Third.I to partner with Coles and PPI for mixed-use Lindfield development, Balfour Place
The Sydney property developer Third.i, along with their joint venture partner Phoenix Property Investors, are joining forces with Coles Group to create Balfour Place, a mixed-use precinct in Lindfield on Sydney's lower north shore.
The mixed-use residential, retail and commercial precinct will span over 7,000 sqm and will see 62 apartments built on top of a large format Coles supermarket, Liquorland, café, and a heritage commercial space fronting Pacific Highway.
Residents having access to a private courtyard and rooftop gardens.
It's the third time Third.i and PPI have worked together, having previously had huge success at the luxury Kurraba Residences, as well as the commercial precinct Blue & William in North Sydney.
Thirdi Group Director & Co-Founder, Luke Berry, said that his company and PPI were thrilled to be working alongside Coles Group, community stakeholders and Ku-ring-gai Council to finalise a shared vision for the site before a planned sales launch of the project later this year.
“When Third.i started working with Coles, we quickly identified there was an opportunity to improve the residential elements of the DA, so with the support of Coles and award-winning architects Rothelowman, we re-imagined the apartment layouts and created a mix of larger apartments, perfect for the downsizer and young families we see as the likely purchasers of our apartments," Berry said.
Third.i’s proposal is to reduce the numbers of apartments from 70 to 62 to offer more space to residents and deliver less impact on neighbours and the community. Third.i is finalising their modification of the existing DA and plan to submit to council in early October and start the second stage of construction in the 1st quarter of 2022.
Stage 1 of construction has already commenced with Coles Group managing the realignment of Balfour Lane at the rear of the proposed site before handing over the delivery of the mixed-use development to Third.i.
CBRE has been appointed as the lead agent to market the development and sales director, Ben Stewart said that exceptional convenience will underpin Balfour Place residences, with location amongst its strongest selling points.
“The latest offering by Thirdi Group has it all in terms of proximity to a train station and quality schools, as well as being positioned in a highly coveted north shore suburb, where new apartment developments are scarce, particularly for downsizers,” Stewart said.
“Our market research has indicated that demand for high-end, conveniently located new apartments in the area is strong, with almost all initial inquiries coming from local residents.
“Further to this, studies show that ‘shop top’ developments like Balfour Place achieve an average 16% premium on prices compared to suburb averages so we see this project offering a similar dynamic to purchasers that secure an apartment early in the launch.
“As with all Thirdi Group projects, the utmost consideration will be placed on delivering luxuriously appointed, high-end residences with beautifully landscaped gardens and an outstanding lifestyle offering and this is what purchasers should expect with Balfour Place."
