TOGA's Macquarie Rise apartment development sells 50% of first stage release
TOGA has secured 70 sales at its new Macquarie Park apartment development, Macquarie Rise, accounting for around 50 per cent of the first stage release.
Construction will begin in the second half of 2024 on the Herring Road development which will comprise three residential buildings, ranging from 12 to 14 levels with 265 apartments.
Allan Vidor AM, Managing Director at TOGA, said TOGA's long-standing commitment to creating quality developments and unique experiences has resonated strongly with buyers.
“The sales success reflects the strong market demand for our high-quality, flexible apartments, as well as the trust in our ability to deliver exceptional living spaces," Vidor said.
"By accelerating the construction timeline, we are fast-tracking the supply of apartments into Macquarie Park, and the Sydney market."
The development has attracted a diverse range of buyers, including owner-occupiers, first home buyers, families looking to upsize, and downsizers. Most of the buyers are locals, residing within a 10km radius of Macquarie Park, and are primarily interested in being close to amenity and transport.
The most popular product types have been the one and two-bedroom apartments with multi-purpose rooms, giving the opportunity for a study, music room or nursery, reflecting the market's evolving need for flexible living spaces.
Macquarie Rise offers residents unparalleled access to Macquarie Centre, Macquarie University, Macquarie University train station and the upcoming Metro line due to open in 2024. The development is replete with exceptional lifestyle amenities, including a 20-metre lap pool, a club lounge with work and study areas, a pilates studio, gym, and cinema- karaoke room.
TOGA's General Manager of Sales, Anthony Falas, said the sales success reflects the exceptional design and amenity of the project, combined with a great location that’s connected to Macquarie Park and key transport hubs.
“Macquarie Park continues to show strong fundamentals for both investors and owner-occupiers with its vibrant community and thriving neighbourhood," Falas said.
Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of $375 million and is expected to be completed by the end of 2026.