The near $45,000,000 project for the construction of two residential towers comprising of 62 apartments will be a much welcomed availability of new housing stock for the thousands of first-home owners, downsizers, investors and foreign purchasers who are desperately looking for places to live and invest.
“Of all the real estate classes to be in, we believe affordable residential property – especially apartments – is the safest sector to be in. Approvals are at an all-time low, yet demand is increasing at extraordinary rates. People are desperate to find places to live as there simply is not enough new housing being built – especially on the lower North Shore and in highly sought after suburbs such as Roseville,” said director of development and funds management, Mr Stephen Abolakian.
The project, located on the corner of Spearman and Boundary Streets, in Roseville is just a few minutes’ walk away from Roseville train station and a short stroll from the hugely popular Chatswood shopping town.
“It’s the first approval of a residential apartment building on this side of the highway in Roseville for decades – so it’s been a long time coming. Conscious of the need for well built, quality affordable apartments we have targeted an average apartment price of under $725,000. This strategy has been vindicated by the overwhelming rush of enquiries for apartments off the plan.”
Hyecorp has spent the last 18 months securing tightly-held development sites around the blue-ribbon lower North Shore of Sydney and the approval is the most recent in a development pipeline of approximately $400 million of projects over coming years for Hyecorp.
“Our funds management division is now preparing to invite current and a limited number of new investors to participate in the fund that will carry out the development of the project.”
“Investments will be accepted on a ‘first-come first-served’ basis”
Investors interested in participating in the Roseville project can register their interest here to avoid missing out.
