Fiona Killman, Real Estate Reporter
Updated 22 Sep 2023, 11:17am
First published 19 Sep 2023, 1:49pm
New sales milestone – and new images – released by Gosford’s luxury development Archibald by ALAND.
Luxury apartments across Gosford are selling fast.
It appears Sydney investors and first homebuyers have been the quickest to snap up apartments in the sough-after Archibald by ALAND development.
The $375 million development is now two-thirds sold since designs for the project were unveiled to the public earlier this year.
Sydney developer ALAND bought the 5656sq Mann St site in June 2022.
Construction is underway on Archibald by ALAND.
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Construction has started on plans for 323 apartments and penthouses, plus a 130-room hotel and a range of food and drink offerings, including a SkyBar and Lounge on Level 28.
ALAND chief executive officer George Tadrosse said the strong sales performance aligns with the company’s confidence in the future of Gosford as a regional hub that is benefiting from investment in its educational, transport, medical and tourism infrastructure.
Some of the major projects include a new University of Newcastle campus, a new TAFE NSW campus and the expansion of Gosford Hospital.
Mr Tadrosse believes that Sydney investors and owner-occupiers see the apartments as “value for money” given their coastal location and luxury amenities.
Artists impression from inside the luxurious development overlooking Brisbane Water.
The development is two thirds sold out.
Artists impression of the cafe planned at Archibald by ALAND.
“This development is without peer in Gosford, offering an unmatched level of amenity and potential for capital growth that would be impossible to find at this price in Sydney,” he said.
“Residents will enjoy a five-star hotel lifestyle, with resort-style facilities and will be just minutes from the waterfront, national parks and the Central Coast’s iconic beaches.”
With construction underway, locals have been fascinated to see the arrival of the two luffing cranes.
The Raimondi cranes have been imported from Italy for the project.
“These cranes use hydraulics rather than cables to raise and lower the jib and so they are very safe, as well as being a lot more energy efficient,” Mr Tadrosse said.
Aerial view as the cranes arrive at the site.
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“They are also capable of reaching up to 140 metres, which is 30 metres above Archibald’s highest point, so they are exceptionally tall.”
Archibald by ALAND has been in demand since it was launched to the market with 215 apartments and penthouses selling out in under eight months. Early launch prices starting at $475,000 for a one-bedroom apartment.
“Until August, our local sales team concentrated on the Central Coast owner-occupier market, including first-home buyers – and the response was immediate,” Mr Tadrosse said.
“First-home buyers love the value of our product and are also taking advantage of the various government housing schemes, such as transfer duty relief, now available.
“But once we started running sales events with our Sydney agents, we discovered a large demand from Sydney investors in this high-growth area. Buyers were impressed by the high quality of the product and the region’s strong rental yield, low vacancy rates and capital growth statistics.”
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Fiona Killman, Real Estate Reporter