Property Development

First Central Real project Marina at Point Frederick revealed to buyers

Written by The ReReport
As seen in the Source link, written by on 2019-02-06 09:31:11

Marina Buyers

Karin and Allen House at their new Marina apartment. Picture: Troy Snook.

Central Real’s first completed apartment block development, Marina at Point Frederick, has left buyers “speechless” during pre-settlement inspections.

The first of six projects for the Tony Denny-helmed company is located at 7-9 Lynn St and contains 29 individual apartments, each with their own style, colour scheme and layout.

Central Real’s CEO Richard Ellis said that some buyers did not even realise their apartment had come with a view.



Bath tub of dreams at the Marina apartments.

“Tony loves it — he actually said that we sold the apartments too cheap,” he said.

“But it’s good for the buyers — they’re the best advocates and we plan on being here for a long time. So whatever they’re saying, if it’s good, that is great for us,” he said.

Selling agent Jaimie Woodcock from McGrath Terrigal said that coast investors had made the right choice buying into off-the-plan developments.


Marina Buyers

The Marina luxury apartment complex at Point Frederick. Picture: Troy Snook.

“There is a lot of negativity around apartment sales in capital cities, but we’re not seeing any of that on the Central Coast because we don’t have an oversupply like Sydney. Development just isn’t rampant enough.”

Mr Woodcock said apartment values had increased over the two and a half years since the launch of Marina.

“We had one of the apartments re-sold during construction and the buyer, who had purchased an apartment for $730,000 sold about five months ago for $830,000. This is part of the reason why savvy buyers love buying off-the-plan in good areas — values can increase significantly.”

View from the Marina penthouse.

Bruce Watkins, a Marina buyer from Sydney said he couldn’t wait to move into his level five apartment with his partner, and said “it’s bloody amazing — we are almost speechless.”

Mr Watkins loved the Brisbane Water views, pebbling running around the edges of the balcony, under lights in the bathroom and plush carpeting.

Local purchaser Karin House and her husband Allan bought the level four sub penthouse apartment, which was the most expensive sale in the building at $1.533 million.

Marina Buyers

Karin and Allen House are downsizing to a Marina apartment. Picture: Troy Snook.

With 128sqm of space internally and 127sqm externally, the layout of the apartment was the most desirable, with the lounge room wrapping around the whole front of the building.

“This is exactly what we wanted – no stairs, low maintenance with amazing views,” Mrs House said.

“We are downsizing from a big Avoca property, which has been lovely with the grandkids, but we can still do it here – there is so much space.”

Mr Ellis said that Central Real’s plan to build up the Coast was not slowing any time soon, with three new projects launching this year.

He exclusively revealed to the Express Advocate that Denny’s latest Point Frederick development, Peninsula, had some grand plans in the works, with aims for ultra-luxury penthouses, a step up from John Singleton’s latest development, Ravello.

“I’m talking a communal pool, internal gym and we’re hoping to do the penthouses with their own lap pools and six carspaces,” he said.