"Research removes risk" as buyers descend on Willoughby Grounds: Urban Buyer Q&A
It was a case of research reward rather than risk reward for Mark Fitzsimmons and his fiance Sophie, who recently secured an off the plan apartment in the new Willoughby development, Willoughby Grounds.
The couple had initially been looking for a house toward the upper end of the Northern Beaches. That search however quickly ended when they discovered Willoughby Grounds.
While Mark and Sophie currently reside in the eastern suburbs and work in the CBD, Mark says the couple grew up in Wollongong and enjoy being close to the water, so they were looking for something near the water but also close enough to their workplace that would provide a short commute.
"For us, Willoughby struck the right balance between offering us a short commute to work each day and a gateway to the northern beaches on the weekend. There is a bus stop across the road that allows us to get to the city in 10 minutes and we can be at the beach in 20 minutes on the weekend."
There wasn't any hesitancy from the couple after they went to the onsite display suite.
"Provided you do your research, we believe there's no reason why a buyer shouldn't look at the off the plan market," Mark suggested, adding that the couple had bought off the plan previously in Canberra.
"The local developer has worked on several residential buildings in Mosman and Manly and has a solid reputation. With a reputation, a funder locked in, and the building under construction, we were more than confident to buy off the plan."
The development team behind Willoughby Grounds are First Quadrant Properties, led by property development veteran Chris Rose, and funding partner Qualitas.
"We were able to meet with the developer and were familiar with their work in the area. This combined with the knowledge that the builder was iCIRT rated provided us with confidence in the build"" Mark added.
Willoughby Grounds, almost presenting as mini-masterplanned community, comprises five lowrise buildings, each paying homage to Willoughby's industrial history.
The development will have around 160 apartments spread across the five buildings, with just 22 to 35 units in each.
Construction of Willoughby Grounds is being undertaken by the iCIRT rated builder DASCO.
Mark and Sophie took part in Urban's Buyer Q&A series which focuses on the driving factors behind buying off the plan property in Australia.
