Mackay’s Rivermarque reports record sales
Half of apartments sold in first six months
February 19, 2013
Mackay’s Rivermarque development, which offers a new standard in modern accommodation in an acutely under-supplied market, has generated investor interest well beyond expectations after only six months on the market.
In a significant milestone for Mackay’s burgeoning CBD, already 50 per cent of the Reed Property Group-developed apartments at Rivermarque have sold to date. Moreover, the development is now under construction, becoming one of the first high-rise to grace the skyline of Mackay as part of the current building boom.
Ken Reed, Managing Director of Reed Property Group, shared sales figures that reflect the swift and strong interest in the property from interstate investors and local buyers.
“In my years of experience in real estate development, I’ve only seen a handful of projects attract the level of interest we’ve seen in Rivermarque,” Mr Reed shared.
“We’ve already seen almost $20 million worth of sales in just the first six months, with no sign of this trend slowing. We believe this is largely due to the continued expansion of the Mackay economy supported by impressive statistics including the creation of 5,600 jobs last year and the $94 billion slated in new development for the region.”
Mr Reed also noted that statistics show local Mackay residents are just as supportive of Rivermarque as interstate buyers.
“We are delighted that about 30 per cent of the apartments in Rivermarque have sold to the local market. This reflects a vote of confidence in both the local market and, more specifically, our project and its potential to generate maximum returns for investors,” he said.
“I believe the key to our success is the development’s strong forecasted investment yields of up to nine per cent per annum, delivering cash flow-positive returns.”
Mr Reed also announced an added incentive to investors. For a limited time only, Rivermarque is offering a seven per cent net rental guarantee for five years. Reed Property Group will cover all owner costs during that period, including rates, body corporates, and management and letting fees.
Situated in the heart of Mackay’s CBD with views over the Pioneer River, Rivermarque offers 91 apartments, a combination of studios and one- and two-bedrooms, all featuring at least one secure carpark. On-site facilities include a gym, outdoor pool, spa and BBQ area, along with ground-floor retail and hospitality amenity.
Studios start from $271,000 and the remaining one-bedroom apartments are priced from $304,500, with the two bedrooms from $391,500. Construction is due for completion in mid-2014.
Rivermarque apartments are available for purchase now, to be settled in mid-2014. The new sales office is open by appointment only; contact Jo Townsend on 1300 739 329 for residential and retail enquiries.
For more information on Rivermarque, visit www.rivermarquemackay.com.au.
Ends.
Media contact: Maya Gurry – Fresh PR & Marketing
P: 0410 109 102 E: maya@freshprm.com.au
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