Investors and downsizers flock to Archibald by ALAND
Leading Sydney developer ALAND has sold one-third of apartments at its vibrant central Gosford development with keen investors and downsizers making up the first wave of new apartment owners.
A total of 104 apartments, valued at a total of more than $80M, have now been snapped up less than three months since Archibald by ALAND launched to the market, including $20M which had sold prior to the launch.
A landmark for the area, the $375 million project sits on a 5,656sqm site at 108 Donnison Street, Gosford. The project will include 323 residential apartments, 130 hotel rooms, multiple food and beverage offerings, 2000sqm ground floor pub plus a whole floor 960sqm Skybar & reception centre.
The modernist apartment’s prices start from $475,000 for a one-bedroom, $585,000 for a two-bedroom and $835,000 for three-bedroom apartments. Local first home buyers have been active due to the new Government Schemes in place this year, owner occupiers in particular downsizers account for a significant portion of the sales to date due to the affordability.
ALAND CEO George Tadrosse said that the project’s unparalleled offering is also a major drawcard for eager investors.
“Archibald is the only project of its kind in Gosford, the level of amenity is unmatched, and residents will get that hotel lifestyle with access to resort-style facilities and beaches at their doorstep,” he said.
“We’re seeing many investors taking advantage of the growing population and new economic ventures in education, retail and health innovation in the area. It’s no surprise that investors have been quick to recognise this unique offering and its potential.
“With the NSW Government’s recent announcement to invest more than $23 Million in the Central Coast region, committing to a faster rail at Wyong and new university campus at Gosford, we expect another influx of interest across all buyer types,” says Mr Tadrosse.
Sales Agent Georgia Scanlon said ALAND’s sales to date are indicative of the demand of the Central Coast market, observing that lifestyle continues to hold strong appeal.
“The Central Coast Market continues to perform despite broader market sentiment, offering buyers an affordable coastal lifestyle that is hard to match anywhere else in regional NSW locations. The Northconnex has allowed the coast to become a part of greater Sydney in the same way Western Sydney has.”
“We’re seeing a lot of local downsizers come from The Hills and Northern Beaches along with first home buyers who are outpriced in Sydney. Essentially everyone is chasing lifestyle only a stone’s throw from Sydney and the CBD,” added Ms Scanlon.
Designed by Place Studio, the project was inspired by the Australian coastline. The floorplans are functional, spacious and in keeping with the coastal nature of the location. Each apartment includes a spacious balcony complete with floor-to-ceiling windows capturing the views of Brisbane Waters and the city skyline.
Scheduled to be completed in Q3 2024, Archibald by ALAND will be a one-of-a-kind offering on the Central Coast with easy access to the region’s beautiful beaches and convenient amenities.
Find out more about Archibald by ALAND here.
