First home buyers and investors in Newcastle will find it easier to secure their slice of the property market with Australian developer Third.i releasing a second round of apartments at its Dairy Farmers Towers project under the exclusive Coposit scheme, which sold out amid buyer frenzy late last year.
The project was the first in the region to offer a deposit scheme in collaboration with Coposit, which allows buyers to purchase a property with a $10,000 deposit via a fee-free app and the remainder of the deposit paid off via weekly instalments.
Since its launch to market in late 2021, Dairy Farmers Towers has sold over 70% of the entire project, and with demand from buyers continuing to soar amid tough market conditions, Third.i has again teamed up with Coposit to release a new series of Coposit apartments.
With only a limited number of apartments available to purchase through Coposit, Third.i’s Co-Founder Luke Berry anticipates they won’t last long as regional cities across the New South Wales coastline witness continued heightened sales activity despite a slowing market.
“We’re excited to be partnering with the Coposit team again to release a new collection of apartments for first home buyers. We saw extraordinary demand for this type of offering and we’ve really listened to the needs of the market, particularly in an industry that’s witnessing an economic downtown,” said Mr Berry.
“Here at Third.i, we’re creating homes for all Australians, not just building houses. This scheme offers a chance for prospective buyers to break into the property market who might not have otherwise been able to.
“Works at Dairy Farmers Towers commenced in November last year and we anticipate building works will wrap up in the first quarter of 2025. This project is the heart and soul of Newcastle’s revitalisation, and I can’t wait to see each and every buyer make their new house a home over the coming years.”
According to Chris Ferris, Founder & CEO of Coposit, “Third.i was quick to see the benefits of Coposit for their buyers at Dairy Farmers, proving they are the champions of first home buyers in the Hunter region. It’s incredible to be working together again in the next stage of the project.”
Early works kicked off late last year to bring Dairy Farmers Towers to life and bring forth the dream of owning your own home to many first-time buyers.
Dairy Farmers Towers will bring forth 180 one, two and three-bedroom apartments, over two towers and, in a Newcastle first, an exclusive residents’ only shared work hub, alongside other blue chip amenities including yoga studio, sprawling outdoor gardens and an elevated North facing outdoor swimming pool and sundeck.
As one of the largest providers of Specialist Disability Accommodation along the east coast of Australia, the project will also offer eight SDA apartments in partnership with iNSiTU Housing.
Third.i’s revitalisation of Newcastle continues following its debut projects WEST Newcastle, Eaton on Union and Stella on Hannell, with Dairy Farmers Towers adding to its growing $4 billion property portfolio across Australia and the UK.
As the group continues to expand internationally, Third.i is also set to deliver a range of residential and commercial offerings across NSW and London. Third.i is one of Australia’s leading property development and investment firms with an enviable track record in successfully delivering large-scale residential projects in Sydney and Newcastle. With a current development pipeline exceeding $4 billion, Third.i’s experience and drive to deliver architecturally inspired spaces are key reasons for their ongoing success.