Buyers rush to grab the high life

Aug 10, 2013

Sydney Morning Herald / 17 August 2013

‘Waverley mayor Sally Betts isn’t surprised that 90 buyers snapped up all but three of the 93 apartments available at Bondi Junction tower Capitol last weekend. It’s got a lot to do with the view. There’s a taste of it when you scoot along the expressway – pleasant city, harbour, bridge and even Opera House glimpses – but as she points out, because the Junction sits along a ridge, from 20 storeys up the outlook is ”quite stunning”.

”Go to any of those newer buildings and have a look,” she said. ”You can see the harbour, see the sea, you can even see whales … there’s the airport and you can see people playing golf. ”I don’t think there’s a view like it anywhere in greater Sydney.” These days, it is common for large off-the-plan projects to be simultaneously launched in Hong Kong but it wasn’t necessary for the Capitol. ”The demand was so strong we had no need to go overseas,” CBRE agent Tim Rees said.

”It was a four-week campaign and we received 3000 inquiries and had over 600 inspections in the display suite before the launch. ”They were all local Sydney buyers, half investors who can get a 5 to 6 per cent yield…”’

Extracts from article by Stephen Nicholls.