Australian property developer Third.i continues to defy the property market downturn, exchanging on a string of record-breaking apartment sales across two projects in Newcastle and one in Coffs Harbour.
As the first project for Third.i in Coffs Harbour, Sable at the Jetty has been met with strong interest, with the penthouse selling for $2.35 million, recording a record for the region.
Over 80 per cent of the apartments have been sold since launch in October last year, with Third.i’s Co-Founder Luke Berry saying the strength of the sales at Sable at the Jetty demonstrate that regional cities are seeing a consistent uptake of sales activity.
“There is still growth in the market here, with property sales in the New South Wales north coast holding steady,” Berry said.
“There’s heaps of opportunity for growth in Coffs Harbour and this record penthouse sale tells us buyers feel the same way.”
With only a handful of apartments remaining, the $35.5 million project is set to deliver a mix of one, two and three-bedroom residences, with construction due to commence in the coming months, with completion slated for mid-2024.
Located on the corner of Collingwood and Edgar Streets, Sable at the Jetty is within walking distance from the beach, local schools, cafes and shops, and also offers numerous transport links at your doorstep. Remaining apartments are priced from $650,000 to $1.6 million.
Sable at the Jetty joins a growing list of Third.i’s record sales in New South Wales, following three record sales in Newcastle, with the sale of the penthouse at Dairy Farmers Towers going for $6.5 million and two back-to-back $3.5 million penthouse sales at the group’s retirement living project, The Merewether Residences.
The extensive whole floor penthouse in Dairy Farmers Towers, located at 924 Hunter Street, Newcastle West sold to a local family who swooped in to secure their slice of the iconic project which pays homage to the site’s history as the original head office for Dairy Farmers Limited in Australia.
The buyer is a Hunter Valley legend, winemaker and businessman, who says the level of offering at Dairy Farmers was exactly what he and wife were looking for in an inner-city abode.
When asked about the status of setting a record with their purchase, the buyer said, “We love Newcastle and Novocastrians, and are excited to have an apartment there. We can’t wait to move into such an iconic property and participate in the fantastic social activities Newcastle can offer.”
The four-bedroom, three-and-a-half-bathroom, four-car property features multiple living and dining rooms, a separate chef’s kitchen, bar and adjoining wine cellar, library, and study.
All rooms will have three-metre high ceilings and floor to ceiling glazing, which will deliver 360-degree views of Newcastle all the way to the Broken Back Range in the Hunter Valley, a crucial feature for the buyers who previously lived under the Broken Back Range.
The project has also been met with a swarm of interest from downsizers and owner occupiers, with more than 70 per cent of the project sold since its launch in late 2022.