Developments For Maroubra

Sydney Morning Herald

Friday May 6, 1994

Maroubra units have slowly increased in price over the past two years.

The average auction price from 44 auctions, with a 61 per cent clearance rate was $153,000 in 1992. In 1993-94 the average price was $163,400 from 80 auctions, with an 89 per cent clearance rate.

The average private treaty price from 115 sales was $160,600.

A two-bedroom unit at 1/843 Anzac Parade sold in July for $161,500 and a two-bedroom unit at 5/873 Anzac Parade sold in September for $163,500.

Top prices for the suburb have been found for a unit at 7/108 Marine Parade which sold in August for $375,000 and a three- bedroom unit at 3/44 French Street which sold last month for $325,000.

Lower priced units have been found at 7/45 Bond Street where a one-bedroom unit sold in December for $126,000 and at 3/62 Marine Parade where a unit was sold by private treaty for $96,000 in October.

Two Meriton Apartments developments are under way for Maroubra.

The company recently paid $14 million for a 11,000 sq m residential site at 116-132 Maroubra Road, on which it will build two towers comprising 270 units

Alma Court, at 818 Anzac Parade, is an eight-storey block of 51 apartments which is to be completed by the end of the year and is being marketed by the Li and Fung Properties sales manager, Geoff Carroll.

So far there have been 14 sales including a three-bedroom penthouse with views of the city, sold for $470,000.

Other sales have included a two- bedroom apartment on level eight for$225,000 and a two-bedroom unit on level six which sold for $335,000.

The 17 one-bedroom apartments available are priced from $195,000 to$270,000. They have balconies and two have private courtyards. There are two floor plans, offering either enclosed or open plan kitchens, and they all have internal laundries.

The 32 two-bedroom apartments are priced from $260,000 to $400,000. All have ensuites and again have the option of open or enclosed kitchens. There is one two-bedroom apartment with a courtyard and it costs $290,000.

There is one three-bedroom apartment left on level eight, with views of the city. It is priced at $500,000.