DIVERSIFIED property company Third.i has been given the go ahead for its Dairy Farmers Towers mixed-use project in Newcastle’s West End.
With approval from the City of Newcastle now in hand, Third.i will offer the market 184 one-, two- and three-bedroom towers across two towers above five floors comprising a resident exclusive co-working hub and 1,600sqm of commercial and retail space.
This latest green light comes off the back of Third.i and Toohey Miller’s $650 million Warada on Walker development was approved in May by the North Sydney Council.
Built at the site once occupied by one of the country’s largest producers of dairy, Dairy Farmers, Third.i is using the heritage-listed milk bottle and clock towers for a pedestrianised public art installation.
“The West End is quickly becoming Newcastle’s beckoning lifestyle hub, complete with an eclectic mix of urban flair and character. Dairy Farmers Towers joins our stable of West End projects and has already become a legacy project for everyone to enjoy,” said Luke Berry, co-founder and director of Third.i.
The towers will, in addition to the co-working space, feature exclusive resident amenities such as cabana pool areas, a wine bar and cellar, gym, pilates studio and multiple function rooms.
The project will include eight Special Disability Accommodation apartments, with Third.i set to partner with multiple Specialist Independent Living Advisors in delivering the residences.
Dairy Farmers Towers will also offer potential home buyers an exclusive deposit scheme, in collaboration with CoPosit.
“We are thrilled to receive our development approval from the council for Dairy Farmers Towers, a project that is providing achievable deposit schemes for those looking to secure their slice of the real estate market,” added Berry.
Marking a first of its kind in Newcastle, the scheme will see a fee-free app-based service established, enabling buyers to purchase a property with just $10,000 in savings with the remainder of the deposit paid over weekly instalments.
“Using the scheme can also save buyers money in the long run as well as securing a new build property now rather than buy one after completion at higher prices, which has seen a lot of buyers traditionally priced out of the market,” said Berry.
Construction on Dairy Farmers Towers is set to commence in the third quarter of 2022, with completion currently anticipated for Q4 2024.
“Residents will have some of the best views in town, as well as access to the harbour, great dining and entertainment options, and the transport interchange at their doorstep. We wanted Dairy Farmers Towers to be a West End icon, a landmark reborn to create a new chapter as a great place to live, work and play. With construction commencing later this year, we can’t wait to do exactly that,” concluded Berry.