CABE has sold more than 60% of Stage One of its $500m East Side Quarter development in Penrith before the official launch. The 6.5ha urban village is adjacent to Penrith Leagues Club and the sales included a record for Penrith when a $950,000 three-bedroom penthouse was bought off the plan.
CABE’s $500 million lakeside development in Penrith, East Side Quarter (ESQ), has sold more than 60 per cent of stage 1 prior to their official launch. The 6.5-hectare urban village located at the foothills of the Blue Mountains and the doorstep of Penrith Panthers’ entertainment precinct offers benchmark design and postcard views designed from the ground up to meet the needs and desires of a new generation. “A record apartment price for Penrith of $950,000 was achieved with the sale of a penthouse style, 3 bedroom apartment,” Colliers International residential project director Blake Schulze said. “Buyers were motivated to snap up an apartment as they understand the strong growth potential of Penrith and the Western Sydney economy.” Penrith is currently reshaping its future as the heart of the New West. Multi-billion-dollar infrastructure projects such as Badgery Creek are forging stronger connections to wider Sydney and building a vibrant, activated city centre. Dynamic inner-city lifestyles, growing entertainment and enterprise hubs, a second Sydney airport, significant upgrades to university and hospitals, major road networks and more are creating a blueprint for the future that is placing Penrith firmly on the global map. “East Side Quarter appeals to all buyers from downsizers, to investors and first home buyers with oversized 1 bedroom apartments starting at $410,000,” Schulze said. “The strong buyer demand has been from the local market, with buyers quick to secure their apartments due to the urban community that ESQ offers with the connection to the Panthers Precinct,“ PRD Nationwide Penrith managing director Darren Latty said. “The sales success is a true testament to CABE’s development vision and the Turner Architects’ design, appealing to owner occupiers with a strong uptake from downsizers,” he added. As Penrith’s most visionary and bold new precinct, ESQ offers an all-encompassing lifestyle and residential quarter that will excite, involve and engage on multiple levels. Architecture firm Turner is creating transformational spaces of a type and scale never before seen. The masterplan for 850 one, two and three bedroom apartments maximises amenity for residents both inside and out. The vision is for a whole new urban experience that draws strength from a charismatic relationship between nature, its built form and multi-layered public and private spaces. ESQ’s Sales Display Gallery is located on Retreat Drive, Penrith. Open from 11am to 4pm, Wednesday to Sunday, or via Private Appointment 1300 181818 www.esqpenrith.com.au https://theurbandeveloper.com/articles/presales-success-for-cabes-east-side-quarter-in-penrith
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EAST SIDE QUARTER Retreat Drive, Penrith MARISSA GEORGOPOULOS WESTERN Sydney hub Penrith is due for its biggest transformation yet – a $500 million residential development that will push the suburb to new heights. The monumental new estate known as East Side Quarter will include 11 buildings ranging from four to 15 storeys and offer panoramic Blue Mountains views, a resort-style pool deck, play areas for kids and a retail laneway. The estate will also have a lakefront dining precinct, wellness retreat and regional play spaces. The first luxury apartments will hit the market next month. Telegraph the project was the culmination of long-time planning. “We’re very excited to finally put it out to the public,” Mr James said. “All up, it is 850 apartments, 3500sqm of retail, and it will be what we’re calling the first urban village of Western Sydney as it spans more than 6.5ha. Over half the site is landscape.” Neighbouring the site is the Penrith Panthers Leagues Club. Mr James said the proposal was welcomed by the Panthers board. Club members have been offered an early chance to buy into the 152 units being made available in the project’s first release in July. “We have gone out to them over the past week and in that time we have had over 50 per cent of the apartments pre-sold. This shows the local market has been crying out for this level of development. “There has been a healthy mix of buyers but downsizers have certainly shown strong interest.” Each apartment will have at least one car space. The one-bedders start from $400,000. Two-bedroom units are upwards of $550,000. The threebedders are priced from $700,000. Architects Turner will incorporate stone benchtops, porcelain floor tiles and mirrored splashbacks in kitchens and bathrooms. Construction of the first two buildings will start this year, with doors set to open to residents in 2020. Visit esqpenrith.com.au Caption Text: The $500 million project known as East Side Quarter will transform Penrith with 11 buildings, 850 units and about 3500sqm of retail space. https://www.news.com.au/finance/real-estate/penrith-to-be-transformed-with-500m-development/news-story/f7a405c9e45536011e0a2f4f9adabd60
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Design details have been unveiled for the Western Sydney Community and Conference Centre which will form part of the Panthers Group’s transformation of the Penrith Panthers precinct. A staged concept proposal prepared by Turner Architects has been lodged with Penrith City Council for a community facility, conference centre, exhibition centre, hotel, retail premises and serviced apartments. The first stage of the proposal provides a community centre, conference facility and new civic domain to deliver “a destination for connecting, engaging, learning and entertainment for the residents of Western Sydney and beyond.” This is supplemented with landscaping and public domain improvements along Ransley Street, Panthers Link and Mulgoa Road and a secured, weather-protected basement carpark. The estimated cost of works is estimated at $30 million. The community centre will be located on an existing car park site and help revitalise the Riverlink Precinct as a key entertainment and recreation destination. A flexible conference facility would be capable of seating up to 1000 people or hosting a number of smaller functions. To the west of the site lies the Panthers Club and I-Fly recreation facility, the ESQ1818 residential development to the north, existing fast food outlets to the south and Panthers training field and stadium across Mulgoa Road to the east. Stage 2 will include a hotel and retail premises at the gateway to the precinct, adjacent to Ransley Street. Stage 3 includes a serviced apartment building with flexible exhibition space to complement the conference centre facility. Former Penrith Rugby League player turned property developer Lou Zivanovic received development approval earlier this yearfor the first stage of his $500 million residential development known as ESQ1818. Zivanovic’s flagship company, CABE, submitted the proposal, which will deliver 850 apartments. New Penrith hospital The News South Wales state government has placed spending on infrastructure including health in western Sydney as part of a move designed to fend off criticisms of commitment to fund sporting stadiums. The government has pledged $1 billion to redevelop the existing Nepean Hospital complex in Penrith as part of an “unprecedented” $5 billion investment in Western Sydney hospitals. View the full article here.
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ESQ1818 Submits Development Application for Stages 2 and 3 A development application for stage two and three of ESQ 1818 has been lodged to Penrith Council for approval. A total of four residential buildings ranging from four to five storeys as well as one mixed use residential building with about 1225 sqm of retail space are the second and third stage of the development. The entire project, which includes fives stages of construction, will cover a 6.5 hectare footprint on the Panthers precinct and feature a lakeside promenade as well as landscaped space, shopping and restaurants a stone’s throw from the Nepean River. Penrith based property developer Astina Group has been awarded the mammoth task of building ESQ. “We have been impressed with what we have seen with Astina and the fact that they are local was icing on the cake,” CABE chief executive Andrew James said. Astina has recently built projects such as Home on High and East Bank and builder William Schrumpf welcomed the new project. “We are extremely excited to be teaming up with CABE to deliver ESQ,” Mr Schrumpf said.
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