Buyers to move into Lane Cove North's first LDI-protected apartment development as Scion wraps up Sterling construction

Buyers are preparing to move into their new homes in Lane Cove North, with construction now complete on Sterling, the latest development by builder-developer Scion Group.

The five-level project, located at 2 Merinda Street, comprises just 50 one, two, and three-bedroom apartments to an area starved of new apartments.

Designed by Design Corp Architects, Sterling’s architecture draws on Lane Cove’s natural surroundings, with a neutral palette, generous balconies, and integrated landscaping.

The family-run Scion took over the build that had already commenced construction, the first time the company had done so since it was founded by Sam Jabbour in the early 1990s.

Their minds were set at ease instantly when they were told the development had Latent Defects Insurance and had undergone the technical inspection service program by reputable industry experts since commencement.

Sebastian Jabbour, Director of Operations at Scion, says it gave the team confidence to take on the project.

“Because we weren’t the developer who had brought on Latent Defects Insurance, we weren’t fully aware of all the benefits that came with LDI,” Jabbour says.

“It was remarkable how thorough the building inspections by the Technical Inspection Service were. It meant we had a third party ratifying the part of the build process we weren’t a part of - which was really the driver in us getting involved in the project.”

Latent Defects Insurance, an insurance only offered in Australia by Resilience Insurance and taken out on the building rather than by each individual owner, protects apartment buyers from any structural, 

LDI offers 10 years of protection against structural or design defects post-completion, providing a level of assurance that is proving to be a game-changer in the off the plan apartment market.

Ray White Projects Western Sydney Managing Director Mark Bernberg, who is handling the sales, says there have been purchasers who are buying because the development has LDI.

"LDI is a true game-changer for the new and off the plan apartment market," Bernberg says.

Sterling has attracted a diverse mix of buyers, including first homebuyers, downsizers, and investors drawn to the area’s lifestyle offering and connectivity. 

There are just a handful of apartments remaining in Sterling.