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Sites Near Public Transport in Demand

Friday, 03rd October 2014

Traffic congestion, mounting road tolls and ever-increasing petrol prices are ‘driving’ demand for apartments close to ferry wharfs, railway stations and bus routes – and developers are responding.

The latest is ‘Meadow Bay’ at Meadowbank, which combines comfort with the convenience of being just short walk from ferry, train and bus services.

The project’s location is sure to ‘fuel’ enquiries, and is a perfect example of what the NSW Planning Minister, Pru Goward, is trying to achieve with her proposed changes to apartment design standards. By eliminating the need to provide parking on site Ms Goward hopes to encourage developers to build near public transport hubs.

While each of the 30 apartments at ‘Meadow Bay’ has secure underground parking, locations where you can do without a car, or at least leave your car at home during the working week, are in high demand.

Property experts Regency Real Estate say people’s frustration at being stuck in traffic and having to pay the spiralling cost of petrol and road tolls have influenced real estate buying patterns in Sydney over the past three years. 

“At ‘Meadow Bay’ you can get to the city by train in 20 minutes and to Parramatta in half that time,” said Harj Uppal, Managing Director of Regency Real Estate. “Ferries from Meadowbank Wharf run every 30 minutes during peak hours and there is no more relaxing way to travel.

“A bonus is that today’s technology enables you to be productive when travelling to and from work on public transport, if you wish.”

The developer of ‘Meadow Bay’, Auslon Property Group, confirmed that proximity to public transport and existing infrastructure was an important factor in determining where to develop.

“One of our criteria when selecting sites is that they are well served by existing public transport and local amenities, and ‘Meadow Bay’ ticks all the boxes,” said Steven Yu, Managing Director of Auslon Property Group. “The location is close to several shopping centres, excellent schools, parklands and, of course, it is near the foreshore of Sydney Harbour.”

Meadow Bay’ at 115 Bowden Street, Meadowbank, was designed by FORM architects to follow the contours of a rock-faced escarpment formed in the construction of an underpass in the late 19th Century.

“The opportunities provided by the orientation and topography of the site meant we were able to ensure maximum solar access and views east along the Parramatta River valley and across the leafy northern side of Meadowbank,” said architect Ron Edgar. “In fact, each unit has its own unique aspect.”

The rounded corners of the building and the materials selected for the external finishes are intended to evoke the industrial and technological history of Meadowbank in the 19th and 20th Centuries. “We’ve combined refined ‘machined’ metal and glass finishes with raw timber for infill and screening panels,” Mr Edgar said.

The landscaping has been designed by Andrew Pawsey to merge the building and the escarpment.

Meadow Bay’ has a mix of interesting floor plans, with living areas and bedrooms arranged to balance privacy, solar access and views. Among the quality inclusions are Bosch kitchen appliances, European tapware and Samsung digital door locks that can be accessed by fingerprint, passcode or conventional keys.

Internal sizes, and pricing, of ‘Meadow Bay’ are:

·         4 one-bedroom (50 - 54sqm) from $499,000 to $599,000

·         22 two-bedrooms (76 - 85sqm) from $755,000 to $,899,000, and

·         4 three-bedrooms (100 -114 sqm) $1.2 million to 1.5 million

Levies calculated by Strata Choice for ‘Meadow Bay’ are $576-650 for a one-bedroom, $744-792 for a two-bedroom and $984 for a three-bedroom apartment per quarter.

Construction of ‘Meadow Bay’ will start early in 2015 and should complete around mid-2016. Plans for ‘Meadow Bay’ are on display through Regency Real Estate, Phone:1800 336 589 or www.meadowbay.com.au

 

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