$100m worth of sales in 3 days

If the market’s cooling, you wouldn’t know it at Lindfield, where a new development above Coles has achieved $100m worth of sales in just three days.

“It’s unbelievable,” says CBRE managing Director David Milton of his off-the-plan sales in the Balfour Place project on a 7091sqm site surrounded by gardens at 1 Balfour St.

“All we’ve got left is one 68sqm one-bedroom apartment for $945,000. Buyers said: ‘This is what we want; they’re well designed with a good-sized balcony.’ And being above Coles was a big factor – they loved the convenience!”

The agents received more than 1500 inquiries on the $102m development ahead of last weekend’s VIP launch and sold 58 of 59 units in the Third.i and Phoenix Property Investors project. Third.i’s co-founder and director of sales and marketing, Luke Berry, said the sales result was indicative of Lindfield’s much-needed revitalisation.

“It’s a true testament to the quality of the project,” he said.

The one-bedders (59sqm – 80sqm) sold for between $850,00 and $1.1m; the two-bedders (87sqm-104sqm) for $1.3m to $1.75m; and the three bedders (123sqm – 220sqm) for $2.6m to $3.4m. The two penthouses (224sqm plus 130sqm terraces) went for $4.5m and $4.95m.

Most of the two and three bedroom apartments sold to local owner-occupiers, including young people who couldn’t afford a freestanding home.

“The one-bedders sold to a mix of investors and owner-occupiers and we saw a lot of first-home buyers,” Milton said.

The two four-bedroom penthouses sold to upper north shore downsizes. Demand was so strong that there were more than 30 would be buyers who missed out at the VIP launch who have paid deposits in the hope that some of the sales don’t proceed.

– North Shore Times