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Sydney's Latest Million Dollar Suburb

Friday, 25th May 2012

Who said Sydney Olympic Park would be a "white elephant" once the Olympians packed up and left town?

The 640-hectare suburb has become Sydney's latest to record apartment sales of more than $1 million. Thirteen in fact, with the highest price of $1.295 million.

While the majority of sales at Sydney Olympic Park have been under $600,000 for one and two-bedroom stock, the larger apartments have proven to be popular with owner-occupiers.

"People appreciate the lifestyle advantages of being in the sporting and entertainment heart of Sydney, with world class facilities and cultural events at their fingertips, 430-hectares of parklands and 35 kilometers of bike tracks," says David Chittenden, the General Manager of Colliers International.

"Rather than the post-Olympics 'hangover' some doomsayers predicted, Sydney Olympic Park has gone from strength to strength, and has developed into a sophisticated commercial, retail, medical and educational centre. The influx of permanent residents has made it a complete suburb."

In the recently launched Australia Towers II, 111 of the 267 apartments have sold for a combined value of more than $73 million. The bulk of purchasers for the stunning 25-storey Australian Towers II have come from the Inner West and the Hills District.

Remaining apartments at Australia Towers II are:
  • One-bedrooms (54-71 square meters internally) from $470,000 to $640,000
  • Two-bedroom (77-122 square meters internally) from $565,000 to $1.04 million
  • Three-bedroom (103-159 square meters) from $935,000 to 1.35 million
  • Four-bedroom (141-181 square meters) from $960,000 to $1.18 million

Construction of the curvacious 25-storey Australia Towers II is scheduled to start next month, with completion expected by early 2014.

Sydney Olympic Park is one of Sydney's few master-planned suburbs, so everything is the best of the best. The NSW Government recognises the Sydney Olympic Park as a precinct of significance with its prosperity assured, with an estimated population of 50,000 by 2030, plus 20,000 daily visitors.

Sydney Olympic Park is easily accessible to most of Sydney with nearby bus, train and ferry services operating regularly. Proximity to the Sydney Orbital network comprising of the M2, M3, M4, M5 and M7 means greater Sydney is also quickly and easily accessible by car.

The Australia Towers II display centre is on the corner of Australian Avenue and Herb Elliot Avenue, and is open daily from 11am. Further information is available on 1300 882 088 or through the website: www.australiatowers.com.au

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