Rare off the plan apartments and townhomes in Bowral hit the market
The Southern Highlands, around 110 kilometres south-west of Sydney, doesn't often have an off the plan development to talk about.
But Maeve is set to fill a gap in the market, offering something different to the grand garden estates and surrounding farms which are more typical of the area.
Located at 18 Kangaloon Road in Bowral, the hub of the Southern Highlands, Maeve will comprise just 12 apartments and 12 townhouses.
The three-bedroom apartments. ranging in size from 131 sqm to 179 sqm, will start from $1.7 million, and the three and four-bedroom townhouses, offering 221 sqm of living space, start from $2.2 million.
Reform Projects are behind the development, which will be built on the site of the former destination restaurant Biota which closed in 2020.
Maeve is Reform’s first project as builder developers after an solid track record as a renowned builder for Sydney’s most prestigious luxury boutique homes and apartments in areas like Palm Beach, Manly, Vaucluse, Double Bay, and Bellevue Hill.
Knight Frank's Luke Hayes believes Maeve will appeal to a wide range of buyers and will cater to all ages, rather than just the over 55s market which most developments or property in the area doesn't.
Hayes said there would be strong demand for homes in the project due to its rarity of the offering, the location, luxurious design and inclusions, as well as the sense of space.
“The generous sizing of the three-bedroom homes will have huge appeal,” Hayes said.
“This includes the fact that they are built on a large site, with the developer opting for fewer homes in favour of more open space to create an intimate and relaxed feel that captured that green, country outlook, rather than fitting more homes onto the parcel.
“With timeless architectural appeal, generous floor plans, luxurious finishes and leafy gardens, Maeve will appeal to a wide range of owner-occupiers.
“In particular the residences are a great option for rightsizers, which are those downsizing from a larger Southern Highlands house or estate, or Sydneysiders looking for a second home outside of the city and seeking a taste of the country life.”
Hayes said the rightsizing trend – downsizing to a luxury apartment and townhouse living – was becoming increasingly popular in lifestyle locations, as has been happening in the city.
Bowral-based Tziallas Architects designed the homes, with Chloe Matters Design the interior designer, with the residences designed to provide the best of country life in Bowral with a contemporary twist.
The three-level townhouses are a contemporary reinvention of the rural barn, featuring recycled brickwork and beautiful, black-stained cladding softened by cascading balcony gardens and verdant ground-floor landscaping.
Features include a private basement carpark and lift to a personal lobby and upper floors, wine cellar, feature fireplace, a large outdoor terrace and landscaped garden.
The single-level apartments will have a similar look and feel, with private open spaces in the form of generous balconies on the upper floors and access to beautiful gardens on ground floor apartments.Flexible floorplans for the apartments are available to accommodate the buyer’s preferred layout.
Bowral saw values for attached homes grow by 21.3 per cent in the second quarter of 2022, to record growth of 32 per cent over the past year.
“There is still activity in the lifestyle locations of New South Wales, despite a slowdown across Greater Sydney where attached home prices have remained steady for the past two quarters,” Hayes added.
“The length of time for an attached home being advertised in Bowral has averaged 149 days on the market over the past ten years compared to 66 days in Greater Sydney.
“However, the average number of days in the Bowral market has dropped to average 60 days in the past six months, while Greater Sydney averaged 66 days in this time.”
The homes in Maeve are expected to be completed by early 2025, with construction slated to begin toward the end of Q1/start of Q2 next year.