Melrose Central apartments fly off the shelves at weekend launch
Buyers have jumped at the opportunity to become among the first to secure an apartment in the first apartment release at Melrose Central, the new multi-stage masterplan by Deicorp and PAYCE in the transformative Melrose Park urban renewal project.
CBRE took 40 deposits on the opening launch of the display suite at Melrose Central which will deliver a new community in the heart of the new Melrose Park Town Centre, on the edge of the Parramatta River. It will comprise around 500 apartments set above 30,000 sqm of retail and commercial space.
CBRE Residential Project Managing Director, David Milton, says Melrose Central represents great value for buyers.
"Our two-bedroom, two-bathroom apartments are priced under $1 million. If you go to any of the neighbouring suburbs, you can't get that kind of value," Milton suggests.
Milton says the buyer pool has been diverse, with first home buyers, local owner-occupiers, and even investors purchasing.
Since the bumper sales day at the weekend, CBRE has signed several more contracts, taking sales closer to 50.
Designed by TURNER STUDIO, the $700 million Melrose Central is a key component of the 55-hectare Melrose Park North Urban Renewal Precinct near the Parramatta River.
Melrose Central is positioned to offer residents the convenience of living near a major shopping centre, parks, and open spaces, all within proximity to the planned Parramatta Light Rail.
The development will include six buildings, each with its unique design elements, rising above a five-level podium that will house a Coles supermarket, specialty stores, health and wellness facilities, and various retail and hospitality venues.
Work on the site has already begun in February, and stage one will see the construction of the podium and three of the six buildings, with completion expected by mid-2027.
The remaining three buildings will follow, culminating in a development that will contribute to the broader Melrose Park precinct which in total will deliver around 6,000 apartments to Sydney's chronically undersupplied housing market.
The Melrose Park urban renewal project has been eight years in the making, with initial planning discussions dating back to 2016.
