Targeted specifically for buyers over 55, Watersedge in Sydney’s northern beaches proves that apartment living isn’t just for young first-home buyers. Alison Cheung reports
Watersedge is the latest residential project released in Bayview, with property developer CABE setting its sights on the over-55s market.
The development, at 2079 Pittwater Rd, will consist of four triplebedroom units and a penthouse.
With only five dwellings in total, managing director of CABE Lou Zivanovic said Watersedge will provide an alternative to offerings for the over-55s market, which are typically higher in density.
“Making the decision to downsize doesn’t mean that buyers have to compromise on size and design,” Mr Zivanovic said. “Watersedge is an opportunity to secure a beautifully appointed apartment home that still offers spacious living and entertaining areas.”
Western Sydney Business Access, Parramatta, General News 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.
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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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Western Weekender Penrith Penrith’s newest property development, CABE’s East Side Quarter (ESQ) broke ground ahead of schedule last month due to outstanding sales success. The $500 million development next to Penrith Panthers also announced the appointment of local builder Astina Group. With stage one of the project already 77 per cent sold, the development is outperforming all other projects in western Sydney and broader Sydney, according to agents, Colliers International and PRD Penrith. “ESQ’s sales success is a result of the strong Penrith community support for the project, with locals drawn to its lifestyle offering and vibrant urban village setting,” CABE CEO Andrew James said. “It has appealed to all buyers from downsizers, to investors and first home buyers who understand the uniqueness of the site and its offering with running tracks, lakeside dining, wine bars, entertainment, high quality apartments and landscaped areas that would cover 10 football fields.” A record apartment price for Penrith of $950,000 was achieved with the sale of a penthouse style, three bedroom apartment. Director of Residential Project Marketing of Colliers International, Blake Schultze said most purchasers have come from the local Penrith area or the Blue Mountains. “Buyers have been motivated to snap up an apartment as they understand the strong growth potential of Penrith and the western Sydney economy,” he said. The appointment of Astina Group is great news for the local economy with the full amount of Penrith’s trusted tradespeople employed to complete the development. “As we are family owned, operated and residing in Penrith, being part of such a major project for not only Penrith but western Sydney means a lot to us,” Co-founder of Astina Group, William Schrumpf said. “We’re proud to be a part of delivering a new lifestyle for our growing community and look forward to exceeding their expectations.” The stage two release is scheduled for February 2019. Visit www.esqpenrith.com.au. – Nicola Barton
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