Housing DA submitted on iconic Dairy Farmers Corner
08th November, 2021
Residential apartment developer Third.i has submitted a DA to City of Newcastle to transform the iconic Dairy Farmers Corner site while paying tribute to its history.
The proposed Dairy Farmers Towers project will boast 184 apartments spaced in two towers – one 30 storeys (99m) and the other 27 storeys (90m).
A separate five-storey building will house 1,500 sq m of commercial and retail space.
The 30-storey tower will be Newcastle’s equal tallest residential building.
Director Luke Berry said the apartments would range from one to four bedrooms to increase the diversity of housing options for local people.
“The project will offer residents a spectacular view across the city and beaches,” he explained.
“To create a true sense of community for locals, we’ve focussed on incorporating communal and green spaces and facilities such as a gym, a cabana pool area with lap pool, wine bar and cellar, and function rooms.
“In what we believe is a first for the city, we want to use some of the commercial space as a residents’ shared work hub, so they can work from home without being in their apartment.”
The site, on the corner of Tudor and Hunter streets in Newcastle West, 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 pedestrianised, broader public art installation.
“Locals affectionately know the site as Dairy Farmers Corner,” Mr Berry said.
“And, that history will live on.”
Dairy Farmers Towers is the fourth West End apartment project for the Sydney-based developer.
It has already completed the West, Eaton on Union, and Stella on Hannell apartments in Wickham, creating 381 inner city homes for people.
Third.i’s retirement living division, ThirdAge, is also partnering with Merewether Golf Club on the recently-approved luxury resort retirement living project, The Merewether.
Mr Berry said Newcastle was an exciting market to work in with great potential.
“We feel like the West End is our second home and we are excited to be part of its revitalisation,” he stated.
“A landmark 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.
“We want Dairy Farmers Towers to be a West End icon.”
The project has been designed by leading local architectural firm CKDS.
CONSTRUCTION TO START ON MEREWETHER GOLF CLUB RETIREMENT LIVING PROJECT
The joint venture between ThirdAge and the club will be known as The Merewether. It will be home to 148 luxury one, two, and three bedroom apartments in four, six-storey complexes, and includes 16 penthouses with rooftop spa terraces overlooking the golf course.
ThirdAge director, Luke Berry welcomed the decision which will benefit the club and community, and explained that the project will bring a new style of much needed retirement living to inner Newcastle. The resort style community will feature a lap pool, cinema, gym, workshop, communal kitchen, and craft rooms. The golf club and community members will benefit from a new clubhouse, restaurant facilities, sports bar, and a wellness centre for its members and apartment residents.
“The project will create more than 1,000 construction jobs and close to 100 ongoing jobs, which is great news for the local economy as we emerge from the COVID-19 pandemic. The Merewether is all about enjoying the best of Newcastle’s great lifestyle and community, with a concierge, resident events such as gala dinners, and classes in cooking, yoga and pilates, and, of course, the beautiful championship Merewether Golf Club is on residents’ doorsteps,” Berry said.
ThirdAge will soon call for construction tenders and hopes to have residents in their new homes by mid-2024. Merewether Golf Club is providing a 99-year lease of the development land, with President, Phil Merrigan explaining that the project will help secure the club’s long-term financial future, and allows Merewether Golf Club to remain accessible for members, community golfers, and visitors to the region to enjoy.
“This project delivers funding to support significant investment in the golf course and the Club’s infrastructure and facilities. We have been able to realise our vision of a world class golfing facility and retirement living precinct without having to reduce the size of the course,” Merrigan said.
The panel approved concept plans and issued a site compatibility certificate for the project in May, 2020. This allowed ThirdAge to submit a development application (DA) to the City of Newcastle, where council reviewed the DA and recommended the project be approved by the panel. Club members endorsed the project back in 2018.
On October 20 this year, ThirdAge hosted a ‘Future of Retirement in the Hunter’ webinar. Targeted to over 55s, the webinar was a first of its kind and was attended by 600 participants. The session covered topical themes such as the costs involved in moving into an over-55s development, DMF, pension, investment, the comparison of upgrading an existing home, non-invasive technology and how it’s evolved, everything you need to know regarding the process of buying and selling, how to harness brand trust in community, and the connection to community.
“The perception of the over-55s category is no longer a nursing home environment. People expect more, they want more and they’re searching for better lifestyle options, resort-style living, non-invasive technology, and a sense of community,” explains Berry.
Whilst local downsizers, particularly members of Merewether Golf Club are leading the charge on enquiries, ThirdAge is also receiving a large number of enquiries from Sydneysiders looking to retire in a picturesque setting away from the city. With so much choice on offer for over-55s, ThirdAge recognises that property located in premium locations – particularly those that are still accessible to Sydney should a visit be required – yet seem truly a world away in terms of proximity to nature and to the coast, will drive demand.
ThirdAge, a division of Sydney-based developer Third.i, will manage the apartments. Third.i has successfully delivered large-scale residential projects in Sydney and Newcastle. The latter includes projects in the West, Eaton on Union, and Stella on Hannell apartments in Wickham. The group currently has a development pipeline worth more than $2.5 billion.
A MIXED use Coles supermarket project in Sydney has entered the market and is expected to bring in more than $50 million, or one of the largest supermarket transactions recorded.
The mixed-use Coles Linfield redevelopment by Thirdi Group and Pheonix Property Investors, located on the corner of the Pacific Highway and 1 Balfour Street, will see the supermarket demolished updated and 60 residential units built.
Carl Molony and Justin Dowers, directors at Stonebridge Property Group have been appointed to manage the sale of the property, on behalf of the developers.
“As far as supermarket investments go, this is one of the most outstanding assets in Sydney, and indeed, Australia,” said Molony.
The DA approved site was sold by Coles Group to the developers in 2020, after over 50 years of trading on the site. With by Thirdi Group and Pheonix Property Investors looking to cash in on the current demand for convenience assets, with supermarket yields compressing over 100 basis points in the past 12 months.
Supermarket yields have been underpinned by strong retail transaction volumes, with data showing a 230% year-on-year increase and $854.2 million in shopping centre deals recorded over the three months the end of July.
Selling subject to completion, the property will include a new 15-year lease with Coles in a new store that will be roughly twice the size of the current 4,500sqm supermarket, with parking for 237 cars over two and high exposure to the Pacific Highway.
“The demand for quality convenience assets is at unprecedented levels and rarely do assets of this scale and quality become available,” said Dowers.
The development will also see a new Balfour Lane constructed, for added access, with a heritage building and electrical substation preserved. While the retail offering will also include a Liquorland and a new café.
“Coles Lindfield is a fortress investment – it occupies a dominant trading position, has strong income growth and depreciation potential,” added Dowers.
The expressions of interest campaign for Coles Lindfield is scheduled to close on November 9, 2021.
Merewether Golf Club Gets Green Light for $120m Apartment Complex
Planning authorities have approved a 148-unit residential development at Merewether golf course.
Developer ThirdAge says it plans to start work in mid-2022 after the Hunter and Central Coast Regional Planning Panel gave the green light to the seniors living project late last week.
The redevelopment includes demolishing and rebuilding the Merewether clubhouse and erecting a six-storey residential complex across four buildings.
The project, to be known as The Merewether, will include changes to the course to accommodate the new buildings.
Merewether Golf Club members voted to approve the development three years ago.
The club will enter into a 99-year lease with ThirdAge, which is a collaboration between Sydney-based Thirdi Group and former Lendlease and Stockland retirement living executive Michael Eggington.
The “luxury” one-, two-, and three-bedroom apartments will include 16 penthouses with roof-top spa terraces.
The complex will include a lap pool, cinema, gym, workshop, communal kitchen, craft rooms and a “wellness centre”.
Thirdi hopes to complete construction by mid-2024.
Golf club president Phil Merrigan said the project would help secure the club’s long-term financial future and fund “significant investment” in the course.
The course would “remain for members, community golfers and visitors to the region to enjoy”, he said.
“We have been able to realise our vision of a world-class golfing facility and retirement living precinct without having to reduce the size of the course,” he said.
Merewether is one of many Hunter golf clubs to contemplate joint ventures with residential property developers to help their bottom line.
The club has started preparing temporary changes to the course layout to allow demolition and building work to start.
It will operate from a temporary clubhouse until the new building is finished.
Mr Merrigan said Merewether would remain as an 18-hole course during the construction.
Thirdi is the company behind the West, Eaton on Union and Stella on Hannell apartments in Wickham.
The planning panel said the redevelopment was of appropriate scale and character for the site and would add to housing diversity and choice in the area.
It said community concerns about parking, traffic and noise had been adequately addressed in assessment reports on the project’s development application.
Merewether Golf Club’s $120 million redevelopment sparks massive interest from retirees with more expressions of interest than proposed units – and it hasn’t been approved yet
07th November, 2021
A proposal for a $120 million retirement resort at the Merewether Golf Club, in Newcastle, NSW, is drawing heavy interest despite not being approved for development yet.
The $120 million retirement resort, from developer Thirdi, would be attached to the golf club which would enter into a 99-year partnership, with the club retaining ownership of the land.
Upon completion the resort would house 100 senior living units, with more than 200 people already registering their interest.
The resort was designed Marchese Partners and the proposal is being supported by former LendLease CEO and current ThirdAge Villages partner Michael Egginton.
ThirdAge Villages is a collaboration with Thirdi that aims to introduce developments, products and services yet to be seen in Australia.
The DA is still with the City of Newcastle Council and if approved is expected to be completed by late 2023 or early 2024.
Director and Co-Founder of Thirdi Group Luke Berry told The Daily Telegraph they expect the DA to be approved within six months.
Change is on the horizon for Newcastle’s skyline with the release of plans for more 100-metre tall skyscrapers in Wickham.
A fortnight after developer Doma Group unveiled its plans for The Store Residences, twin 30-storey complexes comprising 356 units, Thirdi Group has submitted its development application for Dairy Farmers Towers.
The two projects would be the tallest buildings in Newcastle.
Set on the corner of Tudor and Hunter Streets, the proposed Dairy Farmers development consists of one 99-metre, 30-storey building and a 90-metre, 27-storey building.
The two towers will house 184 apartments, ranging from one to four bedrooms, while an adjoining five-storey building will cater for retail and commercial. ADVERTISING
The heritage-listed glass milk bottle and clock towers that form the sole remnants of the former Dairy Farmers building will be “re-imagined” as part of the development.
Thirdi director Luke Berry said the complex would offer spectacular city and beach views.
“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,” Mr Berry said.
“To create a true sense of community for residents we’ve focused on incorporating communal and green spaces and facilities such as a gym, a cabana pool area with lap pool, wine bar and cellar, and function rooms.
“In what we believe is a first for the city, we want to use some of the commercial space as a residents’ shared work hub, so they can work from home without being in their apartment.”
Dairy Farmers Towers would be Thirdi’s fourth apartment complex in Newcastle’s West End, with West and Eaton on Union being joined by Stella on Hannell this year.
“We feel like the West End is our second home,” Mr Berry said.
“A landmark 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.
“We want Dairy Farmers Towers to be a West End icon.”
The Sydney-based group purchased the site at 924 Hunter Street, which has also served as a car showroom, from developer Jeff McCloy in late 2020.
Third.i Group and PPI join Coles Group to deliver Balfour Place – a sprawling mixed-use precinct in Linfield, Sydney
01st October, 2021
Leading Sydney property development firm Third.i Group and joint venture partner Pheonix Property Investors (PPI) have joined forces with Coles Group to create Balfour Place. This soon-to-be-released luxury, mixed-use development will span more than 7,000sqm and will be built on the existing Coles supermarket site in Lindfield, Sydney.
Balfour Place marks the fourth joint venture between Third.i Group and PPI. The current DA approval of 7,091sqm of land allows for the creation of luxury residential apartments with private courtyards and rooftop gardens to be built atop the brand-new large-format Coles supermarket, Liquorland, cafe, and a heritage commercial space fronting the Pacific Highway.
Luke Berry, Director and Co-Founder of Third.i Group says, “When Third.i Group started working with Coles, we quickly identified there was an opportunity to improve the residential elements of the DA. With the support of Coles and award-winning architects Rothelowman, we re-imagined the apartment layouts and created a mix of larger apartments – perfect for the downsizers and young families we see as the likely purchasers of our apartments.” Third.i Group’s proposal is to reduce the number of apartments from 70 to 62 to offer more space to residents and deliver less impact on neighbours and the community.
“It’s fair to say that regardless of if you’re a downsizer or first home buyer, you will have everything you need at your doorstep – almost like having a private providore, barista, and wine sommelier to call on.”
“To be just a lift ride away from fresh food and produce, a barista brewed coffee and your favourite bottle of vino in our opinion is ‘perfection’ in apartment living and that’s exactly what we will be delivering at Balfour Place.”
Luke Berry, Third.i Group
CBRE has been appointed as the lead agent to market the development and Sales Director Ben Stewart said that exceptional convenience will underpin Balfour Place residences, with location amongst its strongest selling points.
“The latest offering by Third.i Group 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,” he explains.
Ben comments, “Our market research has indicated that demand for high-end, conveniently located new apartments in the area is strong, with almost all initial enquiries coming from local residents. Further to this, studies show that ‘shop top’ developments like Balfour Place achieve an average 16% premium on prices compared to suburb averages so we see this project offering a similar dynamic to purchasers that secure an apartment early in the launch.
Third.i Group is currently finalising the modifications to the current DA and plan to submit to the council in early October. The team is aiming to start the second stage of construction in the first quarter of 2022. Stage 1 of construction has already commenced with Coles Group managing the realignment of Balfour Lane at the rear of the proposed site before handing over the delivery of the mixed-use development to Third.i Group.
Trent Winduss, Director and Head of Australian Investments at PPI says, “PPI and Third.i Group have enjoyed a close working relationship for a number of years and we are excited to add Balfour Place to our growing portfolio of Sydney joint venture projects including our luxury residential development Kurraba Residences and commercial precinct Blue & William in North Sydney.
Plans for a $180 million “shop top” development on Sydney’s North Shore are set to tap into increasing demand in the area from local down-sizers and young families for conveniently-positioned larger apartments.
The Lindfield project will deliver a mixed-use precinct spanning a 7000sq m site of an existing Coles supermarket.
To be called Balfour Place, it is the fourth joint venture between developer Thirdi and private equity group Phoenix Property Investors and boosts the value of their current workbook to more than $700 million.
They have acquired the site and joined forces with Coles Group to develop the mixed-use precinct.
Thirdi director Luke Berry said the joint venture was working with community stakeholders and Ku-ring-gai Council to finalise a shared vision for the site before a planned sales launch of the project later this year.
“When Thirdi started working with Coles, we quickly identified there was an opportunity to improve the residential elements of the DA,” he said.
“So, with the support of Coles and architects Rothelowman, we re-imagined the apartment layouts and created a mix of larger apartments, perfect for the down-sizer and young families we see as the likely purchasers of our apartments.”
Berry said it planned to reduce the number of apartments from 70 to 62 to offer more space to residents and deliver less impact on neighbours and the community.
He said the modification of the existing DA was being finalised with a view to lodging with council in early October and start the second stage of construction in the first quarter of 2022.▲ Research indicates “shop top” developments like Balfour Place achieved an average 16 per cent premium on prices compared to suburb averages.
Balfour Place will comprise one-, two-, three- and four-bedroom apartments with a private courtyard and roof top gardens built above a retail and commercial precinct with a large format Coles supermarket, specialty retailers and a heritage office space fronting the Pacific Highway.
Apartment prices are expected to start from $850,000.
The first stage of construction has already begun with Coles managing the realignment of Balfour Lane at the rear of the site before handing over the delivery of the mixed-use development to Thirdi.
Coles has signed an agreement for lease as the anchor tenant of the new mixed-use precinct.
CBRE sales director Ben Stewart who has been appointed to market the Lindfield development, said convenience was king for buyers and the location of Balfour Place would be a key drawcard.
He said new high-end apartment developments were scarce in the coveted North Shore suburb.
“Our market research has indicated that demand for high-end, conveniently located new apartments in the area is strong, with almost all initial inquiries coming from local residents,” Stewart said.
He also said the data showed that “shop top” developments like Balfour Place achieved an average 16 per cent premium on prices compared to suburb averages.
Paragon of Pyrmont: the opulent terrace estate ticking all the boxes for inner-city buyers
08th September, 2021
Take a walk down the back streets of any inner Sydney suburb, and you’re likely to come across rows of 19th-century terrace homes embellished with ornate iron lace.
In their original state, these houses tended to be dark, poky places that lacked the natural light, cross breezes, and easy flowing layouts demanded of 21st-century architecture. Outdoor spaces, if there were any, were often no more than a skinny balcony and tiny courtyard.
In Pyrmont, the once-gritty industrial hub turned fashionable harbourside neighbourhood, a new collection of homes is putting a luxurious contemporary spin on the historic terrace form.
The terraces are especially popular with downsizers. Photo: Supplied
Paragon of Pyrmont by developer Third.i is a collection of 33 apartments and terrace homes, of which fewer than 10 terraces are still available off the plan. The newly completed terraces offer modern multistorey living with lift access from basement garages to all four levels, as well as private landscaped rooftop entertaining areas with sleek outdoor kitchens.
SJB’s architecture draws on the rich heritage of Pyrmont, which is still dotted with reminders of the wharves, sandstone quarries, factories and wool stores that once thrummed with life on the south-west fringe of the CBD.
Architect Adam Haddow, a director at SJB, says the homes fit with the rhythm of the streetscape without trying to be “historical”.
“You get the rhythm of a terrace house, with that small-scale repetitive nature, but this builds on it in a contemporary way,” he says. “One of the negatives about old terraces is that they are pretty dark, with small windows. Here, you have the inverse, with a really great opportunity for light and ventilation and operability of windows.”
Though the homes are not designed specifically for downsizers, they embrace many qualities prized by older buyers moving out of large family homes. The palette of materials, for example, is unashamedly high-end without pushing the envelope in terms of drama or edginess.
Fewer than 10 terrace homes are still available due to high demand. Photo: Supplied
From the outside, bronze mesh screens and copper surfaces shimmer against the lush greenery of the common areas and a new public walkway that runs between the buildings. The interior architecture is designed with double-height voids, setback slabs, and skylights to ensure daylight penetrates the living spaces.
“There’s beautiful marble in the bathrooms, stone floors in the entries and timber floors in the living rooms,” Haddow says. “It’s a very quiet palette that gives people an opportunity to move in with their furniture, without it clashing. We made the interiors really calm so that when you step inside, there’s a change from the energy of the street.”
Private lift access to each level makes the terraces a viable long-term option for downsizers with mobility issues now or in the future. Elegant spiral staircases add a sculptural flourish.
Residents have some flexibility in how the layout can be used. Owners may choose to turn the entry level into a home office, for example, or guest accommodation.
“If a downsizer is still doing some work, they can have a study on one level and live on the other levels. It’s connected to the house, but it still feels like its own space,” Haddow says. “Equally, if older kids or family friends come to stay, they can be on a different level, so it doesn’t feel like you’re living with them but adjacent to them.”
For empty-nesters anxious about farewelling a sense of space, Paragon of Pyrmont offers much to soothe the nerves. En suites feature decadent free-standing baths. Each bedroom has built-in wardrobes. There are wine cellars in the oversized garages and wine fridges upstairs.
The internal configuration of the terraces are flexible. Photo: Supplied
Third.i has a reputation for harnessing new technology in its projects (Iconic Apartments Waterloo, The Gentry Alexandria, Kurraba Residences at Kurraba Point). Paragon of Pyrmont is no exception, incorporating Tesla Powerwall batteries and home automation, allowing owners to control lights, blinds, security, access and airconditioning remotely.
For Haddow, the loveliest aspects of the new residences are the private roof terraces, complete with hydraulic watering systems for lock-up-and-leave convenience.
“Being able to be up there amongst this garden is pretty unique in the city,” he says. “I’ve got a rooftop garden, and it’s really fantastic to feel connected to the landscape.”
When Third.i enlisted the design smarts of SJB architects and Richards Stanisich interior designers five years ago; they had no way of knowing a once-in-a-century pandemic was just around the corner.
Luke Berry, Third.i’s director of sales and marketing, says feedback from buyers is that terrace homes offer the kind of separation between spaces that’s ideal for the new normal.
“We had no idea about COVID or the impacts of working from home or lockdown living,” Berry says, “but the feedback we’re getting is that families can spread themselves out across three or four floors, including that private rooftop where you can go and get great sun and good elevation. For inner-city living, it ticks every box.”
The exterior of the development gives a nod to the suburb’s traditional terrace rows. Photo: Supplied
Beyond the Paragon of Pyrmont precinct boundary, the gentrified neighbourhood is spoilt for choice with dining and entertainment options, from hole-in-the-wall cafes to posh pubs and fine dining. The casino’s dizzying array of entertainment and food options is two blocks away.
It takes less than 20 minutes to walk across Pyrmont Bridge to the Queen Victoria Building and Pitt Street Mall. Chinatown, Darling Harbour and Barangaroo’s buzzy new bars and restaurants are also within easy reach.
On the opposite side of Pyrmont, the Sydney Fish Market has been earmarked for a glamorous revamp that will introduce new open spaces and pave the way for a waterfront path from Blackwattle Bay all the way to Woolloomooloo.
Berry says the terraces and apartments have appealed to downsizers from around Sydney, as well as younger professionals and people who love inner-city living. The future Pyrmont metro station is another big drawcard.
Newcastle median sale price up 7.4 per cent in three months with Sydney buyers behind rise
Newcastle house prices are growing at a rate of $2000 each week as NSW’s second largest city experiences one of its strongest property booms yet.
Unprecedented price growth is being driven by a shortage of stock, low interest rates, housing demand in coastal communities and Sydney buyers.
Real estate agents and developers are reporting “incredible” demand for property from Sydney buyers who have been priced out of their market and are also searching for a better lifestyle.
This has seen the Newcastle median house sale price grow 7.4 per cent in the past three months to $690,000 — or about $2300 per week.
The median sale price for houses in Newcastle is $690,000 and $540,000 for apartments.
Apartments have grown 6.9 per cent in the previous three months to $540,000, according to realestate.com.au.
Ray White Newcastle principal Darren Penn said the market had been “ridiculous” in the past three months with March having the highest buyer activity he had ever seen.
“We had a 250-300 per cent increase in our sales volume than a typical March,” he said.
Mr Penn said while Sydney buyers remain active, they had dropped off slightly due to many
frustrated with Newcastle’s surging house prices.
“Sydney buyers really have no one else to blame for the surge in house prices but themselves as they are bringing in a lot of money,” he said.
The Ray White principal said he expected the coming months to be favourable towards sellers because there were under 800 properties on the market in Newcastle — 400 fewer than last year.
Thirdi Group’s upcoming Stella development has been very popular with Sydney buyers.
“This has seen many buyers look towards developments as there is not enough stock to go around,” he said.
Developer Thirdi Group saw lots of Sydney buyers purchase in their Eaton and the nearly completed Stella developments in Wickham. The group’s director of sales marketing Luke Berry said Sydney buyers were fed up with paying a lot to live on the city fringes.
“Newcastle is appealing because it is not just cheaper but also allows them to get a brand new apartment in the inner city near the beach,” he said.
“We’ve had buyers renting old two-bedroom units in Bondi for $1500 per week and are relocating to a brand new three-bedder for half the price.”
Mr Berry said there has always a trend of people leaving Sydney for more affordable areas, but has been sped up by Covid-19.
The Stella development is due to open in the coming months.
“The ability to work from home has made Newcastle a great location as Sydney buyers can work remotely for most of the week and commute by train for a day or two,” he said.
Mr Berry said the majority of buyers relocating from Sydney had been young families and first homebuyers, but added there had been a trend of parents also following their kids to Newcastle.
This trend will see Thirdi look to target both demographics with their new Dairyfarmers project in Wickham and an over 55s development at Merewether Golf Course that will launch in the coming months.
“We are designing these products to be attractive to Sydney buyers,” Mr Berry said.
Former Sydney resident Anthony Wood recently moved into Thirdi’s Eaton on Union development at the end of last year.
“Dairyfarmers will have high quality finishes and also spaces that will allow buyers to work remotely.”
Former Sydney resident Anthony Wood and his family moved to Thirdi’s Eaton development in Wickham last December after being priced out of the Sydney housing market and craving a better lifestyle.
“Our move to Newcastle has seen us get significantly more bang for our buck,” he said.
“We’ve also been able to achieve a lifestyle similar to North Narrabeen on the northern beaches.”
Mr Wood added the dream of owning their own property combined with living on the beach and near the city made the move worth it.
▲ Research indicates “shop top” developments like Balfour Place achieved an average 16 per cent premium on prices compared to suburb averages.
