North shore apartment project is ideal for downsizers
Empty-nesters are flocking to a north shore residential development which gives them the chance to embrace a new way of living without sacrificing space.
Moore Development Group, which has completed a number of boutique local projects, has snapped up a former family home in Mosman and will turn it into a quirky building.
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The four-storey creation named The Berkeley will house an entire apartment on each floor — each one spanning 13m wide and offering between 140 sqm and 160 sqm of internal space.
With the four expansive homes now on the market, Ray White Lower North Shore’s director of projects Tim Abbott is working closely with a number of potential buyers.
“One of the interesting aspects of this project is that part of the (council) consent has a rule whereby somebody residing in the property needs to be in the age of group of 55 or over,” Mr Abbott said.
“This is important because normally one can’t build apartments in this area, so this is how the developer has been allowed to deliver apartments in what is regularly a residential house zone.”
The listing agent has seen plenty of interest from those aged 60 or above, all wanting to live close to people around the same age.
He said most of the eager buyers were from neighbouring suburbs, with some looking to leave the Hills and upper north shore regions.
CoreLogic records show the house currently on the 1094 sqm site at 216 Raglan St sold in 2012 for $2.75 million.
Construction is anticipated to start in June with completion of the project slated for late 2020.
With lift access, the homes will have high ceilings, multi-paned glass doors, atriums and underfloor heating in the luxe bathrooms.
“Being early days for a small development, people can have input in the interiors,” Mr Abbott said.
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Designed as three-bedders, the apartments are priced between $4.95 million and $6 million.
Set near cafes, restaurants and Balmoral Beach, they will have views overlooking Middle Harbour.
Visit theberkeleybalmoral.com.au to find out more about the apartments.