Residential project in Sydney launching here

Property buyers here can add one more option to their list: residential units in the heart of Sydney offered by a local developer.

The Mark, a 412-unit project in Chippendale, on the southern edge of the city's central business district, will be launched here this weekend. It will also be launched at the same time in Sydney.

The Mark is among several residential projects at Central Park, said to be the single-largest mixed-use development in downtown Sydney.

It is being jointly developed by Frasers Property Australia, the Australian arm of local developer Frasers Centrepoint, and Sekisui House Australia, a Japanese firm.

Interest from buyers here has prompted the developers to launch the project in Singapore. Interested buyers have inquired about The Mark at launches of local properties here.

The Australian property market never really collapsed; for all the while it has been pretty steady. Although demand is not as strong as in Singapore, it's quite stable.

Frasers Property Australia chief executive Guy Pahor said there was a shortage of student housing in the area, which hosts three major universities. That could make The Mark a sound investment.

Mixed-use developments in the city are also becoming more popular, he said.

The Mark, which will have access to facilities such as a swimming pool, is set to be completed in early 2014. Homes for sale range from one-bedroom to three-bedroom apartments. Dual-key units are also available.

The Mark is priced from A$480,000 (S$625,000) upwards, or an average price of about A$1,005 per sq ft.

Source: The Straits Times – 16 May 2012