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Milsons Point Aqualuna development cracks $100 million

Milsons Point Aqualuna development cracks $100 million

Isabella Arena

More than 80 per cent of the apartments available at Aqualuna have sold in just six weeks, with total gross sales to date exceeding $100 million.

The nine-storey Zone Q development at 30 Alfred St in Milsons Point consists of 63 apartments that showcase a unique curved design by Koichi Takada Architects.

Zone Q Investments marketing manager Danielle Baker said the high sales signify the current demand for Milsons Point property. "Milsons Point is such a tightly held precinct at the moment which means transformative projects like Aqualuna are rare," she said.

"Our purchasers are taking advantage of the fact they can stay in this iconic region of Sydney."

Due to such high buyer demand, the release of The Collection, the top level of the development that consists of four penthouses, was also brought forward, Ms Baker continued.

Colliers International director of residential project marketing Selda MacDonald said the development has attracted a range of buyers, with the majority of interest coming from locals.

"Aqualuna has proven very popular with domestic buyers, with less than a handful of offshore buyers from the Chinese market," she said

"The majority of buyers are owner-occupiers, particularly downsizers from the lower north shore who are looking to simplify their lifestyle."

Ms MacDonald said she expects the high sales to continue.

"After only six weeks on the market purchasers have snapped up 80 per cent off the plan," she said.

"There is still a very strong market and a real hunger for boutique sized developments in exclusive harbourfront locations."

Remaining apartments include two and three bedroom apartments priced from $1.1 million, and penthouses from $6 million to mid-$7 million.

The project is scheduled for completion in December 2018.

 

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