Investors and downsizers flock to Archibald by ALAND
Sydney developers ALAND has seen strong interest in its Gosford development, Archibald by ALAND, with one-third of its apartments already sold.
The project, valued at $375 million, will include 323 residential units, 130 hotel rooms, food and beverage options, a pub, and a sky bar and lounge. Less than three months after its launch, 104 apartments worth over $80 million have been purchased, including $20 million prior to the launch.
Buyers include keen investors and downsizers, with local first-home buyers attracted by government schemes and owner-occupiers drawn to the project's affordability.
Designed by Place Studio, Archibald by ALAND is set to become a landmark in the area and a sought-after destination on the Central Coast.
Apartment prices range from $475,000 for a one-bedroom to $835,000 for a three-bedroom. Each unit features functional and spacious floorplans, inspired by the Australian coastline, with balconies and floor-to-ceiling windows offering views of Brisbane Waters and the city skyline.
ALAND CEO George Tadrosse said that the project’s unparalleled offering is also a major drawcard for eager investors.
“Archibald is the only project of its kind in Gosford, the level of amenity is unmatched, and residents will get that hotel lifestyle with access to resort-style facilities and beaches at their doorstep,” he said.
“We’re seeing many investors taking advantage of the growing population and new economic ventures in education, retail and health innovation in the area. It’s no surprise that investors have been quick to recognise this unique offering and its potential."
“With the NSW Government’s recent announcement to invest more than $23 Million in the Central Coast region, committing to a faster rail at Wyong and new university campus at Gosford, we expect another influx of interest across all buyer types,” said Tadrosse.
Project Sales Director Georgia Scanlon said ALAND’s sales to date are indicative of the demand of the Central Coast market, observing that lifestyle continues to hold strong appeal.
“The Central Coast market continues to perform despite broader market sentiment, offering buyers an affordable coastal lifestyle that is hard to match anywhere else in regional NSW locations. The Northconnex has allowed the coast to become a part of greater Sydney in the same way Western Sydney has.”
“We’re seeing a lot of local downsizers come from The Hills and Northern Beaches along with first home buyers who are out priced in Sydney. Essentially everyone is chasing a lifestyle only a stone’s throw from Sydney and the CBD,” added Scanlon.
The project is scheduled for completion in Q3 2024 and will offer unique features and easy access to the region's beaches and amenities.