Starryland are excited to announce the recent DA Approval from the City of Parramatta Council for our gateway 5,150m2 site located at 26-38 Good Street & 59-61 Cowper Street, Granville.

The approval consent is for a 373 apartment mixed-use development with over 30,888m2 of GFA across two 25 storey towers. The project will include 1,171m2 of retail with cafes, restaurants and shops on the ground level and residents’ communal gardens with BBQ facilities and communal room on the podium.

Starryland’s Managing Director Hao Liu said “Starryland chose this development site due to its proximity to the Granville train station with good access to Parramatta CBD. Granville is considered an undervalued suburb in the Parramatta region and is predicted to one of the upcoming Sydney hotspots.”

“The project will aim to set a benchmark for quality design and finishes in Granville; and focus on providing quality affordably priced apartments targeting first home buyers and young professionals.” said James Swete, Sales & Marketing Director.

Starryland would like to thank PBD Architects, PDS Group, Think Planners, McKenzie Group, Northrop, Site Image and all our valued consultants in achieving this DA approval.

Starryland’s invited our valued Promenade No.2 residents to a post completion event on the afternoon of Saturday 26th November. It was a fantastic afternoon on the outdoor podium with over 200 residents attending to enjoy the gourmet BBQ, Pizzas, Ice Cream, Children’s Entertainer and some great Lucky Door prizes.

There were speeches from Hao Liu (Managing Director), Stephen Cox (Turner Architects) and Simon Hollows (CBRE Residential).

A special thanks to our generous sponsors including Harvey Norman Commercial, CBRE Residential Projects, Village Property, Netstrata, Bosch and Westpac.

Sydney developer Starryland has returned to the apartment market with its second project nearly five years after its popular Parramatta development Promenade sold with resounding success. The group has completed the acquisition of the 5150-square-metre site at 26-44 Good Street and 59-61 Cowper Street in Granville just south of Parramatta for $36 million and has also finished a planning proposal for the site.

The company bought the site – an amalgamation of commercial sites – from private owners in an off-market transaction. As one of the earliest developers to capitalise heavily on the early onset of the housing boom and surge of foreign investors, Starryland recorded sell-out days at its $550 million 773-unit Promenade project in 2014. Its second project in Granville will however be smaller with 374 units, featuring standard one to three-bedroom apartments.

Starryland’s decision to choose Granville as its second development site was based on the suburb’s inclusion in the Parramatta 2036 plan as a business extension of and housing support for the growing Parramatta CBD – Sydney’s second – and its reputation as being one of the most “undervalued” and underdeveloped train-supported suburbs in Sydney.Granville has one of the most affordable house prices in Sydney and is also the reason why it has been target of other developers including Shokai Ausbao and Develotek which are also building 680 “affordable” apartments around the corner from Starryland’s new site.

Starryland managing director Hao Liu said while there was growing developer competition in the suburb, the presence of multiple projects puts Granville on the housing map and paves the way for better sales.”The project will focus on providing quality affordable priced apartments targeting first home buyers and young professionals,” Mr Liu said. “We don’t want to compete in apartment-heavy suburbs with expensive units which is why we believe in the areas in Sydney’s west which need more homes.”

Starryland says it expects the Sydney residential downturn to be near the bottom and is planning to launch the project in late 2020, at a time when a shortage of homes is predicted to hit the city. The developer’s new project will include ground level shops, cafes and restaurants as well as a communal room and gardens with barbecue facilities. PBD Architects, which won the project’s Design Excellence Competition late last year, are the project’s appointed architects.

The group plans to lodge a development application for the project later this year. It is expected to span several buildings between four to 25 storeys tall but fewer than its 11-tower mini-city Promenade, three kilometres away.

Qantas Magazine Interview with James Swete, Starryland Sales & Marketing Director

What were the inspirations behind the Promenade project?
“It’s very designer-focused. We have used a natural palette and incorporated timeless finishes such as stone benchtops, mirrored splashbacks
and bronze framing that fit in well with the appliances.”

Why did you choose Bosch kitchen appliances?
“We’re promoting luxury resort-style living so we were looking for a number of things in the appliances to fit that; the first being quality – and that’s one of the main reasons we chose Bosch. Other important factors were reliability and energy efficiency, which are demonstrated in
the performance of its products. Then there’s the design; Bosch appliances have a timeless and contemporary look that works beautifully with our interiors. We used Bosch’s four-function electric wall oven, the four-burner gas cooktop and the two-speed range hood. The first stage of the development is complete and all of our purchasers have been extremely happy with their Bosch appliances.”

How much work goes into details such as selecting which appliances to use in a project like this?
“We spend a considerable amount of time making sure we get it right and that it matches what the target market is looking for. The quality of the project, as well as our quality as a developer, is reflected in the appliance brands we use.”

PROXIMITY to work opportunities was one of the factors that encouraged Cameron Trevor and partner Lauren Rountree to buy a new home in Parramatta, rather than Sydney’s eastern suburbs.

Mr Trevor, who works at an insurance office in the Parramatta CBD, said the couple purchased a one-bedroom unit in Starryland’s Promenade development because they wanted their home to be a good future investment, not just a convenient place to live.

“We were originally looking in places like Maroubra, but you get more of a sense in Parramatta that you’re in the middle of Sydney,” Mr Trevor said.

“The public transport is really good and a lot of new businesses are coming into the area. There’s a real CBD feel to it now. I think people will want to keep living here, so it will be a good place to own property.” The property’s location on the banks of the Parramatta River was another plus, he said.

“We really liked the building. It’s 12 storeys high and in a slightly quieter location.” The final stage of the Promenade project was recently released to the market. The apartments will be completed in 2018.

Chinese developer Starryland is pushing ahead with the third stage of its $525 million Promenade apartment project at Parramatta in Sydney’s west with the developer aiming to have a $2 billion workbook in Australia in the next three to five years.

The 773-apartment development on the Parramatta River is the first offshore venture for Starryland, a subsidiary of the listed Fuxing Huiyu Real Estate based in the Chinese city of Wuhan.

Starryland sales and marketing director James Swete, who was at the project on Saturday, said the group had not seen a slowdown in interest in the wake of Labor’s proposed windback to negative gearing tax breaks and the commentary around housing bubbles as the company moved to release its third tower of 298 units next month.

“The second stage was 198 apartments and we sold 100 in four hours when it was released in September (2015) and we have 15 left,” Mr Swete said. “We haven’t seen any change in sentiment.” People had become used to public debate about the direction of Australia’s housing market, he noted.

The group is looking across Sydney at sites for mixed-use residential and commercial projects with Mr Swete saying the market for sites was still competitive although vendors were more realistic as some of the heat comes out of the boom. Starryland had also been speaking to local developers with a view to partnering on projects.

Despite the surge in development in Parramatta, Starryland believes there are still good opportunities there. The group was able to sell units for $10,000 a square metre compared to sales prices of $15,000/sqm in Macquarie Park and $16,000 in St Leonards.

The third-stage units will be priced from $520,000 for a 50-59sq m flat to $920,000 for 96-114sq m, which will have three bedrooms, some with a study. The Moreton Street project, due for completion in mid-2018 and designed by architects Turner Design, will be linked to the CBD by a planned pedestrian bridge over the river, and will sit on 1.2 hectares of gardens and include an artificial beach.

We are pleased to advise that construction of Promenade is progressing well towards completion. The external works are now complete and the scaffolding is starting to be removed revealing the stunning external facade of the buildings.

Internal fit-out works are well progressed with kitchen installation and bathroom tiling complete up to the higher levels.

At this stage, we anticipate construction to be completed in late March 2016, however this is subject to change dependent upon any wet weather.

MORE than 100 apartments were snapped up within three-and-a half hours at the launch of Parramatta’s Promenade No.2 development yesterday. A total of 198 apartments made up the first release of the $314 million project located on the Parramatta River.

While the display suite doors didn’t open until 8.30am, eager buyers lined up from 6.30am, ready to snap up a one, two or three-bedroom apartment with prices starting from $518,000.

Construction worker Paul Campbell was one buyer who managed to scoop himself up a one-bedroom unit with study. The 24-year-old from Cabarita had been house hunting for more than six months. “It’s a new development, offthe-plan, so it was very appealing. You get the first homeowner’s grant and there’s no stamp duty,” Mr Campbell said.

The apartments released were among the 505 units that will make up Promenade No.2, CBRE managing director David Milton said. “People are recognising that Parramatta has potential and really good value,” he said.

Set on Parramatta River, Promenade No 2 offers luxury apartments in a convenient, waterfront setting.