Sydney buyers discover the Central Coast’s height of luxury

SYDNEY investors and first-home buyers are flocking to Gosford to secure luxury apartments in the stunning new Archibald by ALAND development.

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Buyer interest in the $375 million mixed-use development has been very strong with two-thirds of the apartments sold since designs for the project were unveiled to the public earlier this year.

Leading Sydney developer ALAND acquired the 5,656sqm site fronting Mann, Donnison and Baker streets in June 2022 and plans to build 323 residential apartments and penthouses, plus a 130-room hotel and multiple food and beverage offerings, including a SkyBar & Lounge on Level 28.

ALAND CEO George Tadrosse says this strong sales performance aligns with the company’s long-standing confidence in the future of Gosford, a regional hub that is benefitting from substantial investment in its educational, transport, medical and tourism infrastructure.

Mr Tadrosse believes that Sydney investors and owner-occupiers understand that these stylish new Gosford apartments represent excellent value for money, given their coastal location and the development’s up-market amenities, such as the podium-level swimming pool and swim-up bar.

“This development is without peer in Gosford, offering an unmatched level of amenity and potential for capital growth that would be impossible to find at this price in Sydney,” he said.

“Residents will enjoy a five-star hotel lifestyle, with resort-style facilities and will be just minutes from the waterfront, national parks and the Central Coast’s iconic beaches.”

Work on the Archibald is already underway. Locals have already watched the first of the two cranes go up on-site, with the next one due to go up next week. Made by Raimondi, the cranes were imported by ALAND from Italy, specifically for the Archibald project.

“These cranes use hydraulics rather than cables to raise and lower the jib and so they are very safe, as well as being a lot more energy efficient,” Mr Tadrosse said.

“They are also capable of reaching up to 140 metres, which is 30 metres above Archibald’s highest point, so they are exceptionally tall.”

Archibald by ALAND has been in demand since it was launched to the market. In less than eight months around 215 apartments and penthouses have been sold to Central Coast locals and buyers from Sydney who have made up the first wave of buyers.

Mr Tadrosse says with early launch prices starting at $475,000 for a one-bedroom apartment, it is no surprise that many first-home buyers and owner-occupiers got in early as they regard Archibald by ALAND as a rare opportunity to buy into a prestige development at an attainable price.

“Until August, our local sales team concentrated on the Central Coast owner-occupier market, including first-home buyers – and the response was immediate,” Mr Tadrosse said.

“First-home buyers love the value of our product and are also taking advantage of the various government housing schemes, such as transfer duty relief, now available.

“But once we started running sales events with our Sydney agents, we discovered a large demand from Sydney investors in this high-growth area. Buyers were impressed by the high quality of the product and the region’s strong rental yield, low vacancy rates and capital growth statistics.”

“Many of our Sydney buyers are investors who have purchased from ALAND before, capitalised on their investment and have confidence in ALAND as a trusted builder-developer.”

Alongside Archibald, Gosford is benefiting from several major projects such as a new University of Newcastle campus, a new TAFE NSW campus and the expansion of Gosford Hospital – all part of an extensive commitment from state and federal governments to the region.

“We are proud to be playing a part in the transformation of Gosford and contributing much needed employment to a growing local economy,” said Mr Tadrosse.

When completed, this development will provide much-needed housing with up-scale hotel accommodation plus a vibrant bar and dining precinct, making Archibald the most sought-after lifestyle destination on the Central Coast.

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