The grand opening of the Omnia apartment building
Greenland Australia recently completed the Omnia apartment building. The new architectural development presents a unique curvaceous façade in the world-class position of Potts Point.
The 26th of November marked the Grand Opening of the $320 million, 20-storey Omnia apartment building. The Right Honourable Lord Mayor of Sydney, Clover Moore, joined Greenland Australia’s managing director, Sherwood Luo for the official opening.
The event was attended by stakeholders including construction partners Probuild, architects Durbach Block Jaggers, SJB, Studioaria and Sierra Property Com, Managing Director Leor Shavel who attended on behalf of the settlements team.
The property market has been experiencing a volatile downturn over the last couple of years which has seen many off-the-plan apartment buyers finding their settlement valuations falling short of the price they originally paid, leaving them scrambling to fund the shortfall themselves or having to refinance altogether.
Most buyers in the Omnia Development experienced valuations that remained the same. Having reached out to buyers, over 80% advised their banks' valuers reported that the current valuation was the same as their purchase price.
Leor Shavel, Managing Director, Sierra PropertyCom stated, “We are very pleased with these results because as a settlement service, we go to great lengths to mitigate risk for our clients and their buyers. Creating a seamless buyer experience is what we strive for and with Omnia, on inspecting their apartments, our buyers advised they were very happy with the quality of construction and fittings and fixtures.”
Omnia has a number of unique points that have undoubtedly added to its value and help retain prices. Its exemplary position, ideally located between Victoria Street and Darlinghurst Road, places the development in the centre of all the action. The high level of construction quality demanded from Greenland when it comes to finishes and detail have also resulted in a very high-quality product which has been reflected in the property valuations provided.
If you would like to find out more about our settlement services get in touch.