ALAND sell 60% of latest Schofield Gardens stage
Prominent Western Sydney developer ALAND has sold more than 130 apartments in its latest release in their Schofields masterplan, Schofield Gardens,
First home buyers and investors have made up the majority of sales in Jasmine, the seventh release in the Schofield Gardens community. The six other stages – Bottlebrush, Wattle, Frangipani, Pandorea, Lotus, and Breynia – were each sold out prior to completion.
Schofield Gardens first stage was launched in 2020 and on completion will provide housing for around 4600 residents.
ALAND Founder Andrew Hrsto says the sales results at Schofield Garden’s latest release are a result of the historical success of the development and reflect the current high demand for new, affordable housing across Sydney.
“Since we first launched Bottlebrush in 2020, we have sold and settled 1000 apartments to date,” Hrsto said.
“We have long recognised the need to provide attainable housing to the market, particularly when there is such limited stock at these price points currently available.”
Jasmine consists of one, two, and three-bedroom apartments across three buildings ranging in height from four to five storeys.
Prices range from $475,000 for a one-bedroom apartment, $585,000 for two bedrooms and from $735,000 for three bedrooms, a price point Hrsto says makes the development appealing to first home buyers, investors, couples, families and downsizers.
“People see ALAND as not just delivering value for money, but also a quality product within a welcoming community,” he said.
“Jasmine presents an opportunity for both owner-occupiers and investors to secure a property in an area with huge potential.”
Apartments offer generous ceiling heights, air-conditioning, energy-efficient Fisher & Paykel appliances, LED lighting quality fittings and floor-to-ceiling glazing delivering abundant natural light.
There's a communal courtyard with playgrounds and rooftop amenities including BBQs, exercise spaces and kids’ soft-fall play areas, plus electric vehicle charging stations in the basement.
ALAND Head of Sales Scott Rudgley said the sales he’s seen at Jasmine aren’t surprising given recent NAB data showing that Schofields tops the list of first home buyer hotspots in NSW, with more than 60 per cent rise in demand during the previous year.
“Schofield Gardens is one of the major drivers for the suburb’s extraordinary jump in first home buyer activity as our apartments are often eligible for government assistance,” Rudgley said.
“ALAND has helped to transform Schofields into a dynamic new community and we are immensely proud of that achievement.”
Despite its short existence, Schofields already boasts a good range of schools, parks and transport options. Nearby Schofields Village offers a childcare centre, supermarket, cafés, and a pharmacy.
Transport options include an upgraded rail connection to Sydney CBD and Parramatta, while the Metro North West Line runs from nearby Tallawong Station to Chatswood, with the extension to Sydney CBD to open in 2024.
Rudgley says demand to date has been driven by first-home buyers hunting for affordability, with investors appreciating the fact that property in Schofields continues to outperform the rest of NSW and a strong growth forecast – Blacktown City Council predicts 8,000 new residents every year until 2041.
“We’ve seen apartments in Schofield Gardens rising in value since 2020, with compound annual growth of 6.3%,” Rudgley said.
“As well as capital growth, we’ve also seen median weekly rents rise by an extraordinary 38%over the past three years, while gross yields continue to track at a record 4.86%.”
Construction of Jasmine stage one is expected to commence by late 2023 with the project due to be completed by Q1 2025.