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Starryland sells another 124 apartments off the plan in $550m Promenade towers

News Local  | By Lisa Herbertson

With stars in his eyes, Starryland Australia director Hao Liu is confident his newly launched $550 million residential development Promenade will put Parramatta on the map.

And his confidence isn’t misplaced — the first stage of Promenade has sold out with another 124 apartments sold off the plan on the weekend. A further 153 go on sale in June.

When he’s finished, Mr Liu’s vision is to have 774 high-end apartments 1.2km east of the city centre in Morton St.

The 5ha estate on the northern bank of the Parramatta River is set to comprise 11 towers, ranging from two to 12 storeys.

“We selected Parramatta because it is already a cosmopolitan centre with the potential to become even better,” Mr Liu said.

“It has all the facilities of a modern city and is well served by public transport and motorways.”

An artist’s impression of the Promenade development. Source: Supplied

Mr Liu said the new development was designed more than just a place to live, but as a lifestyle.

Related: $8billion boom as Paramatta reaches for the sky

Starryland’s plans include a 1.2ha area of landscaped foreshore open space, a pedestrian bridge across the river, and an extensive walking and cycling network.

“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 Liu said.

The apartments feature modern designer kitchens. Source: Supplied

A spacious bathroom with clean lines and modern fittings. Source: Supplied

Selling agents, Savills Residential Projects, said prices ranged from $399,000 for a one-bedroom unit to more than $900,000 for a three-bedroom apartment.

Savills Residential Projects project director Irene Lau said buyers were split 50-50 between investors and owner-occupiers.

“There were a lot of young couples making their first property purchase, knowing that this development will provide a healthy lifestyle to raise their family,” she said.

“For business people the handy transport, dining, shopping and recreational facilities were influencing factors.”

Parramatta is on the move, with new development changing the face of the city. Source: Supplied

Open space and the Parramatta River appeal to families looking for quality of life. Source: Supplied

Mr Liu said the Promenade would offer a lifestyle that appealed to all buyers.

“The abundance of green open space will create a calming ambience and encourage residents to get out and walk, meet their neighbours, participate in community life and take joy in their surroundings,” he said.

“It’s essentially a healthy, active outdoor lifestyle coupled with affordability in a quiet, beautiful location that is still connected to the Parramatta CBD.”

Parramatta’s parks help facilitate an active outdoor lifestyle for its residents. Source: Supplied

The first two buildings entirely sold out at Promenade to buyers who had registered their interest with a $3000 refundable deposit.

The next release of apartment sales is scheduled for June, when a further 153 apartments go on on the market in the planned tower three.

Work on the first stage is scheduled to start by late June and be completed within two years.


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