Advertising tycoon John ‘Singo’ Singleton has done it again, setting a new benchmark for Central Coast apartment sales with the $2.7 million off-the-plan sale of one of three penthouses in his latest luxury residential development, Ravello at Point Frederick.
Snapped up by a local downsizer, the penthouse, which takes pride of place on Ravello’s upper storey, is dominated by views of the water from virtually every room.
The sale comes not long after Singo set a record for the sale of a $1.6 million penthouse at his Bonython Tower development in Gosford.
Sales at the official display suite opening of Ravello last month reached an eye watering grand total of just over 18 million, with 40 percent of the forty-five apartments being snapped up on the day, mostly by local downsizers.
With apartments specifically targeted towards this lucrative market, it is not hard to understand why cashed up downsizers are loving this development.
Designed by high-end Central Coast architecture firm, White + Dickson, each Ravello apartment is ‘house-like’ in design, making them unlike anything offered on the Central Coast before.
Standout features of the seven level apartment complex include a hotel style lobby and cobblestoned promenade, never-to-be-built-out water views from almost every room, temperature controlled walk-in wine cellar, butlers pantry and a mind-blowing automated parking system that uses laser-supported vehicle detection technology – the first of its kind in NSW.
Selling agent Jaimie Woodcock of McGrath Central Coast said that to achieve such a solid result for the penthouse, at a time when buyers are seeking greater value for money, is a testament to the quality of the building.
“It tells us that this market really loves what is being presented and that there is a genuine desire on the Central Coast, particularly among this discerning group of buyers, for luxury highly specified homes,” he said.
The Central Coast has recently been listed on the national RLB Crane Index for the first time, with eighteen cranes, sixteen of those in Gosford. This puts the region ahead of Adelaide, Hobart, Newcastle and the Sunshine Coast.
The listing signals growth and revitalisation unlike the region has ever seen before and is largely the result of privately funded investors like Singo and millionaire used car salesman turned developer, Tony Denny of Central Real. The gathering momentum in the region is generating plenty of interest from Sydneysiders seeking a coastal lifestyle that is within reach of the CBD.
Construction of Ravello Bonython will commence shortly and is scheduled for completion by the end of 2020. To inquire about the remaining penthouses or one, two and three-bedroom apartments, contact McGrath Projects on 1300 271420.