Downsizing has become an increasingly popular option for many looking to simplify their lives. But while they may be looking to downsize, they still desire the creature comforts and amenities they’ve grown accustomed to.
There is also an increasing demand from some downsizers for a project that keeps them in their community.
Akoya Greenwich, a luxurious development on Sydney’s North Shore, is one example, with 85 per cent of the building already sold.
The boutique over 55s building comprises 39 apartments with unparalleled views over Sydney harbour and has been inundated with interest.
“We’ve had a really strong start to the year with $20mill in sales already,” Alceon Development Director Todd Campling said.
“Already 85 per cent of Akoya has been sold mainly to downsizers from nearby homes on the North Shore with the average age of buyers being in their early to mid 60s.
“They’ve taken comfort knowing they’ll be living with like-minded individuals and they’re attracted to the lifestyle that’s on offer here.”
Mr Campling said many of the purchasers visiting the project’s display suite nearby can look out over the view and point to their homes.
“It gives them great confidence in knowing that they’re still staying within the same community,” he said.
For retired IT executive, Michael Ryan, 67, who will move into a three-bedroom apartment in Akoya with his wife (who live just 1km away), the option to downsize in a project designed for over 55s resonated.
“We are active retirees looking forward to sharing the facilities and experiences with other like-minded over 55’s while remaining in Greenwich and close to family and friends,” he said.
“We currently have a big family home with a pool and lots of gardens and the maintenance and upkeep of that is becoming physically more demanding and time consuming.
“We’re looking forward to the quality facilities specifically the library, BBQ areas, wine cellars and as an avid golfer I’m most keen on the golf simulator!”
Mr Campling said the suite of amenities has been a key drawcard for the project.
The boutique complex has more than 700sqm of residents-only amenities including an on-site concierge, in house bar, private library, golf simulator room, cinema, rooftop retreat with firepits and an infinity pool overlooking the Sydney Harbour Bridge.
“We also have private office spaces on a separate title available for purchase as well, in a concept never seen before here in Sydney,” Mr Campling said.
“Our buyers may be aged over 55 but they’re not all ready to retire and with many being captains of industry they’re looking for a space where they can continue their work.”
Akoya is made up of 39 apartments including 3 one-bedroom apartments, 14 two-bedroom apartments and 22 three-bedroom apartments.
The development is designed by award winning architects Marchese Partners and is a partnership between private investment group Alceon and NGS Super. The building is being built by Stevens Construction with top-end finishes with construction expected to be completed by July.