SYDNEY, 25 MAY 2021
Research from Urbis1 shows Macquarie Park is among the most affordable apartment markets on the new Metro line and no community is better placed than Midtown MacPark, the next great Sydney neighbourhood by Frasers Property Australia, to reap the benefits of the convenience and accessibility of this growth area.
Among suburbs along the Metro line, Urbis research highlights two-bedroom apartments in Macquarie Park are comparatively more affordable than in North Sydney, Crows Nest and Chatswood, and about the same as two-bedders in North Ryde.
The Urbis analysis of off-the-plan advertised sales and recent re-sales of recently completed apartments found that two-bedroom apartments in Macquarie Park ranged from $825,000 to $1,350,000 with a median of $1,087,500. This compares to $1,175,000 to $1,795,000 for North Sydney; $1,250,000 to $1,680,000 for Crows Nest; $1,300,000 to $1,500,000 for Chatswood; and $918,000 to $1,080,000 for North Ryde.
Considering Macquarie Park is the state’s second largest commercial district, according to Urbis, and will be less than 20 minutes to Sydney CBD via the Metro once its forecasted to complete in 2024, the real picture of the value of a brand-new apartment in Macquarie Park becomes clear.
Currently available in MAC Residences at Midtown MacPark are one-bedroom apartments priced from $630,000 to $780,000 and two-bedroom apartments priced from $860,000 to $995,000 and one remaining two-storey, three-bedroom penthouse priced at $1,988,000.
Nigel Edgar, General Manager Development NSW, says the value of Midtown is not only emphasised by the quality of the homes, but also the range of amenities on offer in a location of true convenience.
“The research highlights the value proposition of Macquarie Park. Not only do apartments in the area typically come at a lower price point, residents also enjoy access to amenities unmatched in other suburbs along the new Metro line,” says Mr Edgar.
“At Midtown MacPark, the open spaces and parks complement the choice of homes on offer in a location with a Metro station, shopping centres, schools and childcare centres all within walking distance.
“Moreover, the completion of the City and Southwest Metro line which is expected in 2024 will provide residents with direct connections to stations in the Sydney CBD in under 20 minutes. Peak period trains will run every four minutes connecting residents to St Leonards and North Sydney, through to Barangaroo, Martin Place and Central,” says Mr Edgar.
Drew Johnson and his partner Warren Bell had been renting an apartment in Greenwich for over two years when they decided it was time to buy their first home together.
“We were looking in areas like North Ryde, Epping, and obviously Macquarie Park. We looked at Midtown MacPark and we really liked the development, but financially we were not in a position to do anything at that time,” says Drew.
“We met with Michelle from the sales team at Midtown and discussed whether it would be realistic for us to purchase an apartment. We worked out how much we’d have to put aside per week and it turned out it was very feasible,” says Drew.
“Initially we were looking at a one-bedroom apartment but we ended up buying a two-bedroom, two-bathroom apartment at Midtown, which suits us so much better.
“We were very surprised and excited knowing we could actually afford to do this, especially in Sydney,” he says.
The couple love the layout and modern design of the apartment, but what really drew them to Midtown MacPark was the convenient lifestyle on offer in the masterplanned community.
“Midtown MacPark has so much potential. It’s a beautiful area surrounded by all these beautiful gum trees, lovely greenery and shops. It’s like a little oasis in the middle of Sydney and we won’t have to go far at all to get everything we need,” says Warren.
“We also like the idea of having a pool and a gym on site. We love staying fit so having these facilities will be amazing.
“We feel like Midtown is a development with a real community focus. It’s like a community within a community. We look forward to moving in, attending the night markets and getting to know the people around us,” Warren says.
Frasers Property Australia is working with the NSW Government to deliver the $2.1 billion masterplanned mixed tenure community, which will integrate approximately 3,300 apartments with a range of community facilities including a proposed school and childcare, aged care, a new central park, pocket parks and playgrounds, a community centre, pool and gym, and all the amenities for modern living within walking distance, underpinned by world-class design.
It's one of the best-connected communities in Sydney, surrounded by great schools, workplaces, shopping centres and a world-class university, with easy access to arterial roads, extensive public transport options including rail and bus connections. It is just 500 metres to the Metro station.
Frasers Property is targeting a 6 Star Green Star Communities rating for Midtown MacPark and the vision is for the community to be carbon neutral in operation. The natural turpentine forest which frames the community will be preserved and the popular Shrimptons Creek will be regenerated with new running and walking loops.
The homes at Midtown MacPark are specifically designed to be healthier and more comfortable to live in, using solar energy generated on site and with energy-saving features, green roofs, shading devices and new tree plantings throughout the community. A car share service is also planned.
The Midtown MacPark sales office is now open and people can book an appointment by calling Frasers Property on 13 38 38 or by visiting . The sales centre is located at 1 Ivanhoe Place (off Herring Rd), Macquarie Park.