20 per cent sales success at Eighty Eight O’Connell, North Adelaide’s Le Cornu apartment project

Eighty Eight O’Connell, North Adelaide’s Le Cornu site project has seen 20 per cent of the $250 million project find buyers as marketing begins.

The majority of interest has come from local residents ahead of the opening of a display suite after the state’s planning body approved the plans in June.

Premier Steven Marshall opened the display suite with 500 guests attending the launch.

The Adelaide-based developer, Commercial & General said the majority of the 1600 registrations of  interest came from North Adelaide residents.

Construction is set to get underway in the first half of next year.

The development, designed by architect Woods Bagot, includes two 13-storey towers and one 15-storey tower accommodating retail and commercial space.

There will be 160 residential apartments listed through Klemich Real Estate and Toop and Toop.

Some 20 per cent of the value of the project has been sold in Eighty Eight O’Connell, Commercial & General executive chair Jamie McClure said.

Prices start at $1.2 million for two bedroom apartments and $2 million for its three bedrooms.

The penthouses are priced up to $10 million.

The 7500 sqm site at 88 O’Connell Street has been vacant for three decades.

The project is on land purchased by the Adelaide City Council for $34 million in December 2017 with a $10 million State Government grant.

Last December, the council confirmed it had selected Commercial & General as its development partner.

Established in 1997, Commercial and General has had $2.2 billion in projects delivered or under development.