THE property market is red hot and so too is the performance of property developer Crown Group as V by Crown in Parramatta reaches a momentous $150 million in sales this week.
The successful development located in the heart of Parramatta has steam-rolled a pathway to success selling 277 apartments in the 18 months since launching in mid-2012.
This milestone comes shortly after V by Crown celebrated reaching 250 apartments sold in November last year as rising demand sees strong sale rates continue for the off-the-plan development.
V by Crown is a $309 million 29-storey residential apartment building which when complete will feature 519 luxury apartments and resort-style facilities including a pool, gym, conference facilities, music room, theatrette and a library.
The exceptional sales success sees Crown Group successfully trail blaze five-star, resort-style living at an affordable price point in Sydney’s rapidly evolving property market.
V by Crown Sales Manager Anthony Falas says the strong results are a reflection of demand for a premium quality product in the Parramatta CBD.
“You are looking at a luxury development offering the highest level of finishes as well as a location that is literally walking distance to all amenities,” he said.
“Our purchasers have shown us that a well-located, high quality development with premium facilities will always be in demand.”
The development has attracted strong interest from owner occupiers and investors alike looking to capitalise on the growth in the Western Sydney region as well as the growing taste for convenient, urban living.
“Parramatta is a real estate hot spot and all signs are showing that activity is only likely to accelerate with the proposition of significant infrastructure, growth of commercial premises and an increasing population.”
“Only last year Parramatta was named the country’s fastest growing night-time economy.
“It’s a recipe for momentum,” Mr Falas said.
With more than 90,000 workers flocking to Parramatta each day the city commands a growing presence one of Sydney’s largest commercial epicenters.
“There is an intensifying demand to provide quality, residential living close to employment hubs,” said Mr.Falas.
V by Crown is located in the heart of Parramatta’s city centre, close to Church Street’s eateries and Westfield shopping centre, rail and ferry connections, as well as Parramatta Heritage Parklands.
V by Crown is expected to complete in mid-2016. Prices start from $418,000.
About Crown Group
Crown International Holdings Group (Crown Group) is a leading Australian property group, active in property development and property investment in Sydney.
The company was co-founded by architect Mr Iwan Sunito and engineer Mr Paul Sathio in 1996.
Iwan Sunito graduated with Bachelor of Architecture (Hons) and Master of Construction of Management from University of NSW. In 1993 Iwan became a Registered Architect in NSW and was awarded the UNSW Eric Daniels award for excellence in residential design.
Paul Sathio graduated with a Bachelor degree in Civil Engineering from University of Technology Sydney (UTS) and a Masters of Engineering Science from University of NSW. Paul has more than two decades’ experience in the construction and development industry.
Crown Group was recently awarded the Urban Development Institute of Australia (UDIA) NSW President’s award – considered one of the highest property development accolades in Australia – for its resort-style development Top Ryde City Living.
Top Ryde City Living was also named best High-Density Development in NSW and ACT at the UDIA NSW awards for excellence 2013 and a Master Builders Association Excellence in Housing award 2013.
Crown Group’s other award-winning developments include a joint venture with Prosha Pty Ltd, The Eastlakes Town Centre, awarded UDIA NSW best Concept Design 2013, the innovative, waterfront development Sanctum by Crown, awarded a Master Builders Association Excellence in Housing award 2012 and the hugely-successful ICON at Homebush, awarded HIA (Housing Industry Association) CSR Housing Awards 2007 Apartment Project of the Year.
Since the company was founded 17 years ago, Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes.
Today, Crown Group boasts a $3 billion portfolio of projects under development and in the pipeline and is currently developing four major projects, Top Ryde City Living, a seven-tower development in Top Ryde, Viking by Crown, a 10-storey residential complex in Waterloo, V by Crown, a 27-storey residential tower in Parramatta and Skye by Crown a 20-storey development in North Sydney launched in June 2013.
Crown group launched Viva by Crown, the final stage of Top Ryde City Living in August and will launch a development in Sydney’s CBD in 2014.