Meriton heading higher at The Retreat

THE Meriton group, responding to accelerating sales, plans to lift the height of the latest tower in master-planned Sydney Olympic Park project The Retreat.

The building, the second elliptical tower in The Retreat’s initial stage, Aura, was intended to be 22 levels.

The Harry Triguboff-headed group is seeking development approval to take the tower to 33 levels, a move which would boost the number of apartments by 88 to 243 and offer buyers spectacular views.

The glass-faced apartments in the twin Aura towers have been designed to capitalise on views across Bicentennial Park and the Parramatta River to the Sydney CBD and the harbour bridge.

Meriton says Aura’s completed first tower, which is 22 levels, has met with unprecedented demand and is 95% sold including a top floor four bedroom penthouse for $2.270m boasting its very own rooftop terrace in the sky.

The Retreat masterplan, which will have 1400 apartments when complete, is the group’s biggest undertaking in a long and successful Inner West presence.

It is 650 metres from the Olympic Park train station, a 30-minute train ride to Central Station, and on the doorstep of the proposed Stage Two Parramatta light rail which when complete will shorten the travel time to less than 20 minutes and offer a more direct route for The Retreat’s residents.

The Retreat site is close to Botania, a recent sell out three-building mid-rise community with 321 apartments that Meriton completed in 2017.

Mr Triguboff yesterday said the demand for the lifestyle on offer within the Olympic Park precinct was ‘ever growing’.

“The Retreat, and what it offers its residents, is benefiting from that bubbling demand and we want to capitalise on that by offering buyers greater choice. We are pleased that first home buyers will have a selection of over 50 apartments valued under $600,000, ensuring that they benefit from NSW state government incentives such as no Stamp Duty and the $10,000 NSW First Home Owner Grant. The Retreat’s central location will ensure investors capitalise on strong rental returns.”

“We made a big commitment when we bought the Carter Street site for $245 million three years ago and we are excited to see our vision for the site come to life”

Meriton bought the 5.17-hectare site, at 5 Carter Street from the Goodman Group in 2015.

The Retreat will boast a 2000sqm park as its centrepiece and residents have quick access to the vast areas of parkland at Olympic Park.

The project is to have an elevated podium garden and recreational zone featuring table tennis, bocce lawn, dining pavilions and barbeque area, available exclusively for use by residents. Residents will also enjoy access to a retail area anchored by a major supermarket, and resident resort-style facilities such as an indoor lap pool, gymnasium, sauna and spa.

Meriton says the apartments in the planned 33-level tower will range from one-bedroom layouts through to four-bedroom penthouses with rooftop entertaining areas.

All apartments are framed by striking floor to ceiling glass windows with some apartments featuring large study rooms of bedroom-sized proportions, semi-enclosed balconies and corner positions ensuring they are bathed in natural light.

Boasting premium finishes including SMEG kitchen appliances, Caesarstone benchtops and frameless glass.

An exclusive penthouse collection, with bespoke finishes, enjoy their own private rooftop terraces with pergola, turfed area and BBQ facilities

Prices will start at $500,000 for one-bedroom units, $760,000 for two-bedroom ones, and $1.025 million for three-bedroom apartments.

Prices have not been set for the penthouses.