Why we're onto our third ONE The Waterfront apartment in Wentworth Point: Urban Buyer Q&A
It was a move back to Sydney that prompted entrepreneur Brett Boyle and his wife to secure an apartment in Piety Group's Wentworth Point development, ONE The Waterfront.
Following a two-year stint living in their Blue Mountains home during COVID, the couple returned to the city, and rented an apartment in ONE The Waterfront, the most recently completed building in Piety's waterfront precinct. They went on to buy a two-bedroom apartment in the same building.
Now with a baby on the way, the growing family decided to upsize, selling their apartment for a healthy eight per cent gain and staying put in ONE The Waterfront, buying a three-bedroom unit.
Boyle says the couple have lived on and off in Wentworth Point for the last decade or so, given it's where his parents reside. So when it came time to head back to the city, Piety's nine-building community offered a rare opportunity to live in a near-new apartment in an area they knew well.
"We looked at buying an apartment when we first made the move back to Sydney, but we decided initially to rent within the precinct, to make sure it was the right fit for us," Boyle, who runs the business consultancy firm RiseUp, told Urban.
"Within six months, we bought in the same building."
Boyle says they were impressed with the quality and the level of detail in the project.
"We were confident in both Piety's track record and what we'd physically lived in and owned. We had no problem committing to upsizing within the precinct knowing what we know about the developer," Boyle says, adding that he's now recommending to his family and friends to buy into the project.
"It has a real community-vibe, with the extensive resident amenity meaning you can socialise around a swimming pool or a barbecue area without having to travel far."
On top of the resort-style pool and barbecue areas, residents of ONE The Waterfront have access to a fee free commercial gym, tennis courts, and outdoor rooftop cinemas. There is also CLUB ONE, a community centre that includes another private cinema.
Boyle also noted the extended level of care from the Piety team, who are still actively involved in the development well past its completion.
"It's not a case of them selling the apartment and moving on. Piety continue to maintain a high-level of customer experience. The building managers do a very good job of maintaining the project."
Boyle took advantage of the generous incentive which was on offer when he bought the three-bedroom apartment, securing free strata levies for two years.
Laver Residential Projects saw a huge uplift in interest since they released the incentive earlier this year. The incentive is still available for a limited time.
First home buyers have also shown significant interest since the NSW Government signed off on the changes to stamp duty. Now a first home buyer won't pay any stamp duty when buying an apartment in ONE The Waterfront, given the most expensive three-bedroom remaining is priced at $1,109,000, well below the new $1.5 million cap.
Late last year Piety submitted plans for the final two towers in the waterfront precinct, which they started developing back in 2010.