Urban renewal project Melrose Park North sets sales benchmarks

URBAN renewal project Melrose Park North has continued to set sales benchmarks for off-the-plan apartments in Sydney, with 103 selling on Saturday at the launch of the latest stage, Melrose Park Village.

The AJ+C designed Melrose Park Village includes six buildings and 411apartmentsoverlooking a 4000-square metre private park, along with a small-format supermarket.

Melrose Park Village also features health and wellness services, including gym, yoga room and infrared sauna, along with a work from home business hub.

More than 600 apartments were sold in the first three stages located at 659 Victoria Road, despite the previously sluggish property market.

Sekisui House Australia Project Director Simon Adams said the strong sales reflects the demand for well-designed and planned projects.

“Melrose Park Village is the landmark stage and particularly attractive to buyers given the retail, large park and wellness facilities,” he said.

The first stage, known as One Melrose is complete, with residents moving in last year, while the second stage, The Residences is due for completion in the third quarter this year and work has started on the third stage Pulse &Pavilion.

Late last year, Sekisui House Australia increased its investment in Melrose Park North taking sole ownership and development commitments for the first phase of the project, including Melrose Park Village.

Sekisui House and PAYCE are continuing to work as Joint Venture partners on the second phase of the urban renewal on the adjoining 25-hectare site which will include approximately 5000 apartments, parks, community facilities and a town centre.

Boston Marketing Director Rhys Morgan, who is selling the project on behalf of Sekisui House, said the Melrose Park Village sales launch had exceeded expectations.

“We knew there was a lot of interest in Melrose Park Village apartments, but the sales result is beyond our expectations.”

“Everything you need to live a balanced life is at your door-step and the convenience of retail services close by is a big plus.’’

Buyer feedback also included the following key attributes:

  • Opportunity to buy early into Sydney’s biggest urban renewal project.
  • A developer with a proven, long-term track record in delivering high-quality projects.
  • Award-winning design by architects AJ+C.
  • Affordably priced apartments.
  • A location benefiting from significant infrastructure investment.

Work on Melrose Park Village is expected to commence in late 2021, with completion scheduled for late 2023.

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