Buyers are making their decisions based on a developer’s reputation and track record, says Cbus Property’s CEO, Adrian Pozzo, as The Langston at Epping emerges from the ground.
The Langston, a triple-tower residential apartment project located 100 metres from the station, is currently being developed by Cbus Property.
Upon its completion in the third quarter of 2021, The Langston will feature three towers of 19, 24 and 29 storeys, and will include a mixed-use precinct comprising 2,500 sqm of retail space and 2,750 sqm of communal open space.
Pedestrian links will connect The Langston with Parramatta Council’s revitalised public library, the
revamped Pembroke Street Park and other recreational facilities.
Pozzo is optimistic about the resurgence in buyer confidence since the federal and NSW state elections, which he is seeing play out at The Langston.
“We’ve definitely seen confidence return to the ranks of purchasers in the Sydney market, particularly at Epping,” Pozzo says, adding that 30 apartments at The Langston were sold in the last three months of 2019.
“As it stands, we’ve now sold more than 50 per cent of the 192 apartments in The Langston’s first release, Langston Tower.”
The quality of The Langston’s apartments and the credentials of the project team are key differentiating factors for savvy buyers, Pozzo adds. Another factor is community consultation.
“At Cbus Property, we’re conscious of the role a project such as The Langston will play in the future of Epping, and that’s why we undertake regular community consultation.”
Hutchinson Builders, Australia’s largest privately owned construction company, is the building contractor, and managing director Greg Quinn says the project is “right on schedule”.
“To date we’ve removed more than 40,000 cubic metres of rock and soil from The Langston site, with only 10,000 cubic metres still to be excavated,” Quinn explains.
“We currently have more than 100 local workers on site, and this figure is only going to grow as the project ramps up.”
Quinn says buyers “now need an extra layer of assurance before making a purchasing decision”, and his team is committed to peer reviews.
“We are dedicated to a quality build and this is why we engage independent third-party consultants to look at structural and building services designs to ensure the project results in a quality new home for purchasers.”
Cbus Property is a wholly owned subsidiary of Cbus, the industry superannuation fund for the construction, building and allied industries, and has a portfolio exceeding $4.9 billion. A further $5 billion of development work is in the pipeline.