A new benchmark for luxury urban living has been confirmed for the in-demand Chatswood market following development approval for a striking new 24-level tower from national developer Goldfields.
The Bryson, a 70-unit residential and commercial tower designed by Make Architects, is one of the first approved developments under the Chatswood CBD Planning and Urban Design Strategy. Agents are already fielding wide-ranging demand, with onsite demolition due to commence April.
Designed to strike an ideal balance between city living and quiet retreat, The Bryson will incorporate a mix of 1, 2 and 3-bedroom apartments each with open plan living spaces, expansive balconies, textural materials and lush greenery.
CEO of Goldfields, Lachlan Thompson, said approval of The Bryson marked a significant milestone for the increasingly diversified developer and its growing pipeline of projects.
“Sydney’s Lower North Shore has become one of the most sought-after places to live and work in Australia and we see this trend continuing well into the future,” Mr Thompson said. “We saw an unmissable opportunity to bring high-quality mixed-use residential space to an area that is demanding it.”
Chatswood sits at the commercial and residential heart of Sydney’s Lower North Shore, just 8km north of Sydney’s CBD. The Bryson is situated just 400metres from Chatswood Railway Station and the iconic Westfield Chatswood shopping centre. The Willoughby City Council population forecast for 2023 is 78,783, and is forecast to grow to 87,415 by 2036 – representing 10.96% growth.
Ian Bennett, Director of Residential at Colliers, said the Chatswood market was going from strength to strength.
“With the launch of The Bryson, this has been the first time in about five years that an apartment project of this scale and calibre has been brought to the Chatswood market from an off the plan perspective,” he said.
Mr Bennett said the Bryson was already around 30%, or $25million, sold at launch, an indication of the strong demand for apartments in the Chatswood market.
He said in the last 18 months, sales activity was driven by downsizers and families purchasing three-bedroom, premium apartment stock as an alternative to increasingly expensive existing residential housing.
But early activity in 2023 has seen one-and two-bedroom apartments proving just as popular, with sales at The Bryson spanning a diverse range of product purchased by a wide range of local buyers including first homebuyers, young executives, downsizers and investors. There has even been early interest from FIRB purchasers.
“At one stage last year, the price gap between existing houses and apartments was over 100%,” Mr Bennett said. “Traditionally, it’s around 40%. It has probably come back to about a 70% gap this year, but still there is a long way to go for that gap to get back to what we would call normalcy. This shows just how much value for money there is in off-the-plan at the moment compared to existing residential and we are seeing this on the ground in Chatswood.”
Current and prospective buyers were drawn to Chatswood’s close proximity to the CBD and major universities, strong transport connections and growing infrastructure pipeline.
“A lot of the people that we are speaking to are wanting to upgrade, or right-size I guess is more accurate because they’re not of retiree age,” Mr Bennett said. “These are people who currently live a little further up the train line, up the Pacific Highway in places like Pymble, Turramurra or Lynfield, and they are looking to be more central. Chatswood is almost like a city now, so they see the area as being almost the town centre. The new Metro coming through is seen as a real advantage too.”
Simon Lincoln, Asia Pacific Director at Make, said The Bryson’s striking vertical form would be “a great addition to the Chatswood skyline and deliver beautiful living spaces, prioritising wellbeing for residents with a real focus on space and amenity”.
Exclusive Skyhome and Penthouse residences will feature walls of operable glazing between expansive open plan living spaces and generous balconies, providing panoramic views while retaining privacy.
A pool terrace with rooftop gardens, outdoor furniture, barbecue facilities and sweeping views across the surrounding Chatswood CBD enhances the feel of an urban resort. Ground floor retail will act as a threshold between the vibrant Chatswood neighbourhood and the private residences above. Strata office suites will be located on level 2 and 3.
For more information or to register interest, visit https://thebryson.com.au/