With more than $100 million in sold apartments, a premium residential complex located between Bondi Junction and Woollahra is setting new sales records.
The first phase of the Centennial Collection, developed by Stargate Property, sold out in a matter of months, and more than half of the apartments in stage two have already been purchased.
Marcello Bo at Ray White said: “Buyers have been mostly local owner occupiers and people looking to downsize when the building is completed in Q4 2025.
“This is a product which hasn’t been available previously in the area [and] we’re providing larger proportions where people can be comfortable selling their larger home and moving sky high.”
Bo said the apartments had been achieving record prices for the area.
“We sold a three-bedroom apartment for $7.5 million, which is a record for a three-bedroom apartment in Bondi Junction.”
The Centennial Collection is located in Sydney’s Eastern Suburbs and includes communal spaces that offer views of Centennial Park from the parkside as well as a rooftop pool with outdoor dining and entertainment areas.
The building also contains a wellness centre with a focus on wellness, a winter pool, and a concierge service.
Marcello Bo at Ray White said buying off-the-plan was becoming increasingly popular.
“Ray White Projects sold several apartments between $12 to $29 million at the end of last year which showed us the market trend of people transferring out of a big family trophy home to something they can lock up and leave.
“This project is still 18 months away, so a lot of buyers are planning their relocation and lifestyle change in advance.
“It gives them time to prepare their family home for sale and time it with the completion of the Centennial Collection,” said Mansour.
Mansour said more projects were starting to come to market as construction prices stabilised.
“We’ve been working with a number of premium developers in bringing their projects from concept to market, with a number of them slated for a 2024 launch.
“We’re seeing a decline in availability of developable land and new development sites being purchased. The complexity of trying to get approvals is making things more difficult,” said Mansour.
