Developer Goldfields has received development approval for a 24-level tower in Chatswood, Sydney, marking one of the first approved projects under the Chatswood CBD Planning and Urban Design Strategy.
The Bryson project was a 70-unit residential and commercial tower designed by Make Architects, with a mix of 1, 2 and 3-bedroom apartments.
Agents were already fielding wide-ranging demand, with onsite demolition due to commence April.
Chatswood sat at the commercial and residential heart of Sydney’s Lower North Shore, just 8km north of Sydney’s CBD.
The Bryson was situated just 400 metres from Chatswood Railway Station and the iconic Westfield Chatswood shopping centre.
The Willoughby City Council population forecast for 2023 was 78,783, and was forecast to grow to 87,415 by 2036 – representing 10.96% growth.
Goldfields CEO Lachlan Thompson said Sydney’s Lower North Shore had become one of the most sought-after places to live and work in Australia.
Ian Bennett, Director of Residential at Colliers, said the Chatswood market was going from strength to strength.
“With the launch of The Bryson, this has been the first time in about five years that an apartment project of this scale and calibre has been brought to the Chatswood market from an off the plan perspective,” he said.
Bennett said the Bryson was already around 30% or $25 million sold at launch, an indication of the strong demand for apartments in the Chatswood market.
He said in the last 18 months, sales activity was driven by downsizers and families purchasing three-bedroom, premium apartment stock as an alternative to increasingly expensive existing residential housing.
But early activity in 2023 has seen one-and two-bedroom apartments proving just as popular, with sales at The Bryson spanning a diverse range of product purchased by a wide range of local buyers including first homebuyers, young executives, downsizers and investors. There has even been early interest from FIRB purchasers.