Units snapped up in Mashman’s Kingsgrove block

June 28, 2011

BY SANDRA SIAGIAN

Great appeal: Prospective buyers check out a display of The Pottery at Kingsgrove on Saturday. Picture: Jane Dyson

ALMOST 85 per cent of units were sold off-the-plan in a multi-million dollar landmark development at Kingsgrove on Saturday.Prospective buyers queued up before 8am to purchase a unit at The Pottery — the development on the former historic Mashman Pottery site next to Kingsgrove railway station.CB Richard Ellis (CBRE) associate director David Lee said there was a mix of first-home buyers, owner-occupiers and investors at the sales, with one-bedroom units starting at $395,000 and three-bedroom units at $775,000.‘‘It was a strong turnout, with 81 of the 96 units sold in our opening weekend,’’ Mr Lee said.

The Pottery will be developed by Buildform Construction group and designed by the Kann Finch Group.

Construction will begin in the next two months and is expected to be finished by July 2013.

There are six one-bedroom units, 65 two-bedroom units and 25 three-bedroom units.

There will be 5000 square metres of retail space below the unit block, including a Woolworths supermarket.

There will also be 150 residential parking spaces with 250 retail parking spots.

Mr Lee said The Pottery had set a benchmark for quality medium-density units at Kingsgrove.

‘‘All our one-bedroom units sold, and the two-bedroom units were very popular,’’ Mr Lee said.

‘‘[Most] of the two-bedroom units were under $600,000, which meant they were exempt from stamp duty, hence the popularity.’’

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