ALAND launch Gosford apartment tower Archibald by ALAND
A Central Coast tower that was originally approved over seven years ago has finally arrived in the heart of Gosford.
Prominent Sydney developer ALAND expanded on the plans after acquiring the 5656 sqm site at 108 Donnison Street in June.
Named after Archibald Acheson, the second Earl of Gosford, the two-tower development will be home to 323 residential apartments, 130 hotel rooms, multiple food and beverage tenants, plus a whole floor 960sqm sky bar.
ALAND CEO George Tadrosse said the revitalised development would be worth the wait given its tremendous offering and outstanding location.
"This is an excellent opportunity to offer an unmatched product to Gosford and add a significant new addition to the local skyline," Tadrosse says.
"As a result of careful consideration, we believe we have created an exceptional contemporary design that will appeal to holidaymakers, local buyers, purchasers moving to Gosford, and investors looking to capitalise on the growth potential of this thriving community."
John McGrath, CEO of McGrath Estate Agents who are marketing the project, said the Central Coast is poised for impressive price growth performance.
“With a perfect blend of coast and country lifestyle, combined with an easy drive to one of the biggest cities in the world, it has everything the market wants," McGrath said, adding that the growing work from home trend has made it an even more in-demand lifestyle.
“Gosford is rapidly emerging as one of the most exciting fast-growth commercial hubs on the east coast of Australia and provides the area with the long-awaited commercial and retail opportunities it’s been crying out for.”
Despite a widespread price correction across many residential markets, McGrath said the thriving region has great long-term prospects.
“The Central Coast has been impacted along with almost every other market in the country, but the growing trend towards sea and tree changes - coupled with work from home demands - has positioned this market for a softer landing and a more rapid bounce when interest rates stabilise.
“A very large section of the growing demand for the Central Coast are both big city downsizers from nearby Sydney as well as professional couples and families. Apartment living has never been more in-demand by these groups.” McGrath also suggested Archibald will suit Sydneysiders seeking a nearby getaway within an hour of Sydney.
The two buildings will house one, two and three-bedroom units, plus three and four-bedroom penthouses, all with access to resort style facilities and many with views of Brisbane Waters and the city skyline.
Apartments in the development range in sizes from 58 sqm to 280 sqm, with a one-bedroom starting from $475,000.
Jaimie Woodcock, principal of McGrath Central Coast, said Archibald by ALAND is a breath of fresh air for the region.
“We've been waiting a long time for a development that has something significant to offer the area. This has the hotel offering, a significant food and beverage offering as well as a gym and pool," Woodcock said, adding that the price point has already proven attractive for prospective buyers.
“We’ve had a lot of investors and first home buyers looking because they can buy in brand new under $750,000 with an extraordinary view and all of those added offerings, and that’s a compelling attraction to so many purchasers right now," Woodcock says.
