Fortis secure sales flurry at MONA, Darling Point
The national property developer Fortis has seen a flurry of sales at the recent launch of its luxury Darling Point apartment project, MONA.
Some 60 per cent of the apartments on offer sold, with CBRE's Premium Sales division head Ben Stewart noting the two and three-bedroom apartments sold well.
"Our team are feeling very encouraged by the initial lot of sales achieved," Stewart says, adding that there's still a very good selection of stock remaining.
The two-level penthouse, with 253 sqm of internal space as well as its own rooftop terrace and swimming pool, was sold even before the recent launch event. It was bought by property developer Michael Barakat for $13.75 million, a sale reflecting $55,000 per sqm. There was also a $7.8 million sales to a local downsizer.
MONA, named after its location on Mona Road, one of Darling Point's best streets, has been designed by MHNDU to blend old-world charm with New York chic.
Stewart said the one and two-bedroom apartments are garnering a lot of enquiry from parents assisting their children.
"It’s a great way of getting them into forced saving for a long-term asset," Stewart suggested.
"MONA has already started to attract this type of buyer because of its location, as well as being a striking looking development that will prove to be a great short to long term investment."
Fortis Director Charles Mellick said there has been a mix of owner-occupiers and downsizers who have come from the Eastern Suburbs (Elizabeth Bay, Bellevue Hill, Rose Bay) looking at the two- and three- bedroom residences, with many owner-occupiers coming from the Lower-North Shore (Killara and Linfield) as well as the Inner-West.
Initially Fortis had earmarked the site for a commercial project and ground-floor retail, but Mellick said the current market demand and limited supply for residential is so strong, that with the 180 degree city and harbour views and accessibility to local amenity this really made the location the perfect place for high-end city fringe living.
"Something that is hard to come by and that result is clear with the high demand on sales and response on our sales launch weekend."
The creative inspiration for MONA comes from the history-steeped harbourside corridor it overlooks. The design by MHNDU pays deep respect to the architectural details of the original brick apartment buildings and the bustling inner-city neighbourhood.
The ‘blade edge’ form of the residential tower delivers a boldly modern street presence, complemented by a north-facing glazed façade and rooftop sky terrace with unobstructed views.
