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AND FINALLY RESIDENTIAL PROPERTY

Flour Mill reaches peak

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DAIWA House Australia and EG Developments’ $340 million Flour Mill of Summer Hill masterplanned community in Sydney has reached completion, and in a bid to move the remaining apartments the developers will cover the first six months of any new purchaser’s mortgage.

Across 2.4 hectares of former industrial land, the four-stage project was delivered over five years and now has 360 apartments and terraces over 11 separate buildings set around a central plaza and community park, with 750 residents now calling it home.

There are 33 apartments still available for sale from the project’s final two stages in the Malthouse, Granary, Wheatstore and Durum Silos buildings. Prices range from $600,000 for a one-bedroom apartment to $1.335 million for a three-bedroom apartment, with two-bedroom configurations also available.

Georgia Macintosh, EG’s senior development manager said the offer for the developers to cover the cost of the first six months of a mortgage applies to any of the remaining 33 apartments.

Positioned between Smith Street, Edward Street and the light rail track in Summer Hill, the triangular precinct was formerly home to Allied Mills, which took over the original site that was developed by Mungo Scott.

Mungo Scott commenced operations in 1922 and its original mill still stands, while the site’s remaining landmark silos appeared in the 1950s. Milling ended on the site in 2009.

Australian Property Journal