Sydney’s average yield of 4.1 per cent. These impressive yields, combined with data showing Sydney apartment rents are rising, means it’s the ideal time to secure new property.”
By March 2022, ALAND estimated the expected rental return for a two-bedroom apartment at The Gladstone Village would be $520 a week, versus the Merrylands average of $460 a week and greater Sydney’s $495 a week.
The Gladstone Village is appealing to a large cross section of purchasers due to its diverse stock offering and range of price points. Of the 365 apartments available in Stage One, there are studios starting at $466,500, one-bedrooms priced from $544,000, two-bedrooms beginning at $599,000, and three-bedrooms from $819,000.
Unparalleled in Merrylands, The Gladstone Village has been designed featuring state-of-the-art finishes, spacious layouts, floor-to-ceiling windows, bespoke porcelain floors, stone bench-tops, Fisher & Paykel appliances, Grohe metal tap-ware and elegant fittings.
The resort-style amenities include a rooftop pool, communal barbecue facilities and vast landscaped open areas for residents, while the site will also contain approximately 2400 sqm of retail and commercial space as well as four-levels of basement parking.
The remaining stages of The Gladstone Village are yet to undergo planning with current controls allowing for a mix of retail, residential and commercial surrounding 5000 sqm of internal parkland and another 6000 sqm of open space.
Positioned within footsteps of Merrylands train station and Stockland Merrylands, The Gladstone Village is also just a short distance to the Parramatta CBD and within a short distance of Sydney’s city centre.