Australand's $750 million residential icon Freshwater Place is Sydney's fastest selling luxury project…and buyers don’t seem to care that Freshwater Place is on the banks of Melbourne's Yarra. According to many, Freshwater Place is set to become the ultimate home away from home for many of Sydney’s social elite. Australand’s Victorian General Manager Rob Pradolin told propertyreview.com.au more than one third of the 300 purchasers of the luxury apartments are from Sydneysiders. Pradolin refused to give names of purchasers, however, a number of well known names have been mentioned in the media in recent months. Earlier this year, however, ‘The Australian’ reported that former Packer Jodi Meares had purchased at Freshwater Place along with former ABC chief Jonathon Shier. Also holding fort at Australand’s largest project is Toll Transport supremo Paul Little. “A luxury tower in a prime position beside the harbour in Sydney would cost probably two and a half times the price of a luxury apartment or townhouse in the sky at Freshwater Place,” Pradolin added.
The average price for an apartment at Freshwater is more than $1.2 million and that is a record for Melbourne.“Sydneysiders are amazed at the value for their dollar in the upper end of the apartment market compared to what they get in similar markets in Sydney,” he said.“Also, the problem in Sydney is that the last great sites on the harbour are all but gone. Freshwater Place offers buyers the chance to buy at Southbank’s last major waterfront site next to Southgate and Crown.“The views at Freshwater can never be built out and they boast Melbourne’s ultimate.”