Waterfront property development sales indicates hot Lake Macquarie property market
The Lake Macquarie property market continues to run hot says PRDnationwide Lake Macquarie Residential Sales Consultant Paul Ashcroft given the overwhelming interest in the Water’s Edge development at Warners Bay.
Mr Ashcroft says only months after the initial marketing launch of the 112 apartment complex more than 60% are sold.
Water’s Edge will be located on the former BP service station site fronting King Street and The Esplanade. The $80 million dollar project comprises one, two and three bedroom residences, approximately 200 car parking spaces as well as limited, groundfloor retail and commercial spaces. Construction is expected to start in February 2018. It is being marketed by Newcastle New Projects, a division of PRDnationwide Newcastle & Lake Macquarie.
“Warners Bay has been such a well-kept secret but the foreshore rejuvenation and the array of great cafes and restaurants, means the development has attracted national as well as local buyers,”
Mr Ashcroft says.
“Our most recent Lake Macquarie property market research report, released in December, shows now is the time to get into the local market with median apartment prices for the local government area having increased by 8.4% to $450,000.”
He says it is the location as well as the quality of the Water’s Edge development that has buyers flocking to sign contracts. The development is by award winning construction company BLOC.
The firm is also behind The Foundry at Adamstown and is building Verve Residences in Newcastle West.
“BLOC, will design and finish the residences to set a new standard.”
“Every apartment has either uninterrupted lake views that will never be built out or a sun drenched balcony overlooking the resort style pool deck.”
“Water’s Edge will be a “jewel in the crown” of a suburb that is becoming Lake Macquarie’s most desirable lifestyle hub.”
BLOC Director and Design and Business Development Manager, Andrew Redwin says the team at Newcastle New Projects has delivered results for the project.
“We look forward to delivering this superb set of apartments to buyers, setting a new benchmark for design and quality,” Mr Redwin says.