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Sydney project sells over A$229m worth of units

PropertyGuru

Strong sales amounting to over $229 million have been recorded at the launch of DUO, the latest residential development by Frasers Property Australia and Sekisui House Australia at the A$2 billion Central Park urban village in Sydney.

Launched to the Australian market last week, the project comprises a range of one- to three-bedroom apartments, including dual-key units. Prices start from A$625,000 for a one-bedroom suite.

"Apartments were snapped up across the full spectrum of the residential offering," said Paul Lowe, Frasers Property Sales and Marketing Director.

"One-bedroom suites, one-bedroom + study apartments and two-bedroom apartments were purchased by a mix of owner-occupiers and investors.

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We also experienced strong sales and interest for the three-bedroom dual-key apartments in DUO which were offered for the first time ever at Central Park. Dual-key apartments are a unique product type in the market and have proven to be ideal for investors wanting to stay in one apartment and lease the other one out, as well as growing families who desire space and flexibility in apartment living.

Weve now successfully sold over 1,800 apartments across the entire Central Park precinct to-date. The average apartment sales price at the DUO launch was just over A$1 million.

Central Park is one of Australia's largest urban renewal projects involving the redevelopment of the former Carlton United Brewery site. Occupying 5.8 hectares in Sydney's downtown, Central Park will comprise 2,200 apartments upon completion.

The development also includes a major shopping centre, dining districts and open parklands. Educational facilities are also within walking distance.

Image: Artist's impression of DUO at Central Park, located in Sydney.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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