The cranes have moved in and work is well and truly underway on the long-awaited Archibald development on the old Union Hotel site in Gosford.
Made by Raimondi, the cranes were imported by developer ALAND from Italy, specifically for the Archibald project, which is expected to be finished by the end of 2024.
Buyer interest in the $375M mixed-use development has been very strong with two-thirds of the apartments sold since designs for the project were unveiled to the public earlier this year.
ALAND acquired the 5,656sqm site fronting Mann, Donnison and Baker Streets in June 2022 and plans to build 323 residential apartments and penthouses, plus a 130-room hotel and multiple food and beverage offerings, including a SkyBar and Lounge on Level 28.
ALAND CEO George Tadrosse said the strong sales performance aligned with the company’s long-standing confidence in the future of Gosford, a regional hub that was benefitting from substantial investment in its educational, transport, medical and tourism infrastructure.
“This development is without peer in Gosford, offering an unmatched level of amenity and potential for capital growth that would be impossible to find at this price in Sydney,” he said.
“Residents will enjoy a five-star hotel lifestyle, with resort-style facilities and will be just minutes from the waterfront, national parks and the Central Coast’s iconic beaches.”
Tadrosse said the specialist imported cranes used hydraulics rather than cables to raise and lower the jib.
“They are very safe, as well as being a lot more energy efficient,” he said.
“They are also capable of reaching up to 140m, which is 30m above Archibald’s highest point, so they are exceptionally tall.
“Until August, our local sales team concentrated on the Central Coast owner-occupier market, including first home buyers – and the response was immediate.
“First home buyers … are taking advantage of the various government housing schemes, such as transfer duty relief, now available.
“But once we started running sales events with our Sydney agents, we discovered a large demand from Sydney investors in this high-growth area.”
“Many of our Sydney buyers are investors who have purchased from ALAND before, capitalised on their investment and have confidence in ALAND as a trusted builder-developer.”
Tadrosse said ALAND was proud to be playing a part in the transformation of Gosford, set to be boosted by such projects as the new University of Newcastle campus, a new TAFE NSW campus and the expansion of Gosford Hospital.
He said ALAND would contribute much-needed employment to the growing local economy.
“When completed, this development will provide much-needed housing with up-scale hotel accommodation plus a vibrant bar and dining precinct, making Archibald the most sought-after lifestyle destination on the Central Coast,” he said.
For more information visit www.archibaldbyaland.com.au