- Domain Commercial Real Estate
A new development in Botany is attracting young urbanites who fear being priced out of Sydney’s Eastern Suburbs.
Associate Director of new projects at Ausin Group, Sean Dowling, says the neighborhood, sandwiched between Mascot and Banksmeadow, and within walking distance of a major artery such as Botany Road, is convenient in a manner that’s hard to beat.
Dowling adds that Botany, part of the new Bayside Council district, provides “an Eastern Suburbs postcode without the prohibitive price tag” with Pemberton on the Park proving to be a preferred address for first home buyers and downsizers alike due to its proximity to the city, beaches and airport.
“Botany is the last affordable area in the Eastern Suburbs. Our main buyer type will be first-home buyers who live in the east, work in the east (or CBD) but find that Bondi, Coogee, Randwick and Maroubra have become too expensive,” he says.
Dowling believes the north and north-east aspects of the low-rise Pemberton on the Park apartments is another drawcard. Prospective buyers will appreciate the well-planned apartments, majority of which have two car spaces, and the fact there are communal areas where residents can connect with their neighbours.
“Most of the apartments are north-east facing and are soaked in natural light. All units are very well appointed with European appliances and the open-plan layout suits the way we live today. The fact the apartments are low-rise, low-density is also a big thing as you can get to know your neighbours, so it feels more like a community,” says Dowling.
“There is no dead space in the apartments. If you have a one-bedroom apartment that is 60 square metres you will find that all of the space is useful. There are no big hallways taking up valuable living area.”
The apartments sport oversized balconies that create bright, airy, open-spaced living areas.
Dowling believes Pemberton on the Park, which was designed by Krikis Tayler Architects, will help transform Botany from a commercial hub to a more traditional neighbourhood as amenities such as restaurants, cafes, parks and cycleways add to the existing infrastructure, which includes everything from aquatic centres to a train station (Mascot).
Botany is set to gain a new public park as part of the development, which Sydney property developer Jean Nassif, of Toplace, nominates as an asset for residents of the local community.
Nassif says he worked closely with the local council to transform 3500 square metres of land acquired for the Pemberton on the Park development into public parkland.
“Part of the Toplace philosophy is we like to give back to the community. The park will be on the front doorstep for residents of Pemberton on the Park. But it will also be open to the public and feature cycling paths and a through-side link from Pemberton to Wilson St,” says Nassif, whose firm has constructed thousands of apartments across Sydney over the past two decades.
“Toplace is about providing lifestyle amenity for the residents of our developments, and the park attached to the new low-rise apartment dwelling will be there for future generations to enjoy.”
With a demand for apartments in the area, Pemberton on the Park offers an affordable option for Eastern Suburb first home buyers.
What’s in store for future residents
Nassif says Pemberton on the Park’s additional selling points include the generous size of the apartments, the inclusion of upmarket European appliances, granite benchtops, oversized balconies and full-height glass doors. Open-plan living areas spill out onto balconies that overlook the park or internal landscaped courtyard.
Nassif agrees the location of the Pemberton on the Park project presents many great opportunities for both investors and owner-occupiers. In addition to offering first-home buyers the most affordable apartments in the Eastern Suburbs, Pemberton on the Park is near to beautiful beaches and is at the centre of a hub (between the airport and Port Botany) regarded as the gateway to Sydney and the commercial operational centre of NSW.
“I have personally kept one of these apartments as an investment because there is a lot of potential for uplift,” Nassif adds. “There’s a shortage of apartments in this area and demand definitely outstrips supply in Botany.”
Nassif believes the suburb has become a desirable place to live because of its central location. With Sydney’s south-eastern suburbs being rapidly transformed, he identified this parcel of land as being in prime position, providing buyers with a great lifestyle.
“Toplace is about building high-quality communities. I chose Botany because of the incredible demand from first-home buyers and downsizers. Toplace is a family-established business since 1992 and we are very proud of Pemberton on the Park.”
More Top Stories
What new off-the-plan laws mean for buyers
New laws governing the purchase of off-the-plan apartments will provide greater consumer protections for buyers and increase the onus on sellers and developers to be more transparent in their dealings. These new laws, which came into effect in NSW earlier this month, and other disclosure obligations, are a win for the property industry and a …
Ritzy Rosebery unit blocks have rooftops and retail.
Marissa Gordon Realestate.com The latest wave of apartments to hit one Sydney suburb form part of a $720 million estate, which has a central piazza and is getting a landscaped 3500 sqm park. While home seekers tend to focus their attention on price points, there is a growing emphasis on lifestyle and location when …
Are apartments a bargain buy?
As house prices rise to record levels on the back of Australia’s COVID recovery, some home hunters are eyeing off apartments as a bargain buy. House price rises have been outpacing unit price rises, as the gap between the two widens. However experts say the discrepancy won’t last. According to respected real estate data provider …