Lots of development happening in the city at the moment.
U2 Adelaide CBD project hauls in $25m in sales in one day
- RICHARD EVANS COMMERCIAL PROPERTY
- THE ADVERTISER
- MAY 05, 2015 11:16AM
CITY living in Adelaide is about to take a significant upturn after an extraordinary sales launch of Adelaide’s newest city apartment development last Saturday.
One hundred and seven apartments, of 257 available at the U2 development on Waymouth St, were sold at the launch, which attracted 300 pre-registered buyers to Adelaide’s Intercontinental hotel.South Australian property developer, Datong Australia, which is behind the construction of the 25-storey building, said Saturday sales of the one, two and three bedroom apartments amounted to around $25 million.Datong brand manager Zac Mengliang Yu said the rooftop gym, sauna, spa and cinema, available to all purchasers and to be known as Utopia, had proved a huge attraction to would-be buyers.
New U2 building on Waymouth St, Adelaide.
“There is no need to worry about the view from any level as all residents will have access to the free rooftop terrace,” he said.Prices climb in tandem with the level of apartment he said, with floors 12, 16 and 17 already sold out. The CBD location and price were key determinants in buyer interest said Mr Mengliang Yu.Each floor has 14 apartments with the identical design and style replicated on every level. Car parking for 137 spaces is available, on levels one to four, for buyers of the two and three bedroom apartments and there will be a restaurant on the ground floor as well as a mini 24/7 supermarket.A novel “dual key” option gives buyers the chance to buy two like for like, and adjoining, apartments under one title which allows the buyer to rent out one apartment or take advantage of the secure interconnecting door by converting the studio into a two-bedroom apartment, offering additional privacy between living and bedroom spaces.A unique 3D display unit — to be available as an app from next week — was used by Datong display centre manager Sean Guo on Saturday to give buyers an idea of the view they can expect from each window on each floor in addition to offering a virtual walk-through inspection of their new pad.Sales demographics had pivoted equally between investors and buyers intending to live in the properties said Tony Matthews, general manager at Connect Real Estate Urban Projects which is marketing the U2 development.“I have not seen this level of interest or activity in a new development since pre GFC,” he said.Potential buyers were looking from the eastern seaboard across to Adelaide, he said.“You can buy three of these apartments for the price of a median property in Sydney. Adelaide is on the radar now as a place for buyers.”Buyers to-date have been a mix of South Australians, interstate and overseas parties, he said.Prices range from a one-bedroom apartment from $298,000 through to a three bedroom option at $597,000.Construction began last month and is expected to be completed by mid 2017.