JUNE 29, 2017
YOUR INDEPENDENT COMMUNITY NEWSPAPER
15-storey Merindah tower has enough sales to proceed
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he first stage of off-the-plan sales in the Merindah Apartments project at 21 to 23 Mann St, Gosford, has closed, and the developer is still aiming to have the building ready for occupancy by the first half of 2019. The $34m residential flat building that will tuck in behind the heritage-listed Telstra building, is the largest single tower to ever go to market in Gosford, and at 15 storeys, is the largest development in terms of height that Gosford has seen to date. Mr Pablo Gutierrez from George Brand Terrigal, who was the agent responsible for off-the-plan sales, said: “We have sold the quota of apartments that was a necessary requirement for the loan for the project to commence.” The DA consent for Merindah expires on September 22, but Mr Gutierrez said he was confident construction would start within that period, or the developer would be successful in securing a 12-month extension from Central Coast Council. “We would have already started construction but the developer is just finishing a large building project in Dee Why and it is a little behind schedule,” he said. In response to rumours that the development was not going ahead, he said: “I’ve heard that rumour, but I can unequivocally assure you that we are on track. “I am not sure where that rumour started but I have my
suspicions,” he said. The Pinnacle Construction Group will be the lead builder on the project and Mr Gutierrez said the crane that will be utilised “is massive”. He said off-the-plan sales had been deliberately kept to a minimum. “As the building gets off the ground, the remaining units will increase in value. “The developer wants to keep as many as possible because the closer to completion, the higher their market value. “The developer has several letters of offer from finance providers to finance the project, but the developer is looking for a lower rate so another 10 units may be made available off the plan.” According to Mr Gutierrez, every Gosford development that has had a significant marketing launch (more than $150,000) has been wellreceived by the market and there is plenty of demand to fill all residential space coming on stream. The off-the-plan sales generated for Merindah were an even split between Sydney buyers and locals, and between owner-occupiers and investors, he said. Baby boomers wanting to downsize are the main buyers of higher-end waterfront properties in Gosford at the moment, while lower-priced properties appeal to Sydney buyers, including investors and first-home buyers, Mr Gutierrez said. Source: Interview, Jun 26 Pablo Guitierrez, George Brand Terrigal Jackie Pearson, journalist
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PH: 4325 7369
ISSUE 161
21-storey Ikon Tower being offered for sale off the plan
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partments in the $34.24 million, 21-storey Ikon Tower residential and commercial development at 333 Mann St, Gosford, are being offered for sale off the plan. According to Ray White Commercial NSW, the building, boasting 102 apartments and 500 square metres of commercial space, is being developed by JMGM & GWPG. Mr Jeff Moxham, from Ray White, said the landmark mixed-use project was the latest tower being constructed in a range of new developments set to transform Gosford’s skyline into a modern metropolis. “These projects are revolutionising Gosford and delivering a world class city centre,” Mr Moxham said. “333 Mann St was approved by the Joint Regional Planning Panel in late 2016 and will boast 102 apartments in a mix of one, two and three-bedroom floor-plate designs, with 500 square metres of commercial retail below. “Mann St is already a hive of activity with John Singleton’s first high-rise project, Bonython Tower, being developed on the Dutton’s Tavern site. “JMGM is also proposing a 24-storey tower with 189 residential apartments and 2500 square metres of commercial-zoned retail at 325 Mann St.” The $368 million upgrade of Gosford Hospital is directly opposite the new developments at 325 and 333 Mann St. Ray White Commercial NSW is seeking interest from local, national and international
buyers. “Currently, Gosford is experiencing strong pre-sales for residential units being sold off the plan, which is beneficial for both developers and buyers seeking good value in the market for new units,” he said. JMGM currently has more than $120 million in developments in progress, with a focus on high-quality residential and mixeduse developments across Sydney and along the eastern seaboard. The Ikon at 333 Mann St will comprise a single tower over a podium base that will include four levels of parking integrated into the fabric of the podium with one level partly underground, three levels of commercial tenancies, 17 levels of one, two and three bedroom residential apartments and landscaping. The development was approved and achieved delayed commencement within the timeframe that enabled the developer to take advantage of the former Gosford Council’s 30 per cent bonus height and floor space controls. As a result, the Gosford Local Environment Plan allowed for a maximum height of 78 metres and a floor space ratio of 6.5:1. The proposed four-tofive-storey podium will accommodate four commercial tenancies with a floor area of 500 square metres that could accommodate various café and office premises. Within the tower, 15 of the one-bedroom units will be adaptable for people in wheelchairs or other special users. Each apartment will have direct access to a balcony or terrace with an area between eight and 12 square metres and residents will have access
An artist's impression of the Ikon tower
to landscaped communal open space at the level three podium and on the rooftop. When the JRPP determined in favour of the development in December, 2016, it noted the corner location, site proportions, surrounding infrastructure, nature of adjoining development and proposed design measures resulted in a development that
suited the site. The consent was for two years from December 15, 2016. Source: Media release, Jun 22 Steve Connolly, Converse Communications Website, Jun 26 Central Coast Council Gosford DA tracker, 49489/2016 Jackie Pearson, journalist
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