FOR Edward and Richard Fader, turning their family shack into four state-of-the-art waterside apartments is far more than just a property development opportunity.
The Fader family has links to Cremorne on Hobart’s Easter Shore dating back to when the area was subdivided over 70 years ago.
Richard Fader said his mum’s family has owned two blocks on the waterfront, and his grandfather’s brothers also each owned a place on the waterfront.
“We have been going there since we were kids, we would spend all of summer at Cremorne,” he said.
The Fader brothers’ project, The Frederick Residences, hit the market last week with the three-bedroom homes on the dunes catching the eye of buyers far and wide.
Knight Frank property representative Tom Triffitt said the reaction since the dwellings launched had been “mind-blowing”.
Mr Triffitt said locals, international buyers form Asia and Europe and interstate buyers had inquired about the properties.
“The value of buying on Cremorne Beach compared to say Portsea Beach on the Mornington Peninsula may see The Frederick Residences being highly appealing to Melbourne buyers,” he said.
Each of the dwellings, designed by architectural firm DW+A, will be a bold statement in luxurious waterside living.
The 400sqm apartments will offer three bedrooms, two bathrooms, a lift, secure basement parking, 40,000 litre water tanks, walk-in dressing rooms, large light wells, and huge water views.
DW+A director Xavier Wakefield said The Frederick Residences had been designed to channel the spirit of its beachfront position and to “enhance the experience of living in such an idyllic part of Tasmania”.
Mr Fader said: “Some of the things we learnt having lived down there — like when the sea breeze is going to be blowing and offering people a choice of outdoor spaces — have been brought into the design of these residences.”
Mr Fader said the aim was start construction early next year.
He expects it will take around 18 months to complete.
The homes at 36-38 Frederick Henry Pde will be sold by expressions of interest closing mid-November.