Mark Moran and his sister Evette will be feeling more comfortable with reports of strong expressions of interest for their 109 apartments and suites co-located with an 81 bed care facility projects in exclusive Vaucluse in the Eastern Suburbs of Sydney.
It is a four level development designed by Marchese Partners.
The construction cost is $100M on top of the land which costs and $23.5M in 2011. At 25% for professional services and holding costs, they will need to collect $155M or more to cover their investment. Average apartment pricing will need to exceed $1 million, with the top bracket expected to be triple this amount, offering three bedrooms plus study and sweeping harbour views.
The first release of 60 apartments and suites was opened earlier this month supported by and on location display suite and video. Expressions of interest and deposits are reported to be strong.
