Over half of the apartments in boutique development Belvedere for New Lambton have been sold off the plan with construction set to begin.
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PRDnationwide Newcastle and Lake Macquarie are marketing Belvedere, to be located at 21-39 Alma Road. They have sold 11 of the 17 apartments on offer, including the penthouse, which was secured last month.
The development will comprise one, two and three-bedroom apartments plus two commercial spaces and has cafes and boutique shops on its doorstep. Six existing shops fronting Alma Road will continue trading.
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"The builder has been appointed - Australex and the construction time line is in place with completion expected in fifteen months," PRD agent Kyle Hartigan said.
"All six apartments remaining have some endearing design or aspect feature that will make every purchaser feel as though they have something really unique and special within this boutique building."
Belvedere will feature a landscaped rooftop and ground floor landscaped courtyard with a bocce court.
Mr Hartigan reported most purchasers to date had been downsizing owner-occupiers and first home buyers with a connection to New Lambton.
"The purchasers have either grown up in the suburb and returned or have moved here to be closer to family," he said.
All six apartments remaining have some endearing design or aspect feature that will make every purchaser feel as though they have something really unique.
PRDnationwide Newcastle and Lake Macquarie managing director Mark Kentwell observed a growing demand for "boutique developments in some of our region's villages, where buyers want high levels of finish and amenity, with low maintenance".
"Buyers are liking the opportunity to purchase off the plan, due to the broader product selection they get access to, along with the longer lead time to plan the sale of their existing home," Mr Kentwell said.
"I also believe one of the reasons the confidence in Belvedere has been so strong is because of the fantastic track record of the developer and builder."
Stronach Property is behind the development with the assistance of project management company AVID Constructions. Australex will build Belvedere, which was designed by CKDS Architecture.
Commercial space is available for sale or lease through Colliers International.
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