$100M in property snapped up at Woolooware Bay VIP Launch
Sharks skipper Paul Gallen was an interested observer as he joined first homebuyers, young families, downsizers and retirees at the VIP launch of the Woolooware Bay town centre and residential community development
While Gallen has shown an interest in perhaps investing in property at some time in the future at Woolooware Bay, , however on this occasion he watch on as buyers snapped up more than $100M in property at Sydney’s newest waterfront town centre and residential community
The project, which is situated adjacent to Remondis Stadium and Sharkies Leagues Club and is to be delivered by developers, Bluestone on land owned by the Cronulla Sutherland Leagues Club, exchanged contracts on more than $100M of property (177 of 220 apartments), at its VIP launch on the weekend.
The first of its kind for the area, the project sits on a 10-hectare site on the shores of Woolooware Bay, and is to include approximately 600 apartments, a revitalised Sharks Club and a 17,700sqm retail and medical centre.
Prices range from $450,000 for a one-bedroom, from $575,000 for a two-bedroom and from $860,000 for a three-bedroom apartment.
Bluestone Managing Director Ben Fairfax said interest from the local community had been overwhelming, with 95% of sales made to local buyers, so much so that the original release – Esplanade, a building of 91 apartments – had been extended to include Pavilion (47 apartments) and Sea (82 apartments).
“We had a large amount of interest from the local community when the vision for the master plan was first unveiled. The enquiry has continued to grow as the project moved through its planning and approval process and our purchasers today have waited patiently for the first chance to buy.
Mr Fairfax said the level of interest grew exponentially in recent weeks.
“The sales team had taken 2000 registrations of interest, including more than 200 over Christmas, which is almost unheard of for the holiday period.
“It’s been a very pleasant surprise. Getting to this point has been a long journey and we’re just delighted to see it really coming to life now and that it’s meeting a real need in this area for a well-planned, well-designed integrated community that includes affordable apartment living,” he said.
Damian Keogh, Chairman of landowner Cronulla Sutherland Leagues Club, said the project was generating much excitement in the community.
"We are delighted with the success of the early sales, the feel good factor for the area with the development, and the volume of local buyers in the first release which we see as a great endorsement of the overall project. The Woolooware Bay Town centre will provide an enormous boost for the Club, and help underpin the future for the Sharks Group."
Registrations of interest are now open for the next apartments in the Waterfront Release facing Woolooware Bay.
Apartments throughout the project have been thoughtfully designed to maximise available space and optimise light. The floorplans are functional, comfortable and in keeping with the coastal nature of the location, interiors feature warm timber laminates, bespoke feature panels and thick reconstituted stone benchtops.
Coastal lifestyle and location is key to the Woolooware Bay charm, with this first stage just a brief walk to Foreshore Parklands, the Remondis Stadium, and the Bay Central retail centre integrating supermarkets, fresh food marketplace, medical centre, specialty stores and dining precinct.
Within the development, residents of Woolooware Bay will enjoy the use of exceptional shared facilities. In addition to the rooftop Sunset Cinema and W Club, The Deck with lagoon pool and barbecue area will provide private sanctuaries for residents with cabana-style seating and lounge furniture.
Bluestone Capital Ventures No 1 Pty Ltd (Bluestone) is working with the Cronulla Sutherland Leagues Club to bring Woolooware Bay to life. Bluestone has provided development expertise to private and institutional clients throughout Australia in all sectors including integrated mixed use master planned estates, residential, industrial and commercial, land subdivision and investment management. The key people within Bluestone have been involved in major redevelopment of waterfront sites including Woolloomooloo Bay Wharf, Rhodes Waterside, Balmain Cove in Sydney’s Inner West and major town centre developments such as Norwest Business Park.