Month: April 2022

Third.i’s Co-Founder and Director of Sales and Marketing, Luke Berry, said the sales result is indicative of Lindfield’s much needed revitalization, off the back of skyrocketing interest for larger apartment living.

North Sydney’s latest luxury apartment project by developer Third.i and Phoenix Property Investors (PPI), has knocked over sales of 58 of its 59 apartments at its weekend launch, securing close to $100 million in sales in just three days amid scarce supply and increasing demand for larger living.

Only one apartment remains up for grabs as eager buyers pounced on the $102 million Balfour Place, following a flood of enquiries from the local market and over 300 appointments booked in during the VIP launch weekend.

After receiving over 1500 plus enquiries last month, the remaining apartments are projected to be snapped up quickly.

The project, which is set to be built on the existing Coles supermarket site, will be grounded by an urban oasis encompassing over 7091 sqm of retail and hospitality space, in a bid to help ease the increasing demand for larger apartment living, adding to Third.i’s growing portfolio of quality developments tailored towards meeting the needs of the market.

Third.i’s Co-Founder and Director of Sales and Marketing, Luke Berry, said the sales result is indicative of Lindfield’s much needed revitalization, off the back of skyrocketing interest for larger apartment living.

“We are just absolutely ecstatic with the sales result our team procured over the weekend. It’s a true testament to the quality of the project, the calibre of our consultants and we couldn’t be happier,” said Berry.

“Each floor plan is tailored to cater to that need of larger living spaces we’re seeing in the industry now and is clearly in scarce supply. When we began working on the design brief with PPI and Coles Group, we immediately identified there was an opportunity to improve the residential elements of the development application to re-imagine the apartment layouts to create a mix of much larger apartments not typically seen in developments of this size.”

“We truly wanted to tap into that need for larger living spaces for downsizers and young families and we couldn’t be happier to have finally shared what we’ve created with a new breadth of buyers this weekend. 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,” he added.

Marking the fourth joint venture project between Third.i and PPI, the latest luxury offering will comprise a collection of one, two, three and four-bedroom residential apartments with private courtyards and a luxe rooftop garden to be built on top of a brand-new large format Coles supermarket; which will be double the size of its existing predecessor, a Liqourland and heritage commercial space fronting the Pacific Highway and overlooking the Blue Mountains.

Construction of the DA approved site is well underway with the second stage of construction due to start in July/August this year, off the back of Third.i’s proposal to reduce the number of apartments from 70 to 59, in an effort to deliver less impact on neighbours and the wider community.

https://www.urban.com.au/news/nsw/thirdis-balfour-place-in-lindfield-nets-record-sales-weekend

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

A new, yet-to-be-completed apartment complex located in Sydney’s north-western suburb of Lindfield has almost completely sold out in just three days. 

Known as Balfour Place, the avant-garde residential structure hosted a sales campaign over the weekend, and of the 59 available apartments for sale, all but one was sold within the first 72-hours. 

The staggering achievement elucidates the unendingly strong demand in Sydney’s inner-northern property market, with the campaign generating close to $100 million in sales. 

Balfour Place’s project has been created by Third.i, an Australian property development firm, in conjunction with Phoenix Property Investors (PPI) and Coles Limited. 

The $180 million residential complex will sit atop a pre-existing Coles supermarket, and the immediate surrounding area will be turned into an “urban oasis encompassing over 7091sqm of retail and hospitality space for the ultimate luxury living opportunity.” 

The apartments comprised one, two, three and four-bedroom offerings and have been designed by notable Surry Hills-based architectural firm, Rothelowman. 

https://www.nine.com.au/property/news/northern-sydney-apartment-complex-nearly-sells-out-in-72-hours/e687a35c-a5dc-48b1-8e99-1f764d9b54db

If the market’s cooling, you wouldn’t know it on Sydney’s upper north shore where a new development above Coles has achieved $100m in sales in just three days.

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

“All we’ve got left is one 68 sqm one bedroom apartment for $945,000.

“Buyers walked in and said ‘This is what we want, these are well-designed with a good sized balcony’ and being above Coles was a big factor ….. they loved that convenience!”

The agents received more than 1500 inquiries in the $102m development ahead of last weekend’s VIP launch and sold 58 of the 59 units in the Third.i and Phoenix Property Investors (PPI) project.

The one-bedders (ranging in size between 59sqm and 80sqm including balconies) sold for between $850,000 and $1.1m; two bedders (87sqm to 104sqm) for $1.3m to $1.75m and three-bedders (123sqm to 22sqm) for $2.6m to $3.4m.

Two four-bedroom penthouses (244sqm plus 130sqm terraces) went for $4.5m and $4.95m.

There were a mix of buyers.

Most of the two and three-bedroom apartments sold to local owner occupiers, including young people who can’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 downsizers.

Demand was so strong that there were more than 30 would-be buyers who missed out at the VIP launch that have paid deposits in the hope that some of the sales of the two and three-bedroom apartments don’t proceed.

Third.i’s Co-Founder and Director of Sales and Marketing, Luke Berry, said the sales result is indicative of Lindfield’s much needed revitalization, off the back of skyrocketing interest for larger apartment living.

“We are just absolutely ecstatic with the sales result our team procured over the weekend,” he said.

“It’s a true testament to the quality of the project, the calibre of our consultants and we couldn’t be happier.”

Construction of the DA-approved site is well underway with the second stage of construction due to start in July or August this year.

https://www.news.com.au/finance/real-estate/balfour-place-lindfield-agents-sell-100m-worth-of-offtheplan-units-above-coles-in-three-days/news-story/7cae88aff4c99b07a320a20406b78fba

If the market’s cooling, you wouldn’t know it on Sydney’s upper north shore where a new development above Coles has achieved $100m in sales in just three days.

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

“All we’ve got left is one 68 sqm one bedroom apartment for $945,000.

“Buyers walked in and said ‘This is what we want, these are well-designed with a good sized balcony’ and being above Coles was a big factor ….. they loved that convenience!”

The agents received more than 1500 inquiries in the $102m development ahead of last weekend’s VIP launch and sold 58 of the 59 units in the Third.i and Phoenix Property Investors (PPI) project.

The one-bedders (ranging in size between 59sqm and 80sqm including balconies) sold for between $850,000 and $1.1m; two bedders (87sqm to 104sqm) for $1.3m to $1.75m and three-bedders (123sqm to 22sqm) for $2.6m to $3.4m.

Two four-bedroom penthouses (244sqm plus 130sqm terraces) went for $4.5m and $4.95m.

There were a mix of buyers.

Most of the two and three-bedroom apartments sold to local owner occupiers, including young people who can’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 downsizers.

https://www.realestate.com.au/news/balfour-place-lindfield-agents-sell-100m-worth-of-offtheplan-units-above-coles-in-three-days/?rsf=syn:news:nca:nl:spa

“The name Third.i was very much formed with the two most critical elements to development; investment and infrastructure,” Berry said.

The Sydney-based developer, Third.i, are continually trying to break new ground in what type of product they are bringing to the off the pl​an apartment market.

It’s been a pillar of Third.i since it was founded by Luke Berry, Robert Huxley and Ron Dadd in 2005, so much so it forms a key part of the company name.

I recently got to catch up with Luke Berry, who also handles Third.i’s sales and marketing, to discuss the company’s current direction and how they like to develop.

“The name Third.i was very much formed with the two most critical elements to development; investment and infrastructure,” Berry said.

“We follow planning, jobs growth, and the inevitable need for housing in those areas.

“Infrastructure is key; where the government are spending, where there’s private spending on infrastructure, new transport hubs etc. Always invest where infrastructure is and is planned to be.”

The third I was more in the spiritual sense, Berry added.

“We are always trying to think ahead, constantly challenging both ourselves and pushing the boundary as to what’s conceivable in apartment development.

“We try and create apartments and a style of housing that people don’t even know they want yet. We think of the projects people are going to need, rather than what they necessarily need right now.”

Their latest innovative venture however isn’t about what they’re offering a buyer in terms of the product they are creating. It goes well beyond that.

The team has recently launched CoPosit, which allows potential buyers secure a property with just $10,000 in savings, with the remainder of the deposit paid over weekly instalments until the apartment is ready.

That’s available for buyers at the Dairy Farmers project in Newcastle’s West End, where already 100 of the 184 apartments have been sold. Around 10 per cent of those buyers have used CoPosit.

“Developers usually need five or 10 per cent deposit minimum as a bank needs a qualifying presale to provide funding for the project,” Berry said.

“But we’ve managed to crack open the door for first home buyers, who, if they can’t stump up a deposit, can still secure an apartment and take advantage of the price growth of that apartment during the construction phase.

“Traditionally, those buyers would maybe have to wait a year, or wait until completion, before they can buy the apartment. With the way the property market has gone in recent years, that’s a lot of growth they’ve missed out on. They’re potentially paying $50,000 more for that same apartment they couldn’t get a few years earlier when it wasn’t complete.”

Berry says he believes the scheme will completely revolutionize off the plan sales.

The Dairy Farmers project will comprise a separate five story-building that will house the very first residents’ shared work hub coupled with 1600 sqm of commercial and retail space.

The development will also include a range of exclusive amenities featuring communal green spaces, a state-of-the-art gymnasium, cabana pool areas with a lap pool, a wine bar and cellar, as well as multiple function rooms.

The Newcastle West site was once home to Dairy Farmers – one of Australia’s largest dairy producers. In a nod to the history of the site, Third.i will re-imagine the heritage-listed, iconic glass milk bottle and clock towers as part of a pedestrianized, broader public art installation.

“We feel like the West End is our second home and we are excited to be part of its revitalisation,” Berry said.

“We want Dairy Farmers Towers to be a West End icon, a landmark that will be reborn to create a new chapter in the West End’s growth as a great place in which to live, work and play.

“Residents will have some of the best views in town, as well as the harbour, great dining and entertainment options, and the transport interchange at their doorstep. To create a true sense of community for residents, we’ve really focused on incorporating communal green spaces andcommercial and retail spaces to add diversity of housing options for locals.”

A large number of locals have made up part of the buyers so far, a mix of downsizers wanting to live in an urban apartments and first home buyers who see the entry level apartments as good value for money.

There’s also been a number of investors, both from Newcastle and Sydney.

Third.I, has always been forward thinking – and is one of the largest providers of SDA (Specialist Disability Accommodation) apartments along the East Coast of Australia. They have a partnership with Aruma (formerly House with no steps) and many other SIL’s (Specials Independent Living Advisors) to provide suitable accommodation in their medium and large scale developments.

“ESG (environmental, social and governance) has always been important to us, and the commitment we have in creating SDA Housing is a cornerstone of our business policies in providing social housing” Berry added.

It was at the forefront of their efforts in London. Both of their London projects, the completed Battersea apartment building currently under construction, and the upcoming Vauxhall development, has around a third of its development set aside for people who couldn’t traditionally afford them.

“We have around 30, 35 per cent of our developments in the UK reserved for people like nurses, school teachers, train drivers, single parents who struggle to afford to get in to the property market,” Berry says.

The expansion in to the UK has seen Third.i’s global footprint expand, with meaningful conversations with huge REITS and investment firms.

“What London has done has cracked open the door for Third.i to forge international business relationships with funders, agents, based in Singapore, Dubai, Hong Kong, Malaysia, all which wouldn’t have happened if it wasn’t for the investment in to the UK market.”

“We have a big vision, big dreams, and now we’re in a position to chase them,” Berry said.

https://www.urban.com.au/news/nsw/how-the-sydney-apartment-developer-thirdi-always-puts-the-buyer-first-five-minutes-with-luke-berry