SYDNEY-based builder Lipman Group has been appointed to begin construction on the historic St John’s Church site at Paddington in Sydney's east.
The new St John’s project will be a new boutique residential and retail development, with prices for three bedroom apartments starting at $1.675 million and range up to $2.75 million for the penthouse, with the freestanding home in excess of $3.5 million.
The project is expected to be complete in early 2014.
Savills residential projects divisional director Peter Coulton said interest levels to date have been very strong and from a wide range of buyers.
“We have had empty nesters who are looking to downsize now the kids have left home to young professionals who already live in the area and do not want the hassle of having to buy and renovate an old terraced property, and the fact that two sales have now already been agreed prior to the launch demonstrates that a quality product will result in high levels of demand,” Coulton said.
Property Review