[CAN] New Mayfield | 41-61m | 11-17lvls | Mixed Use

[Waewick]

I have to admit, I'm shocked this one has got off the ground.

very interested to see how it goes, could really be a game changer in that part of the city.

[SRW]

A bit early to say it's off the ground. I'm interested to see how it goes too, given the catalyst it could prove for the south-west quarter. But I think they'll struggle to gain momentum with what they're offering so far.

[thoughtfactory]

"There is some movement on Sturt St--they are renovating a section of the old Mayfield building --inside and outside. Its on the corner of Sturt St and Meyers Lane. Anyone know what this renovation means? An office for the builders to work in?"

It is a sales centre, as you suggested Nathan. They had an opening party (for real estate agents? or "registered VIPs") on Monday night.

[Shahkar]

Display suite is now open at 43-69 Sturt Street as informed by thoughtfactory. I would love for this project to go into the construction phase.

Also, some new renders up on their website.

[jk1237]

I love those renders. Looks very stylish.

Now I need to work out which development is which, but I work in the Optus building and the view over this is shows already quite a large construction, more at the Wright Street end

edit...hang on, isn't Mayfield in between Sturt and Gilbert Streets. I know there is a low cost housing project in between Sturt and Wright, but this site looks huge. Is there more than 1 development going on here, Ive lost track

[DaveAdl]

I love those renders. Looks very stylish.

Now I need to work out which development is which, but I work in the Optus building and the view over this is shows already quite a large construction, more at the Wright Street end

edit...hang on, isn't Mayfield in between Sturt and Gilbert Streets. I know there is a low cost housing project in between Sturt and Wright, but this site looks huge. Is there more than 1 development going on here, Ive lost track

Mayfield is between Sturt & Gilbert Streets with Ergo being between Sturt & Wright Streets

[Ben]

City Mayfield development will go ahead

by:
Tim Williams

From:
City Messenger
June 14, 2013

THE developer behind one of the city's largest and most contentious residential projects, the New Mayfield between Sturt and Gilbert streets, is confident all three stages will be delivered.

Developer Sturt Land officially launched the project last weekend.

Construction was initially intended to start early this year after planning approval last June. But a lack of action on-site led nearby residents to speculate the project had stalled.

Some residents had rallied against the scale and height of the $250 million, 427-apartment project, which is set to include buildings of five, 10 and 14 storeys.

Stage One is the 10-storey building with 108 apartments fronting Gilbert St.

Sturt Land director David Bertram said about 730 potential buyers had registered their interest since marketing began last year.

He was "very happy" with the number of pre-sales, which he would not disclose, but said 60-70 per cent of apartments would need to be sold in each stage before building could start.

He was confident the site would be cleared by the end of the year, that work on Stage One would begin by January and that the whole project would be delivered.

"I haven't got a crystal ball (but) if the market isn't taking it up we'd be pretty disappointed," he said. "I'm pretty comfortable we'll get all the way through."

The delay was due to work on issues including design, contracts, and land titling, not lack of interest Mr Bertram said.

"All those things take time and they need to be thought through."

Stage One will include a ground floor gym and cafe, with apartments priced from $350,000 to $700,000. Future stages will have a swimming pool and "village square" with public art and water features, 86 new trees and a communal garden.

The developer and the State Government have committed to a $6 million upgrade of Sturt St between King William St and Whitmore Square, including wider footpaths and bike lanes, should stages two and three proceed.

New Mayfield was the first "catalyst site" project to be approved under planning changes allowing height restrictions to be waived on sites of more than 1500sq m.
Sturt Land was formed by SA builder Tagara and Melbourne developer Colvid.

[Shahkar]

Now on Real Estate as well.

http://www.realestate.com.au/project-ne ... -600002595

[phenom]

I like the individualised protest by the townhouse closest to this site on Gilbert Street - they have a banner on their roof quoting something about poor investment returns on off the plan purchases

I didn't realise the part of this project that touches Gilbert St was supposed to be 10 stories? All the pictures I've seen (renders admittedly) seem to show something more like 5 or 6 levels.

[Nathan]

The Gilbert St building is 10 levels, but set back above the 4th floor.

[Ben]

I went to the display suite on friday night (it was open late until 9).

The agent was quite confident about construction of Stage one starting in December. He said they had sold roughly 15% and lots of interest from retirees.

[Dvious]

Not too bad for only just being released. Is that 15% of stage 1 or the entire project.

[Ben]

Only Stage 1 is for sale as far as I know.

[AdelaideGo]

Are you serious? only 15%?
15% of stage 1 is only 17 apartments, and they have already been marketing it since June 2012.
At this rate, they will reach their pre-sales target of 70% in year 2017.
I thought the developer said that he is confident that construction will start by end of this year.

[Ben]

Are you serious? only 15%?
15% of stage 1 is only 17 apartments, and they have already been marketing it since June 2012.
At this rate, they will reach their pre-sales target of 70% in year 2017.
I thought the developer said that he is confident that construction will start by end of this year.

The project has only been selling apartments for 3 weeks. Using acurate mathematics (knowing full well real estate market does not work in this way) that would mean 18 weeks until 100% sold or 4.5 months. This paints a much more positive picture.