McGrath Central Coast and property developer Central Real have announced a new residential development offering a housing affordability initiative aimed to assist first home buyers.
Located on New South Wales’ Central Coast, the development known as ‘Icon’ will comprise 57 apartments, with a selection of one, two and three bedroom residences.
Icon’s apartments feature Miele appliances and floor to ceiling tiles in every bathroom. They also offer uninterrupted water views, large terraces and stacking doors to take in the views.
Icon is positioned within a few hundred metres of Gosford Railway, Gosford Hospital and five minutes from the M1 motorway to Sydney.
First home buyers who purchase an eligible residence in the Icon development will receive a one-off $7,250 cash payment provided by the developer, matching the potential savings a buyer can achieve over a 15-month period under the Federal Government’s recently announced First Home Super Saver Scheme.
The amount of $7,250 will be paid directly to eligible first home buyers on settlement and will not be determined by their contribution amount to the Super Saver Scheme.
Central Real Founder and Managing Director Tony Denny agreed that first home buyers find it difficult to break into the property market.
“We support the Government’s new Super Saver Scheme and have matched the potential savings these buyers can achieve over a 15-month period with a cash payment of $7,250.
“With 20 apartments available in Icon under $550,000 and an initial deposit of just 5 percent required, we hope our affordability initiative will break down a few barriers for first home buyers.”
The incentive provided by Central Real will be available to eligible first home buyers in addition to the Federal Government’s Super Saver Scheme, the NSW Government’s First Home Owner Grant (New Homes) scheme and Stamp Duty concessions for new homes.
Due for completion in 2019, McGrath Central Coast Principal Jaimie Woodcock said Icon’s one-bedroom apartments will provide an ideal opportunity for first home buyers to get a foothold in the property market.
“With significant investment in infrastructure and services in recent years, Gosford is an increasingly sought-after area.
“Housing affordability continues to be an issue for many Australians, particularly first home buyers. We hear the frustrations of buyers every day in our local community and it’s exciting to be able to offer an incentive that will make a genuine difference.”
THERE is another ray of light for first-home buyers in former used-car sales king Tony Denny’s latest Gosford residential development.
After providing a raft of similar incentives for first-home buyers last year, the Central Real boss is backing it up with a $10,000 furniture voucher or a $7250 cash payment for those wanting to get a foot on the property ladder when his 57-apartment Icon development in Kendall St is launched on June 17.
“It is difficult for first-home buyers trying to break into the market,” Mr Denny, who owns the $70 million Gosford Classic Car Museum, said.
“We support the Federal Government’s new Super Saver Scheme and have matched the potential savings these buyers can achieve over a 15-month period with a cash payment of $7250.
“With 20 apartments in Icon under $550,000 and only an initial deposit of 5 per cent required, we hope to break down a few barriers for these buyers.”
McGrath Central Coast principal Jaimie Woodcock, who will oversee sales for Icon, praised Mr Denny’s support for local first-home buyers.
“We hear their frustrations every day out in the community and it’s exciting to be able to offer an incentive that will make a huge difference,” Mr Woodcock said.
“This would have to be the best offering I’ve seen in 22 years of selling real estate to genuinely assist with the purchase of a property.”
Hovering over Central Coast Stadium with views of Brisbane Water, Icon will boast a selection of one, two and three-bedroom apartments, featuring glass rooms and expansive terraces.
A PENTHOUSE with priceless views of Brisbane Water has become the first apartment to crack the million-dollar mark in Gosford, selling for a record $1.6 million off the plan.
An IT businessman from Sydney’s northern beaches had “no hesitation” in forking out big bucks for the top-floor Donnison St dwelling in BRW rich-lister Tony Denny’s latest luxury apartments to hit the market.
Mr Denny, who amassed a $333 million fortune selling second-hand cars in Europe, said 31 of the 33 Scenic apartments had already been sold by McGrath Estate Agents after being launched earlier this month.
“It’s been an incredible response,” the boss of development company Central Real told the Express Advocate.
“The demand has come from a mix of first home buyers, mostly from the Coast, as well as Sydney investors and downsizers.”
According to Core Logic RP Data, no apartment has ever sold for a million dollars in Gosford.
And the man who bought the Scenic penthouse, Louis Madeley, said he and his wife, Jane, found it “great value in a fantastic hub”.
When told it was a record apartment sale for Gosford, he said with a laugh: “You shouldn’t say that to the buyer; it doesn’t make me feel good at all.
“But seriously, this is something special.
“We’re soon-to-be empty nesters and this is the perfect location for us: close to the Hunter wineries, near a train line where I can head to the (Sydney) city for work and the airport, and we’ll have incredible views to wake up to in a uniquely built apartment.
“We’re pretty pumped.
“And for the same-sized penthouse in Sydney, we would have paid three-to four times as much.”
The Scenic apartments are expected to be built by late 2018.
THE 33-apartment, high-end Scenic development is part of Tony Denny’s $190 million property plans to boost Gosford and surrounding suburbs.
The 55-year-old Killcare Heights resident said he had been blown away by the huge demand for his latest luxury apartments. “There is such a strong market demand for what we’re doing at the higher end of the market,” Mr Denny said.
It follows the highly successful debut launch by his development company, Central Real, of the Vue apartments in Kendall St, Gosford. Working in conjunction with McGrath Estate Agents, the founder of the $70 million Gosford Classic Car Museum offered struggling first-home buyers a $10,000 furniture voucher, a reduced deposit and an exclusive head start to buy a new apartment.
His next release will be in May with the launch of a 58-apartment block called Icon.
Before then, Mr Denny said he would be putting in a development application for a new six-storey building at his $70 million Gosford Classic Car Museum, with a “world-class” Asian-style restaurant set to be the centrepiece of it.
Mr Denny, who debuted at No. 179 on the 2015 BRW rich list with a $320 million fortune after selling his Europe-based AAA Motor Group, said the new building would have a 1500m sq footprint at the eastern part of the museum.
“It will include two floors of showroom, a cafe, memorabilia shop, office space over three levels, and potentially a world-class Asian-style restaurant and bar on the top floor with an outdoor terrace where we’d have live jazz music with amazing views of Brisbane Water,” he said.
Gosford’s Scenic Apartments complex had a strong start to sales on Saturday, with 60% of the build snapped up on opening day.
Investors and owner occupiers were both represented among the build’s buyers, and the complex’s impeccable interiors and Gosford location were key selling points for many punters.
Jaimie Woodcock, Managing Director of McGrath Central Coast, said interest had been strong throughout the initial marketing campaign, which had reach across the coast and in Sydney.
“There’s such an increased demand for new property close to Gosford railway and Gosford Hospital that cater for the more astute buyer that expect quality,” he said.
Mr Woodcock said the development’s strong start to sales represented a shift in attitudes towards owning a unit in the area.
“Apartment living on the coast has traditionally been considered the second option for homeowners but with the level of quality development being introduced in the region along with the world-class views ... there’s been a real shift towards the convenient and modern new lifestyle,” said Mr Woodcock.
IT’S got all the hallmarks of trendy inner city neighbourhoods. Coffee shops with a vast array of roasts, a small bar with a cosy nook to settle into.
But this isn’t Sydney’s Newtown, Melbourne’s Carlton and Brisbane’s New Farm — all minutes from the CBD.
This is Gosford — on the NSW Central Coast — and it’s one-and-a-half hours by train from central Sydney.
If you’re young and upwardly mobile moving a few suburbs out from the CBD is no longer enough. Now you might just have to suck up an achingly long commute if you want a new home.
On Tuesday, NSW Premier Mike Baird said first homebuyers would increasingly have to choose between urban living in crowded apartment blocks or “greenfield” sites outside the city if they wanted a home with the Aussie staple of a garden.
“Across the world, with increasing populations there are changing notions of the home and how it’s situated,” said Mr Baird who lives in Sydney’s sought after Northern Beaches a half-hour ferry ride from the Sydney Harbour Bridge.
“It’s up to individuals … to go to a greenfield site with a home and a backyard and everything you think that would be historically counted as the traditional Aussie home.
“But there are others that have decided to stay nearer to public transport, nearer to the city.” “That’s a choice for individuals,” the Daily Telegraph reported.
Labour planning spokesman Michael Daley has previously said first-time homebuyers in Sydney would have to consider living away from the city in Gosford or even Bathurst — four hours from Central.
In Victoria, towns and cities that surround Melbourne including Werribee, Castlemaine and Ballarat are increasingly becoming dormitory suburbs for people priced out of the city.
Last year the median house price in Sydney rose 15 per cent. James Nouri, who runs the Jimmy G’s chain of coffee shops in the Gosford, is one of those benefiting from the migration out of Sydney to a city undergoing a rebirth.
He told news.com.au that a series of Government departments moving to the area — and the city folk they brought — had changed the area. “Every day we’re meeting people who have moved up from Sydney,” he said.
“They move here and they can be just 50 minutes from the Harbour Bridge.” Mr Nouri said it was a risk to bring something approaching an inner city coffee shop to an outer suburban city. But it has worked with five Jimmy G’s on the Central Coast.
“There’s definitely been a bit of a culture shift. From a hospitality perspective it was people like myself that took a bit of a gamble and tried new things and that has worked.
“When we opened up it was just hot frothy cappuccinos so we introduced a new style of coffee the way it should be.”
A year ago he began advertising in Sydney for baristas in his Gosford outlets because they had more experience. To tempt reluctant cityphiles he talked up the less frenetic traffic, cleaner air and lower cost of living.
“Also, no matter which direction you travel in there’s a beach 10 minutes away. If you live in Concord (in Sydney’s inner west) and you want to live in Bondi you’ve got an hour and a half trip.”
Dr Lauren Rosewarne is an expert in social trends at Melbourne University. She said there was nothing new about people heading into the suburbs or even out of the city completely.
“I live in central Melbourne and my apartment could basically fit inside an average car. This wouldn’t suit me if I wanted a child or pets there and there are lots of people who wouldn’t choose to put up with that.”
While some people are grudgingly forced out, others are more than willing to forego the doubtful charms of the inner city. “They want to have a backyard, access to open space and not have their faced pressed again the glass window of a tram,” she said. Clever regional cities had worked this out and sold themselves as lifestyle destinations combined with the best trappings of urban areas.
“Castlemaine (in the Goldfields) did an aggressive advertising campaign around their improved train links to Melbourne. Ballarat and Bendigo (the latter more than two hours from Melbourne’s Flinders St station) have created this idea of satellite cities.
“While this might be foreign to many Australians, think of people travelling from New Jersey into Manhattan everyday — it’s happening all over the world,” she said.
Like Gosford, it wasn’t just commuters in the regional cities. Big employers — like Bendigo Bank in the city after which it’s named — made regional centres attractive places to set down roots.
As new people moved in they inevitably changed the face of that area, Dr Rosewarne said. Werribee now had a school teaching the international baccalaureate qualification.
“This would have been unthinkable 10 years ago but they know that some parents will eventually want to send their kids to study overseas.
“Remember, in regional areas, it’s not just the patrons of those cafes that are moving but the owners of those cafes as well who want to go somewhere where the cost of doing business is lower,” said Dr Rosewarne.
But there was a limit.
“You can’t have FIFO (fly in fly out) commutes. You have to be able to work and home in a day.
“So it’s a cost-benefit analysis. Is my commute under two hours each day? Is the benefit of having a back yard discounted by sitting on a train? People have to work out what constitutes a quality of life for them,” she said.
Will suburbs closer to the city wither and die as the people that made them all the rage leave?
Kirsten Seale, an adjunct professor at Western Sydney University’s Institute for Culture and Society, said the higher house prices and policies such as Sydney’s controversial lockout laws were contributing to the “suburbanisation” of the inner cities.
“Globally, the pattern is a familiar one. Redeveloped or new housing and commerce are targeted at more affluent investors and consumers. Areas that were urban in their social and cultural mix become increasingly homogeneous,” she wrote on website The Conversation.
However, Dr Rosewarne said the inner suburbs would continue to have some buzz about them. “There will always be people who want to live there, people like me who don’t drive, who want to be close to work.
“And there will also be older people who do the reverse and move into town to be close to hospitals and other facilities and have a smaller house to look after.”
She had a message to young people who were holding back about moving away from the inner suburbs.
“It doesn’t matter where you grew up, you tend to have to move that little but further out if we want to replicate the lives of our parents. “And that all because of the property prices”.
ONE of the Central Coast’s most enviable suburbs is set to transform into a trendy urban oasis for professionals and retirees with the launch of a striking multistorey residential complex overlooking Brisbane Water.
Bringing the region more choice and variety for buyers craving something fresh and modern, millionaire developer Tony Denny is rejuvenating the Coast one project at a time.
Following on from the huge success of “Vue” in Gosford, the Central Real kingpin’s latest venture, “Marina”, is already starting to take shape by the water in nearby Point Frederick.McGrath Central Coast is once again leading the charge in sales for Central Real with principal Jaimie Woodcock calling Marina one of the most impressive and unique projects he has ever come across
“I don’t know of any other apartments on the Central Coast that will have this level of build quality combined with such spacious outdoor living options,” Mr Woodcock.
“With the level of design and architectural merit in this building it’s the sort of project that would be right at home on the Sydney foreshore — the great difference though will be the level of affordability in comparison.
“What Central Real have been able to with this site is really clever.
“They’ve managed to create a perfect mix of luxurious penthouse and subpenthouse apartments, along with some really affordable living options, that still enable the purchaser to take advantage of a beautiful architectural building in a blue-chip location.”
Glamorous kitchens and bathrooms, stunning outdoor terraces and magical views over Brisbane Water combine with striking architecture by IntegratedDESIGNgroup to create the ultimate position of privilege for buyers.
The developer is even throwing in exciting incentives such as free underfloor bathroom heating for the first 10 purchasers.
“Point Frederick offers an incredible lifestyle being so close to the waterfront and amenities, but there is very limited choice for buyers who wish to move from their family home into somewhere special to enjoy the next chapter in their lives,” Central Real chief executive officer Richard Ellis said.
“Marina will appeal to several sectors of the market, but in particular we feel downsizers, professionals and investors will be attracted to this development.”
TWO of Australia’s wealthiest and most powerful businessmen, Tony Denny and John Singleton, are teaming up to transform Gosford into a city of dreams — and then sell it to the world.
In an exclusive interview with the Express Advocate, Mr Denny — who now calls the Coast home after building a $333 million fortune out of selling second-hand cars in Europe — revealed he and Mr Singleton had been holding talks on joining forces to bring Gosford into the 21st century.
Millionaire advertising guru John Singleton is understood to have pumped about $40 million into promoting Gosford over the past 20 years. Former used-car sales king Tony Denny has revealed his frustrations with the lack of progress in Gosford.
“I’m in regular discussions with John and his CEO Monique (Marks) and (Primo Group CEO) Paul Lederer about what they are doing. We’re considering putting together a PR team to promote Gosford because of the frustrations we have.”
Mr Singleton, who is just ahead of Mr Denny at No. 155 on the 2016 BRW rich list with a $416 million fortune, said he was delighted the former used-car sales king had come on board the Gosford growth bandwagon.
“Tony is a great guy and it’s so good to see someone else pushing the Central Coast,” the advertising guru said.
“I’ll never give up on the region; one day common sense must prevail and acknowledge what a sensational place we live in.”
Tony Denny in a Kombi at his $70 million classic car museum at West Gosford. Picture: Sue Graham
The Express Advocate understands Mr Singleton has pumped about $40 million into trying to improve Gosford, through various initiatives, over the past 20 years.
The billion-dollar brothers’ plans extend much further than a pie shop and office block for bureaucrats on the waterfront.
The old Brisbane Water County Council and Frogys site at Gosford is in major disrepair.
Mr Denny, who came back to holiday regularly on the Coast during his 24 years living in the Czech Republic, has revealed his full $190 million property development plans to boost Gosford and surrounding suburbs.
The Frogys site reflects the decaying side of Gosford’s CBD.
However, the fiercely private Mr Denny, said he was frustrated by the lengthy delays on development applications for Gosford projects before Central Coast Council.
“Look, we still have a good relationship with council, but we have some DAs in that are taking a little bit longer (in the approval process) than they should be. If things could move a bit quicker I’d be happy,” he said.
Millionaire developer Tony Denny, pictured at Bells at Killcare last week, is frustrated by DA delays at Central Coast Council.
The man who opened a $70 million classic car museum at West Gosford described Mr Singleton as the “modern-day father of Gosford”.
“If only the Coast knew just how much John does for the region,” Mr Denny said. “He doesn’t broadcast a lot of it. He’s really a silent achiever for the Central Coast.”
Gosford is in dire need of better promotion and a waterfront facelift, two of the region’s richest men say.
MR DENNY’S $190 million property development plans for the Central Coast involve 10 projects either under construction or in the planning process.
The 54-year-old Killcare Heights resident said he had already spent about $60 million in buying properties around the region “and then there’ll be another $130 million through the construction phase”.
The Express Advocate can today exclusively reveal Mr Denny’s latest project is a “high-end” development called Marina on the Point Frederick waterfront.
Magnificent waterfront views from Tony Denny's new "Marina" boutique apartments in Point Frederick.
“Marina is a boutique collection of just 29, two and three-bedroom residences of the finest architectural pedigree, elevating Point Frederick’s calibre of design to new heights,” Mr Denny said of the Lynn Ave development which will be officially unveiled on October 28.
Tony Denny's new "Marina" boutique apartments situated on the Point Frederick waterfront. They will be launched on October 28.
It follows the highly successful debut launch by his development company, Central Real, of the Vue apartments in Kendall St, Gosford. Working in conjunction with McGrath Estate Agents, the founder of the $70 million Gosford Classic Car Museum offered struggling firsthome buyers a $10,000 furniture voucher, a reduced deposit and an exclusive head start to buy a new apartment.
“This has gone gangbusters,” Mr Denny said.
“There has been strong interest from buyers, both local and from Sydney, with 80 per cent of the project now exchanged or deposited.”
Waterfront views from Tony Denny's new "Marina" boutique apartments in Point Frederick.
The project closest to Mr Denny’s heart is the former Country Comfort site, for which he paid $9.6 million last year — Terrigal’s highest residential development site sale in 15 years.
“The latest here is we’re demolishing at the site and we’ve bought two properties just behind it in Ena St, so there’ll potentially be further access there,” he said.
“We want to move our offices there because we love the site so much.”
The former Country Comfort site in Terrigal is shaded in red.
He considered building a hotel on the site, “but we just couldn’t make the numbers work”.
Mr Denny said he was preparing to sell his most controversial purchase, the Church St carpark in Terrigal, where he planned to put in a mixed-use development.
It sparked howls of protest from business owners, including a doctor’s surgery, over the impact it would have on the already tight parking situation in Terrigal.
“This has been a bit controversial,” Mr Denny said.
“We’ve actually decided to sell it. For me, it’s too much of a controversial situation.
“I do get the doctor’s perspective. I’ve meet with them countless times.”
Tony Denny with a 300SL Gulling 1955 at the opening of his $70 million Gosford Classic Car Museum earlier this year.
He has other property developments in the works in Gosford, including a 64-apartment block called Icon, as well as 30 high-end units called Scenic which are due for release in late January, and two townhouse sites in East Gosford.
At Point Frederick, a 45-apartment development called Aqua is planned for 142-144 Albany St.
“This will be extremely high-end luxury,” Mr Denny said.
PROPERTY hunters last week swarm ed to millionaire developer Tony Denny’s hot new residential project in Gosford.
The promise of a furniture package, stamp-duty exemption, government grant and a brand new trendy apartment left McGrath Central Coast flooded with interest from fresh-faced first-time buyers and savvy investors.
McGrath principal Jaimie Woodcock described the buyer frenzy as the most successful off-the-plan project he had ever come across with 70 per cent of the Vue complex now sold.
McGrath Central Coast agent Mike McGill with a first homebuyer of the new Vue development in Gosford.
“The results from the launch were definitely above and beyond our expectations,” Mr Woodcock said.
“It really shows the credibility that Tony brings to the table. Buyers really respect and believe in his success.
“The front-page story in the Express Advocate gave the project a great kickstart.”
The East Gosford display suite for Vue, the new residential development set for Gosford.
He said first-time buyers made up about 50 per cent of sales, followed by an equal number of investors.
“The strong interest from first-home buyers just shows they are a large sector of the market waiting to find the right property,” he said.
“View clearly resonates with first-home buyers in terms of affordability and location — especially when combined with the Freedom furniture package from the developer.”
The East Gosford display suite for Vue, the new residential development set for Gosford.
Mr Woodcock said with just 17 apartments left to sell and 700 inquiries already recorded, buyers keen to secure a spot should get in quick to avoid missing out.
“People are now very much accepting Gosford for its true worth as an investor hot spot,” he said.
FORMER used car salesman turned millionaire Tony Denny is helping to drive first home buyers into the Central Coast’s booming property market.
Mr Denny, who features on the BRW Rich List with a wealth of $333 million, is putting his money where his mouth is to help first-time buyers get a foot on the property ladder.
The founder of the $70 million Gosford Classic Car Museum is offering struggling first home buyers cash, furniture, a reduced deposit and an exclusive head start to buy an apartment in his latest residential development.
Construction of “Vue” is already underway in the heart of the Gosford CBD and first home buyers will get first dibs on 54 trendy apartments a week before investors and other property hunters come flooding in.
On top of the State Government’s $10,000 new property grant and stamp duty exemption, Mr Denny will halve the usual 10 per cent deposit to help first-time buyers secure an apartment.
He is also offering them the choice between a $10,000 Freedom furniture package or a $10,000 grant from the wealthy developer to help make their inaugural property purchase a little easier.
Believe it or not, Mr Denny had a tough time buying his first property many years ago before making his fortune.
“We’ve all been there, we’ve all struggled to get into the market as a first home buyer,” Mr Denny, who made his fortune from selling second-hand cars across central Europe, told the Express Advocate.
“When I was a father in my mid-20s I remember how hard it was.
“Central Real has made a decision to help first-home buyers into the market and we hope buyers will take advantage of this unique offer — the first of its kind on the Central Coast.
“We have kept our prices competitive and we believe in leaving some upside for the buyer.
“There is enormous growth potential in Gosford. We want our buyers to know they are buying a quality property with profit in it for them at the end of the day.”
Mr Denny’s development company, Central Real, is joining forces with McGrath Central Coast for the sales and marketing campaign launching today.
Property expert and founder of one of Australia’s most successful real estate brands, John McGrath, praised Mr Denny for putting the interests of young buyers before profit.
“It goes to the heart of Tony’s passion for the area,” Mr McGrath said.
“He’s not a developer looking to make a quick buck here. I think this says a lot about him — it’s not just some marketing gimmick, this is actually Tony’s genuine passion.”
Purchasers of off-the-plan apartments typically have to pay the balance of the apartment upon completion, and need to ensure they have finance in place from their lender.
For advice on buying off the plan visit fairtrading.nsw.gov.au
APARTMENTS DELIVER ON AFFORDABLE LUXURY
IMPRESSIVE water views, a flashy, fully-equipped gym and Feng Shui-inspired interiors are just some of the perks expected to entice savvy young buyers to the Vue development.
The promise of affordable luxury is also a major selling point for Generation Y property hunters, with prices starting from $380,000 for a one-bedroom apartment.
When factoring in $20,000 in grants and no stamp duty costs, first-time buyers can expect to save about $36,000.
“View offers first home buyers an enviable lifestyle just 200m from Gosford waterfront, restaurants and a short walk from Gosford train station for those commuting to Sydney for work each day,” Central Real sales and marketing manager Michelle Tucker told the Express Advocate.