With the North-West Metro Line opening in less than 5-6 months, first home buyers and investors have been drawn to off the plan apartment projects such as the landmark $850 million master-planned community, Carrington Place by Ellipse Property, located directly opposite the future Hills Showground Station in the heart of Castle Hill.
Not only are they attracted to the time-saving commute, shaving up to 15 minutes off driving from Castle Hill to the CBD at peak times, but they are also aware of recent research (released by CBRE and Proptrack) that found apartments along Sydney Metro stations attract premiums of 20 percent higher than similar properties in neighbouring suburbs.
Carrington Place Project Director Joe Chiha says apartments surrounding Metro Stations are predicted to outperform similar projects in neighbouring suburbs by up to 20 percent recent research has shown.
“As the premium suburb in the Hills District, Castle Hill is poised to see the lion’s share of that uplift. Apartment prices have grown in the suburb by 72% in the last ten years.
“Rental returns in Castle Hill are expected to be averaging over 4% which is an attractive return for investors,” he added.
Carrington Place’s first residential stage, Atrium, comprises 151 apartments within one mid-rise eight storey building, which forms the gateway to the Carrington Place precinct and offers a range of amenities. Residents will enjoy rooftop recreational spaces that provide breathtaking views of the surrounding landscape and overlook the tranquil Cattai Creek.
Uniquely, the precinct will also be home to over 20,000 square metres of recreational space including outdoor gyms and wellness areas as well as lush gardens, conceived by landscape architect, Site Image Landscape Architects, making it one of the greenest masterplanned communities in the Hills district.
The prime development site, which is the largest residential project in Castle Hill, spans approximately 3.2 hectares.
PRD Norwest Director David Inkster who is managing sales for the project, says the team had seen a strong response from first home purchasers and investors who are mindful of the opening of the Metro Line and are keen to secure early pricing.
“Carrington Place is an ideal development for those looking to secure their first property as well as investors looking for tenants who are professionals attracted by the convenience of the shortened commuter time on the fast driver-less trains to the CBD – opening in mid-2024.”
“Atrium’s multi-staged development is poised for consistent price increases, anticipated significant appreciation by the project’s scheduled completion date Q3 2025. Interested purchasers should act now to enjoy the benefits of future growth,” he said.
Once completed, the masterplanned community, Carrington Place will comprise 771 apartments built across five, eight to 12-storey buildings. Residences will include a mix of one, two and three bedroom apartments as well as a variety of larger, premium two-bedroom and three-bedroom apartments that truly resemble homes rather than typical apartments.
Stunningly designed by award winning architectural firms in a collaboration between Tony Owen Partners together with Stanisic Architects, the buildings have been sensitively designed to immerse with its surrounding natural landscapes while complementing the curve of the tranquil Cattai Creek which runs along the western border of the development.
A key feature of the project will be a one-kilometre boardwalk running the length of the Cattai Creek connecting to Fred Caterson Reserve, a 58-hectare local reserve featuring picnic tables, children’s playgrounds, along with multiple sports facilities.
Castle Hill in transformation and revitalisation
Castle Hill residents are currently witnessing the gradual and dramatic transformation of the popular Hills suburb into a modern, cosmopolitan and dynamic urban centre.
The Hills Shire Council has a 30-year vision for the redevelopment and revitalisation of the Castle Hill Showground Precinct, located directly opposite the Carrington Place project, planned to create a new 15-hectare entertainment and recreation hub including a variety of community, arts, sporting and leisure activities. The iconic Showground site will become the primary civic space for a new precinct of the future local Hills communities.
Located directly opposite the Hills Showground Metro Station, residents of Carrington Place will have access to Sydney’s CBD, Chatswood, North Sydney, Macquarie Park and Norwest Business Park. With trains operating every four minutes in peak hour in each direction, residents are offered the highest convenience on Australia’s first driverless railway.
Construction is planned to commence imminently with Stage One Atrium due for completion in Q4 2025. The entire five-stage precinct is due for completion in 2032.
For further information, please visit www.carrington-place.com.au.