Fresh Taste For Buying & Selling

Market Insights
8 years ago
3 minutes

All eight luxury apartments in The Astonia Residences in Milsons Point have exchanged within three weeks of a re-launch by nascent project-marketing firm Boutique Estates, from $4.5Million to a record $15.6-Million.

The three-storey development at 10-18 Cliff Street totalled more than $48-Million in sales at an average of $22,500psm.

The top price of $15.6 million was for a whole floor apartment of 780sqm. It has seven bedrooms, eight bathrooms, a home cinema and a gymnasium, and is believed to set a record for an off-the-plan apartment on Sydney’s North Shore. 

The Astonia Residences was the first project-marketing assignment undertaken by Boutique Estates, which was established in 2013 by Vanessa Gilbert and Juliet Anderson, both of whom have extensive experience internationally selling prestige homes and acting as buyer’s agents.

“Two of the purchasers were from mainland China while the others were Empty Nesters from the upper and lower North Shore,” said Vanessa Gilbert, a Director of Boutique Estates. 

“What appealed to buyers in particular was the size of the apartments which are significantly larger than is standard for Milsons Point and across Sydney. Each has at least three bedrooms, three car spaces, and substantial storage space. In reality they are a similar size to the large family homes they will be leaving.”

Fellow Director of Boutique Estates, Juliet Anderson, said the prestigious design by Nettleton Tribe, the water views and the convenient and energising location were contributing factors for buyers.

“The mantra of these wealthy Empty Nesters is ‘to have fun and stay young’,” said Ms Anderson, who has worked for leading agents in Beverly Hills. “They are exploiting their new freedom and enriching their lives by moving into a stimulating environment where they eat out more and become much more socially active.

“When they want to travel they have the ‘lock-and-leave’ security that comes with maintenance-free apartments.”

The capabilities of Vanessa and Juliet is enhanced by experienced project marketer Alex Tsaoucis, who says most developers of exclusive property are looking for an alternative approach to mass marketing. 

“The large project marketing companies do a very professional job appealing to the masses, but prestige property requires a highly tailored and sophisticated approach, which is the gap in the market that Boutique Estates aims to fill,” Mr Tsaoucis said. 

“Not only do we appeal to high-end property vendors and purchasers but we can take a more formulated approach to marketing a range of developments throughout Sydney.”  

The Astonia Residences is being developed by CSPD Pty Ltd and is expected to be completed by August-September, 2016. The Executive Director, Christopher Bregenhoj, praised the creativity and customised service of Boutique Estates.

“Boutique Estates is committed to a personal approach that involves building lasting relationships and confidence among vendors and purchasers,” he said. “The company principals are well connected socially, deliver on promises, and always put the interests of their clients ahead of theirs. 

“They did a fantastic job selling all apartments so quickly and without fuss.”