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The apartment complex promised “excellent levels of luxury” in the “Silicon Valley of Australia” as well as “corporate prestige” to potential buyers. But the reality for owners has turned into a nightmare.
Six buildings make up the nbh at Lachlan’s Line complex, which boasts resort-style living for the residents of its 885 units.
The promotion of luxurious living stands is in stark contrast to the news that the building has serious damage to the concrete in its basement and is at risk of collapse, according to the NSW building authority.
Greenland Australia, the developer behind the project, says the building was “designed without compromise”, with the stated vision for the project being to build “quality residential apartment living”.
One-bedroom apartments in the complex sold for about $775,000 in late 2023, while two-bedroom and three-bedroom offerings sat around the $1 million mark.
In marketing material available online, listed selling points included the building’s 23-metre swimming pool and gym.
Touted as a “new contemporary urban village”, the development includes parkland, retail, public art and purpose-built bridges and roads to connect residents to North Ryde station, situated 250 metres away.
The retail plaza precinct on the ground floor of nbh includes “alfresco dining options” and direct access to the Macquarie shopping centre via a walkway.
Dubbed a “transit-oriented development”, focal points included its proximity to the CBD, with a promised 30-minute train trip and 25-minute express bus ride between the development and the heart of the city.
Greenland’s advice to real estate agents also included highlighting the Macquarie Park area, which it dubbed the “Silicon Valley of Australia” due to the presence of tech companies in the suburb.
Real estate promotional images highlight the location of nbh at Lachlan’s Line, Macquarie Park.
It touted the “corporate prestige” of life in the fourth-biggest business centre in Sydney.
RMA Projects, the real estate firm tasked with the initial sale of the apartments, says the apartments were completed to the “highest standard of finish” with the inclusion of features such as “Ceasarstone [sic] island benchtops and Miele appliances”.
Units currently listed for rent were priced as high as $740 a week for a two-bedroom two-bathroom furnished apartment.
A rental listing from Lux Property Group promotes the “peace and tranquility [sic]” of the “resort-style amenities” including the communal courtyard and uplifting sky gardens.
According to the advertisement, the apartments boast “excellent levels of luxury” throughout, and “stunning outlooks”, while “upper-level apartments enjoy dazzling CBD, Chatswood and district views”.
Some sale listings specifically targeted first home buyers, with a listing posted by MLL Invest on Homely opening with “First home buyers well come [sic].”
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