Council gives green light for Dairy Farmers Towers, paving the way for Newcastle’s latest apartment development
Poised to bring the next generation into the property market, heavyweight property developer Third.i has received the green light from the City of Newcastle council to bring its latest offering to reality, the Dairy Farmers Towers project in the heart of Newcastle’s West End.
The project burst onto the market just a few months ago, drawing buyer attention before the project had even launched.
The Dairy Farmers project is set to deliver 184 one, two and three-bedroom apartments over two towers, topping a five-storey residents’ only shared work hub with over 1600 sqm of commercial and retail space.
Third.i is also one of the largest providers of Specialist Disability Accommodation apartments along the East Coast of Australia, partnering with numerous Specials Independent Living Advisors to provide suitable accommodation in their large scale developments, including Dairy Farmers Towers, which will deliver eight SDA apartments.
With development approval under its wing, Third.i will commence construction in the third quarter of this year with expected completion for the back end of 2024.
The project will offer an exclusive deposit scheme, a first for Newcastle, in collaboration with CoPosit, which will see a fee-free app-based service allowing buyers to purchase a property with just $10,000 in savings, with the remainder of the deposit paid over weekly instalments.
Third.i Co-Founder and Director, Luke Berry, says the DA approval paves the way for Third.i to fulfil a dream to help people enter and re-enter the property market with overwhelming local support from hungry buyers.
“We are thrilled to receive our development approval from the council for Dairy Farmers Towers, a project that is providing achievable deposit schemes for those looking to secure their slice of the real estate market,” said Berry.
“The West End is quickly becoming Newcastle's beckoning lifestyle hub, complete with an eclectic mix of urban flair and character. Dairy Farmers Towers joins our stable of West End projects and has already become a legacy project for everyone to enjoy. When you’ve also got the CoPosit initiative to help Australians purchase their first homes, I couldn’t be prouder of the calibre that will soon be brought to life with this DA approval,” he added.
Berry also noted how using the scheme could save buyers money in the long run as well as securing a new build property now, rather than buying one after competition at a higher price, which sees a lot of buyers traditionally priced out of the market.
Dairy Farmers Towers is set to include a deluxe range of exclusive amenities featuring co-working spaces, cabana pool areas with a lap pool, a wine bar and cellar, a state-of-the-art gym and a Pilates studio, as well as multiple function rooms.
A young buyer who purchased through the CoPosit scheme said that if not for the scheme offered at the project, it would’ve taken them an additional two years to save for a normal deposit.
“What drew me to Dairy Farmers Towers was the bespoke amenities on offer and the opportunity to purchase through CoPosit. I have never seen such a great initiative within Newcastle that assists first home buyers get into the market at such a high-quality level of development,” said the Dairy Farmers Towers buyer.
“The process was really simple and straightforward. I have been really impressed so far with the service and how many people there are to assist with any of my questions. I think more people should consider purchasing with CoPosit because of how easy and rewarding it has been being able to actually put my name on my dream apartment without having to wait another two-years to save my deposit.”
The green-lit Newcastle West site was once home to Dairy Farmers - one of Australia’s largest dairy producers.
In a nod to the history of the site, Third.i has reimagined the heritage-listed, iconic milk bottle and clock towers as part of the project through a pedestrianised, broader public art installation.
“Residents will have some of the best views in town, as well as access to the harbour, great dining and entertainment options, and the transport interchange at their doorstep. We wanted Dairy Farmers Towers to be a West End icon, a landmark reborn to create a new chapter as a great place to live, work and play. With construction commencing later this year, we can’t wait to do exactly that,” concluded Berry.
