Cbus Property’s Newmarket Randwick master-planned project in Sydney’s eastern suburbs has settled 98 per cent of its first stage of apartments, demonstrating the ongoing confidence in high-end residential product developed by respected developers.
Newmarket Residences, designed by award-winning national architecture firm Bates Smart, with landscaping by Arcadia Landscape Architecture, is the first stage of the boutique project and successfully settled its 118th residence last week.
Cbus Property’s Chief Executive Officer, Adrian Pozzo, said it was a tremendous result in the current market environment.
“To settle the first stage of a multi-million-dollar mixed-use masterplan with so few rescissions, is a true testament to the quality of Newmarket Randwick and the purchasers’ faith in the Cbus Property brand and product being delivered,” he said.
“We set out to develop a world-class residential community that would benefit residents and locals alike, which our purchasers have overwhelmingly recognised when committing to the final product.”
As the gateway to the exclusive Newmarket Randwick neighbourhood, Newmarket Residences comprises elegant one-, two- and three-bedroom apartments across two eight-storey buildings overlooking a vibrant retail piazza, recently opened and known as Newmarket Dining.
Mr Pozzo said that Newmarket Dining and the recent openings of Inglis Park and the former Sales Ring, which has been converted to a state-of-the-art family-friendly playground, had contributed to the positive settlement result.
“Newmarket Residences sets a new benchmark for off-the-plan purchasing, and a positive precedent for the next stage of the project, Figtree Pocket, which is on track for completion next month,” he said.
RANDWICK'S NEWEST PARK IS OPEN
Randwick’s newest landmark, Inglis Park, is now complete.
Created to be the heart of Cbus Property’s mixed-use development, Newmarket Randwick, both the park and playground take into account how residents, locals and visitors will use the outdoor space – from quiet relaxation and fitness activities, to dog-friendly areas and great places to enjoy an alfresco lunch or dinner in the future.
Featuring an extensive lawn, barbecue dining facilities, including a children’s picnic party zone, polished concrete table tops, timber benches and a pergola, Inglis Park links seamlessly to the Newmarket dining precinct.
Arcadia Landscape Architecture has nurtured and celebrated the site’s rich cultural history, encompassing the iconic Newmarket sales ring and original 130-year-old Moreton Bay fig tree in the overall design concept.
Historic sandstone, recycled brick paving and salvaged timber from the stables have been incorporated into Arcadia’s design, joining public art and interpretive elements to creatively tell the precinct's remarkable story.
“Respecting the history and reusing elements to preserve the heritage are central themes for us," Arcadia principal, Alex Longley, said.
“Elements include a timeline of pavement etchings, plaques and graphics, colourful play features and art that link to horse racing and a select group of significant horses that were sold on the site, including interactive audio recordings from the last horse auction held on site.
“It’s been an amazing collaborative effort to realise our vision, and I think all will agree that this park and playground will become a significant cultural asset for Randwick.”