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Starryland News

The eight Chinese property developers to watch emerging across Australia

Chinese developers are making their presence increasingly felt in Australia and it doesn’t seem that they’re set to slow down.

While Sydney and Melbourne has typically been a popular spot for Chinese apartment developers, it appears that larger companies are looking far and wide across Australia’s market for opportunities.

Starryland Australia

Fuxing Huiyu Real Estate Co Ltd, the 23rd largest publicly-listed company in China, is making waves. Their first Australian foray has been the much-publicised $550 million spend across 11 apartment towers in Sydney’s Parramatta through newly created Starryland Australia. Promenade Parramatta, their creation, saw the land for the development bought in September last year by Starryland after their June 2013 formation. They are, however, Melbourne-based.

Starryland secure further Promenade, Parramatta apartment sales

Further sales were secured in the Parramatta apartment project Promenade through Savills Residential Projects.

It has sold 115 of the 153 apartments in building three at Promenade, a five hectare site which is being developed by Starryland Australia, the local arm of the giant Chinese property group, Fuxing Huiyu Real Estate Company Ltd.

Prices ranged from $440,000, for a one-bedroom apartment.

The apartments in building three comprised:

  • (6) one-bedrooms (44 – 49 square metres) from $440,000
  • (17) one-bedrooms plus study (46 – 69 square metre) from $465,000
  • (125) two-bedrooms (63 – 98 square metres) from $585,000, and
  • (5) three-bedrooms (83 – 112 square metres) from $850,000

Fewer than 40 apartments remain for sale.

Buyers, who registered their interest with a $3,000 refundable deposit, were invited to attend the launch last Saturday morning.

Irene Lau, from Savills Residential Projects, said more than 70% of purchasers were owner-occupiers.

Promenade‘s initial two buildings of 124 apartments sold out over one weekend in May. Both buildings are currently under construction with completion in late 2016.

Located in Morton Street just 1.2 kilometres east of the city centre, Promenade will have 1.2 hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.

James Swete, the sales and marketing director of Starryland Australia, said Promenade would provide resort-style living.

Starryland secure further Promenade, Parramatta apartment sales

sales were secured in the Parramatta apartment project Promenade through Savills Residential Projects.

It has sold 115 of the 153 apartments in building three at Promenade, a five hectare site which is being developed by Starryland Australia, the local arm of the giant Chinese property group, Fuxing Huiyu Real Estate Company Ltd.

Prices ranged from $440,000, for a one-bedroom apartment.

The apartments in building three comprised:

  • (6)  one-bedrooms (44 – 49 square metres) from $440,000
  • (17) one-bedrooms plus study (46 – 69 square metre) from $465,000
  • (125) two-bedrooms (63 – 98 square metres) from $585,000, and
  • (5) three-bedrooms (83 – 112 square metres) from $850,000

Fewer than 40 apartments remain for sale.

Buyers, who registered their interest with a $3,000 refundable deposit, were invited to attend the launch last Saturday morning.

Irene Lau, from Savills Residential Projects, said more than 70% of purchasers were owner-occupiers.

Promenade‘s initial two buildings of 124 apartments sold out over one weekend in May.

Both buildings are currently under construction with completion in late 2016.

Located in Morton Street just 1.2 kilometres east of the city centre, Promenade will have 1.2 hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.

James Swete, the sales and marketing director of Starryland Australia, said Promenade would provide resort-style living.

Starryland’s Promenade Near Sell-Out Opening

Starryland Australia’s Promenade development in Parramatta, received strong sales as the third building was released over the weekend.

Savills Residential Projects sold 115 of the 153 apartments in Building Three at Promenade which is being developed by Starryland Australia, the local arm of the giant Chinese property Group, Fuxing Huiyu Real Estate Company Ltd.

The strong demand mirrored that of Promenade’s initial two buildings, comprising 124 apartments, which sold out over one weekend in May.

More than 70 per cent of the buyers were owner-occupiers.

Prices ranged from $440,000 for a one-bedroom apartment to $995,000 for a three-bedroom apartment.

Parramatta accommodates 30 per cent of Australia’s top 500 businesses, triggering $8 billion worth of commercial and residential development in coming years.

“Promenade is in keeping with the style of residential communities we create in China, and we want it to set a benchmark to establish our credentials in Sydney as a quality developer,” Mr Hao Liu, the Director of Starryland Australia.

Designed by architect William Smart of Smart Design Studio, with 1.2 hectares of landscaped frontage, Promenade is set to create a new face for the riverfront.

“It will bring more residents into our thriving CBD and further modernise our riverfront,” said Parramatta Lord Mayor Cr John Chedid.

The initial two buildings of Promenade are currently under construction.

Off-the-plan Parramatta apartments will go on sale tomorrow and are expected to sell fast

More than 100 waterfront apartments in Parramatta are set to go off tomorrow when they hit the market.

The 12-storey building three of the suburb’s latest residential development, Promenade by Starryland Australia, comprises of 153 apartments in a range of sizes and styles that will all go on sale in the morning.

First look at the new off-the-plan building three apartments of Promenade in Parramatta. Source: Supplied

The development’s initial release, back in May, saw all 124 apartments from buildings one and two combined sold over the launch weekend, with most secured in less than four hours.

Director of Starryland, Hao Liu, said the luxury units were aimed at local residents, as opposed to other off-the-plan sales in the area, which have proved popular with investors.

An artist’s impression of building three of Promenade shows a sleek, modern design. Source: Supplied

“Sales records from the first two buildings showed they were majorly purchased by local buyers. Investors came in at around 30 per cent and the rest were owner-occupiers,” Mr Liu said.

“This release is offering similar price ranges and we are expecting to sell more than 80 per cent to owner occupiers this time,” he said.

Prices for a one-bedroom apartment (44.2 – 49.4 sqm) start from $440,000 and at the higher end, three-bedroom (83.8 – 112.4 sqm) apartments have an asking price of more than $850,000. Potential buyers are now able to get an idea of what the development and apartments will look like.Source: Supplied

“The prices are kind of at entry-level so it is easy to invest and is also suitable for first-home buyers,” Mr Liu explained.

The new building will be set at the northern bank of Parramatta River and will offer water views when completed. Each apartment will come with luxury inclusions, showcasing a contemporary design.

James Swete, sales and marketing director of Starryland, said purchasers were buying into a lifestyle.

The kitchen in the display suite shows stone benchtops, gas appliances and a modern layout.Source: Supplied

“It is resort-style living in a prime waterfront location. A lot of people also like being close to schools, the University of Western Sydney and good transport links,” Mr Swete said.

He said the five hectare development, just over 1 kilometre east of Parramatta CBD, would promote an active lifestyle with its 1.2 hectares of landscaped open green space, a pedestrian bridge across the river and walking and cycling tracks.

Walls of glass windows, balconies and courtyards will provide easy views of the river and CBD.Source: Supplied

A new display suite showing a full kitchen, bathroom and living area, has been opened for Promenade.

At 1/28 Macquarie Street, Parramatta, potential buyers can see the high quality of interiors which will be used in the apartments.

The $550 million development is already under construction. Buildings one and two are due for completion at the end of 2016.

What you can buy

  • (6) one-bedrooms (44.2 – 49.4 sqm) from $440,000
  • (17) one-bedrooms plus study (46.7 – 69.9 sqm) from $465,000
  • (125) two-bedrooms (63.1 – 98.8 sqm) from $585,000, and
  • (5) three-bedrooms (83.8 – 112.4 sqm) from $850,000

Apartments in building three will feature high ceilings, spacious balconies or courtyards with glass balustrading, a stone island bench and Bosch gas appliances in the kitchen, and bronze or copper mirror accents throughout the unit. They each come with one or two secure parking spots.