Anticipation is building for the next month’s launch of a luxury mixed-use development in North Sydney titled ‘Balfour Place’, a joint venture by Third.i and Phoenix Property Investors (PPI).
The $180M project will be created in partnership with Coles Group, with the development to be built on an existing Coles supermarket site in Lindfield.
The development marks the fourth joint venture between the influential companies, and will be marketed by CBRE Residential Projects following the launch.
Solidifies partnership with Coles Group
Balfour Place will join Third.i’s growing portfolio of luxury developments, comprising of several one, two, three and four-bedroom apartments featuring private courtyards and rooftop gardens.
The residences, which begin from $845,000, will sit atop a brand new large format Coles supermarket, Liquorland and heritage commercial space.
Fronting the Pacific Highway and offering views of the Blue Mountains, Balfour Place has already succeeded in catching the eye of local buyers.
Third.i Co-founder and Director of Sales and Marketing, Luke Berry said both Third.i and PPI were thrilled to work alongside Coles in the delivery of Balfour Place.
“When Third.i Group began working with Coles Group, we immediately highlighted there was an opportunity to improve the residential elements of development application, so in a partnership with award-winning architects Rothelowman, we re-imagined the apartment layouts and created a mix of larger apartments, perfect for the downsizer and young families we see as the likely purchasers of our apartments and we couldn’t be happier to finally launch this project to the market next month,” said Mr Berry.
Ahead of the project’s arrival to the market, Mr Berry also expressed pride for his team and all of Third.i’s stakeholders in helping Third.i and their joint venture partners in bringing the development to fruition.
Prime Sydney location
The 7,091 sqm site has received development approval, and will likely commence construction in the first quarter of 2022.
PPI acquired the site in 2020, bringing Third.i on board as development partners with plans to preserve a heritage listed building and an electrical substation.
Late last year, Third.i amended the initial development plans and reduced the number of apartments at Balfour Place from 70 to 62, citing an objective to reduce the impact on neighbours and the community.
CBRE Sales Director and lead agent in Balfour Place’s marketing campaign, Ben Stewart, listed proximity and convenience as some of the top selling points of the development.
“The latest offering by Third.i and PPI has it all in terms of proximity to a train station and quality schools, as well as being positioned in a highly coveted north shore suburb, where new apartment developments are scarce, particularly for downsizers.”
Ben Stewart, CBRE Sales Director
“Our market research has indicated that demand for high-end living and conveniently located new apartments in the area is solid, with almost all initial inquiries coming from local residents.”
Conveniently located amenities
In addition to excellent connectivity to the wider Sydney area, residents at Balfour Place will not have to venture far to find amenities such as a supermarket and cafe.
“With Balfour Place, you will have everything you need at your doorstep. To be just a lift ride away from fresh food and produce, a barista brewed coffee and your favourite bottle of wine is the epitome of apartment living and that’s exactly what we will be delivering with this project,” said Mr Berry.
As part of the development, Coles Group have agreed to a new 15-year lease of a brand space more than double that of the existing 4,500 sqm supermarket, and two-storey car parking for 237 cars.
The project will also include the construction of a new Balfour Lane, a Liquorland and a cafe.
“We haven’t seen anything like this on the market for a while and I anticipate the level of livability coupled with the convenience of essential goods and services at your doorstep will really resonate with our buyers and product on the market won’t last for long,” concluded Mr Stewart.
