Award-winning Sydney developer ALAND announces the launch of a new mixed use development in Gosford.
Located close to the waterfront on a 5656sqm mixed use site at 108 Donnison Street, Gosford, Archibald will offer 323 residential apartments, 130 hotel rooms, multiple food and beverage facilities as well as a 960sqm whole floor sky bar.
With street frontages on Mann, Donnison and Baker Streets, Archibald is one of the last remaining consolidated sites in Gosford CBD.
ALAND had acquired the property in June this year with a view to improve on the original plans, which were approved in 2015 for a combined residential and hotel complex. Keeping in mind the current market and local community, ALAND has amended these plans and launched Archibald in collaboration with McGrath Projects.
The landmark project, which is named after Archibald Acheson, the second Earl of Gosford, has been planned as a luxury development featuring two buildings, which will house one-, two- and three-bedroom apartments in addition to three- and four-bedroom penthouses, all with access to resort style facilities and many with views of Brisbane Waters and the city skyline. Apartments in the development range in sizes from 58sqm to 280sqm with a 1-bedroom unit starting from $475,000.
"This is an excellent opportunity to offer an unmatched product to Gosford and add a significant new addition to the local skyline,” ALAND CEO George Tadrosse said.
“We believe we have created an exceptional contemporary design that will appeal to holidaymakers, local buyers, purchasers moving to Gosford, and investors looking to capitalise on the growth potential of this thriving community,” he added.
John McGrath, CEO of McGrath Estate Agents, said the Central Coast is poised for impressive price growth performance.
“With a perfect blend of coast and country lifestyle, combined with an easy drive to one of the biggest cities in the world, it has everything the market wants. And the growing work from home trend has made it an even more in-demand lifestyle,” he said.
McGrath expects excellent long-term prospects for the region despite the widespread price correction across many residential markets including the Central Coast. The growing trend towards sea and tree changes, coupled with work from home demands has positioned this market for a softer landing and a more rapid bounce when interest rates stabilise, he explained.
Much of the growing demand for the Central Coast comes from both big city downsizers from nearby Sydney as well as professional couples and families. McGrath added that luxury developments such as Archibald will be sought after by city slickers seeking a nearby getaway within an hour of Sydney.
“Archibald is a perfect fit for those wanting a slice of luxury within easy access from their primary residence. There’s no doubt the Central Coast is closer to Sydney than ever before with the recently opened NorthConnex shaving 20 minutes off commute times,” he said.
Jaimie Woodcock, principal of McGrath Central Coast said Archibald by ALAND is a breath of fresh air for the region.
“We've been waiting a long time for a development that has something significant to offer the area. This has the hotel offering, a significant food and beverage offering as well as a gym and pool. For buyers, Archibald goes well and truly above and beyond just purchasing an apartment, and for the general public it’s going to be a local destination for drinks with friends and dining out at restaurants,” he said.
“The price point of this project has been extremely attractive. We’ve had a lot of investors and first home buyers looking because they can buy in brand new under $750,000 with an extraordinary view and all of those added offerings, and that’s a compelling attraction to so many purchasers right now,” Woodcock said.
Archibald offers easy access to multiple public parks and is well-connected to key amenities such as Gosford Train Station, Central Coast Stadium, TAFE and the University of Newcastle’s proposed $18 million Gosford Campus upgrade on Mann Street. The project is scheduled for completion by end-2024.
