Probuild reaches a milestone today on the Promenade Parramatta project with the topping out of Stage 1, comprising of three apartment buildings being developed by Starryland Australia.

Ideally located alongside the Parramatta River and close to transport, entertainment and shopping precincts, Promenade Parramatta is part of a building boom in Australia’s fifth largest city.

When complete, the first stage of Promenade Parramatta will comprise 277 apartments in four buildings with 400+ car parking spaces. Ultimately, the three-stage development will comprise 774 apartments, with 1.2 hectares of landscaped foreshore open space.

Starryland Executive Director Hao Liu said, “Today we’re celebrating the topping out of the first stage of the Promenade development – a milestone for this development and also for Starryland with Promenade being our first development in Australia.”

“This is the first stage of a three stage project for Starryland, and we are so excited to be a part of the renewal of Parramatta which is fast becoming Sydney’s dual CBD.”

Promenade Parramatta is also Probuild’s first project in the city, continuing the company’s already significant investment in NSW.

Probuild NSW managing director Arthur Williams says, “Parramatta is a huge opportunity for us. It’s a city that is well suited to medium to high density housing, has a large number of younger workers and is close to all forms of transport.”

“We’ll continue to pursue projects in this rapidly developing city,” Mr Williams said.

Probuild is delivering land improvements for Starryland, including an extended boardwalk on the river edge for the community to enjoy.

Mr Williams says that this type of developer/builder collaboration for the benefit of community is what makes these projects so worthwhile.

“It’s not just about the building, but how that building fits within its surroundings.

“Of course, having a great relationship with our client, Starryland, means that these community benefits can be realised,” he said.

The wait is over, following the appointment of Probuild as the builders for Promenade in Parramatta, construction has commenced on Stage 1 of Promenade with completion expected in mid-2016. All foundation works have now been completed, with cranes and cement mixing trucks busy on the site the builders are currently pouring concrete on the 1^st floor slab.

Starryland appointed the multi-award winning builder, Probuild who are an established construction company with huge experience and a reputation for building high quality developments. Probuild have grown to become one of Australia’s largest and most successful construction companies. With more than 1,100 employees they are a national company with significant ongoing projects in Western Australia, Victoria, Queensland and New South Wales

“We are thrilled with the appointment of Probuild and look forward to working with them on this exciting project. They are a well-established company with a huge number of successes behind them, demonstrating their ability and experience in the building industry,” said Hao Liu, Director of Starryland.

“With the commencement of construction we are now able to envisage what a significant impact Promenade will have in creating a vibrant new riverside precinct for the city.  It also represents a significant vote of confidence in Parramatta and Western Sydney by a leading Chinese real estate company.”

Promenade is located in Morton Street, Parramatta and will eventually comprise 774 apartments across 11 buildings, ranging from three to 12 storeys.  Occupying a five-hectare site in Morton Street, Parramatta, there will also be 1.2-hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.

Promenade is being developed by Starryland Australia, the local arm of the publicly-listed Chinese real estate company, Fuxing Huiyu Real Estate Company Ltd, which is one of China’s largest developers and develops more than one million square metres of property per year in China. The Promenade project is its first foray into the Sydney market.

“Promenade has met with outstanding sales success, with the majority of the 124 apartments in the first release in May 2014 selling in just hours.” Said Ged Rockliff, Head of Savills Residential Projects. The third building in Stage 1 of Promenade was released in August 2014, comprising of 153 apartments, and 115 apartments were sold on the launch weekend.

“Promenade is a landmark development for Western Sydney and has established our developer credentials in Australia,” said James Swete, the Sales and Marketing Director for Starryland Australia. “The resort-style living at Promenade will offer an active outdoors lifestyle in a beautiful location on the riverbank that is well connected to the Parramatta CBD and in close proximity to quality schools, universities and hospitals.”

Shaoqun Tan, the chairman of Fuxing Huiyu Real Estate, says the Chinese government has actively encouraged big real estate companies to expand overseas so that they can keep growing without overheating the local market.

Under the banner Starryland, Tan’s group, which is based in the Chinese province of Hubei, west of Shanghai, entered the Sydney market this year and is developing the $550m Promenade Parramatta apartment project.

The apartments range from $399,000 to $900,000, with real estate firm Savills handling the sales campaign.

Tan says Australia is the first country in which his company has expanded. “We were drawn to (Australia) by its strong residential real estate market, stunning natural environment and good long-term economic growth prospects.”

Fuxing Huiyu was established in 2001 as the property arm of manufacturing company Hubei Fuxing Science and Technology. “I foresaw the strong future of this industry with China experiencing a large demand for urbanisation as millions of citizens were trying to increase their living standards,” says Tan. “It is certainly evident 13 years later that my career strategy was correct and my property predictions were accurate.”

He says he is “motivated by constant progress”. “I get the most satisfaction implementing outside-the-box ideas that ultimately end up proving their value. I like to be constantly challenged.”

Shaoqun Tan, the chairman of Fuxing Huiyu Real Estate, says the Chinese government has actively encouraged big real estate companies to expand overseas so that they can keep growing without overheating the local market. Under the banner Starryland, Tan’s group, which is based in the Chinese province of Hubei, west of Shanghai, entered the Sydney market this year and is developing the $550m Promenade Parramatta apartment project. The apartments range from $399,000 to $900,000, with real estate firm Savills handling the sales campaign. Tan says Australia is the first country in which his company has expanded. “We were drawn to (Australia) by its strong residential real estate market, stunning natural environment and good long-term economic growth prospects.”

Fuxing Huiyu was established in 2001 as the property arm of manufacturing company Hubei Fuxing Science and Technology. “I foresaw the strong future of this industry with China experiencing a large demand for urbanisation as millions of citizens were trying to increase their living standards,” says Tan. “It is certainly evident 13 years later that my career strategy was correct and my property predictions were accurate.” He says he is “motivated by constant progress”. “I get the most satisfaction implementing outside-the-box ideas that ultimately end up proving their value. I like to be constantly challenged.”

Starryland Australia has released the third building in its Promenade residential development in Parramatta, rated ‘Sydney’s most liveable city’ by the Urban Development Insti-tute. The new 12-storey building will contain 153 apartments on the northern bank of the Parramatta River, just minutes from the Parramatta city centre.

It is expected to attract the same level of excitement as did Promenade’s first two buildings (124 apartments) which sold out on the launch weekend in May 2014, with the majority of apartments selling in just hours. Both of these buildings are now under construction with completion in late 2016.

Savills Residential is expecting great interest from both owner occupiers and investors, with sales to date evenly split between the two. Irene Lau, a Director of Savills Residential Projects, said “There were a lot of young couples making their first property purchase, knowing that this development will provide a healthy lifestyle in which to raise their family, close to quality schools, universities and hospitals. For business people the close proximity to transport, dining, shopping and recreational facilities were influencing factors”.

Apartments in Building Three will feature high ceilings and generous balconies or courtyards with glass balustrades to maximise views of the river and the Parramatta CBD. Kitchens feature a stone island bench with fully-integrated Bosch gas appliances.

The high level of finishes include accents of bronze or copper mirrors throughout the bathrooms and kitchens and circular mosaic tiles in the bathroom.

On completion, Promenade will have 1.2 hectares of landscaped foreshore open space, a pedestrian bridge across the river, an extensive walking and cycling network, and an end value of approximately AUD $550 Million (USD $509 million).

Apartments in Building Three comprise:

• (6) one-bedrooms (44.2 – 49.4 sqm) from AUD $440,000 (USD $407,400)
• (17) one-bedrooms plus study (46.7 – 69.9 sqm) from AUD $465,000 (USD $430,542)
• (125) two-bedrooms (63.1 – 98.8 sqm) from AUD $585,000, (USD $541,649) and
• (5) three-bedrooms (83.8 – 112.4 sqm) from AUD $850,000 (USD $786,975)

The apartments have one or two security car spaces, while there are 70 visitor parking spots allocated for the development.

Parramatta Lord Mayor Cr John Chedid said, “Promenade is an exciting development and a welcome addition to our expanding skyline, bringing more residents into our thriving CBD and modernising the riverfront.”

Starryland Australia is a local division of the publicly-listed Fuxing Huiyu Real Estate Company Ltd, which develops more than one million square metres of property per year in China. The Promenade project is its first foray into Sydney.

“The resort-style living at promenade will offer an active outdoors lifestyle in a beautiful location that is well connected to the Parramatta CBD,” said James Swete, the Sales and Marketing Director for Starryland 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.

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.

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 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.

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.