Tony Denny and John Singleton just drew everyone’s attention to it.
“The close proximity of the Central Coast to Sydney is definitely one of its key advantages,” Mr Faulkner said.
“The location is perfect for commuters. For example, in peak hour it is quicker to drive from Gosford to the CBD, than to travel from Manly into the city. The quality of life we have here is desirable in so many ways it was only a matter of time before the investors really caught on.”
John Singleton’s flagship development Bonython Tower seems to have been the catalyst for the boom currently being seen in the Gosford CBD. When Gittoes was awarded the contract to exclusively sell the units in Bonython Tower in February 2017 it was always going to be an exciting time.
When one of the two penthouse apartments recently re-sold for $1.6M to a local couple who initially looked at purchasing off the plan, it was an indication that the finished product is often even better in real life.
Well-renowned architects are lending their name and work to these large developments and as design conscious buyers relocate from Sydney or purchase investment properties and holidays homes, this high caliber of new local residential development is increasing in demand and popularity.
The strong growth of Gosford has been recognised by the unprecedented infrastructure investment from the State and Federal Governments.
The $1B pledged by 2021 is part of the Government’s commitment to promoting Gosford as the Central Coast’s CBD. Population growth is outpacing residential development, bringing with it enormous opportunity for those willing to take it.
Key role
Gittoes have played a key role in this boom. All the properties they have sold, settled and currently manage have been leased to good quality tenants from a wide cross-section of areas including the Central Coast, Sydney and even outlying as far as Newcastle.
They are fielding strong rental enquiries from the business and medical sector. Gosford Hospital’s recent $300M re-development, the new large training facility being built, the ATO building and the State Finance Department all have contributed to this demand. This expansion of skilled local workforce drives the need for quality housing.
Located at 277-279 Mann Street opposite Gosford Train Station on the CBD side, Gosford Central is the work of EQ projects and is due for completion in mid-2020.
More than 80% of available units have been sold and there is still interest in the remaining few. A display suite is soon to be set up on location, and this will be a great chance for potential purchasers to look at the quality design and finishes.
On the other side of the train station at 18 Hargraves St is the newest of Gittoes developments for sale, ‘Crestview’. This complex of 60 units is due for completion in 2022.
Right next door at 6-16 Hargraves Street is Skye Apartments which is due to be finished and settled by the end of 2019. These developments are in a central location and take advantage of the excellent amenity provided in the Gosford CBD.
The affordability and commutability of Gosford are definitely the two strongest arguments as to why investors should be – and are – flocking to the region. Also, it’s been 20 years since the last commercial spaces were built in Gosford and now many commercial businesses are choosing to this area as their home base.
Principal of Gittoes Mr Stephen Gittoes sums it up perfectly. “After 30 years selling property on the Central Coast, we see this as the changing face of Gosford. It has had many false starts over the years, but this is it!”
“Why don’t you see for yourself?”
For more information about great and affordable investment opportunities, look at the advertisements in this issue, or contact Richard Faulkner.
Text INVEST to 0429 272 020 for a comprehensive WebBook on the progress of these developments in Gosford. Phone: 0414 960 479. Email: richardf@gittoes.com.au
