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

[AdelaideGo]

That is

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.

That is what the developer would like you to believe, just like the Central Adelaide guys wants you to believe that they have sold 135 apartments in 2 months.

Please take a look at the post by our member sleepy on Thu Jun 21, 2012 3:16 pm, it has started marketing back then. Over a year already.

[Ben]

I'll take it as marketting when the display suite and the official launch of project is announced (a few weeks ago) thanks, not when it is approved.

[AdelaideGo]

I'll take it as marketting when the display suite and the official launch of project is announced (a few weeks ago) thanks, not when it is approved.

With all due respect (as you are the elder in this forum), your statement is a little naive. Marketing doesn't start with showroom, showroom is the icing on the cake. Lot of social connection, phone calling has already happened way before the showroom.

In the editorial that they posted back in June 2012, it has the following statement at the bottom.
"For sales enquiries regarding New Mayfield, please contact 1300 761 479 or visit http://www.newmayfield.com.au.
I consider this marketing already.

[Nathan]

The problem with counting the marketing a year ago, is that they went quiet for quite a long time. I know that I registered when it was first announced and had a follow up call the next day, and then...nothing. In the mean time, I bought something else. Given the break, they're really starting from scratch again with the new showroom/marketing.

[AdelaideGo]

The problem with counting the marketing a year ago, is that they went quiet for quite a long time. I know that I registered when it was first announced and had a follow up call the next day, and then...nothing. In the mean time, I bought something else. Given the break, they're really starting from scratch again with the new showroom/marketing.

I have registered and am one of the 700 plus "interests" that they have got, but I have never received any followup call, only their ocassional newsletter.

Please don't misunderstand me, I want them to be successful too. We need more high density apartments in our city to increase the CBD population to reach a critiacl mass.

[Nathan]

I have registered and am one of the 700 plus "interests" that they have got, but I have never received any followup call, only their ocassional newsletter.

I registered the day that the original site went live, and had a call the next day. Was told they'd send me out some material, but never received anything. My guess is that they probably jumped the gun when first announced, realised after a couple of days, and froze things until they had the proper go ahead.

[Will]

According to the project's website, 33 apartments have now been sold. This represents almost 31% of all apartments. An additional 15 apartments are 'on hold'.

[thoughtfactory]

Any more news on this? It seems to have gone quiet again. Wasn't it expected to start construction in February, with increased interest following the federal election?

[Will]

Update from the website suggests 39 apartments have now been sold, representing 36% of all apartments. An additional 27 apartments are on hold.

[Jaymz]

I'm a long time viewer of these forums, finally got around to joining. Been living in the CBD for the past 2 years.

I have a vested interest in the New Mayfield development, as I have put down a deposit on one of these apartments
late last year. I drop into the sales office every couple of weeks to get the latest on how it's moving along and
get the latest news.

As of today, there are 55 apartments either sold or on hold...that is not including the whole of level 2 that went on hold
a while ago. I was informed a few months ago that level 2 is being held by the developer, but are made available to
customers if the demand is there. At this stage the 1 bedroom apartments are in highest demand and so a few have been sold.

Anyway, hope to keep you posted on this as it happens and include some photos. The word is that with the current sales, demolition
of the existing site could commence in the middle of this year. Cheers.

[Phantom]

Awesome work, Jaymz. Welcome to Sensational Adelaide. Your message makes me feel a lot more confident that this project will indeed go ahead as planned, we find that a lot of these sorts of developments will have 6 months worth of information, and then suddenly the trail becomes cold and the idea turns out kinda stillborn. I really hope this one doesn't. I've always loved the idea of a lot more height in the southern half of the CBD.

Nut yeah, feel free to keep us posted with whatever information you can about this development. It would be nice to find out the exact height and approx date of starting construction on this one.

Cheers! And again, welcome to the forum!

[Jaymz]

Well thanks Phantom, and will do.

I am very confident that stage 1 or "New Mayfield House" will go ahead in the very near future. I can't speculate
on stages 2 and 3 (Granary and Light House), but at best I would imagine the whole development would span over a period
of 5 years or so. Will be interesting because of the larger amounts of supply coming online in the next couple of years.

[thoughtfactory]

What happens to the deposit if the development doesn't go ahead? Is it fully refunded? Or only partly refunded?

[Jaymz]

The deposit is paid back in full if it doesn't proceed.

Don't worry, I took the contract to a property lawyer to be looked over before signing up, and that was my first question! And I would always recommend this to anybody buying off the plan.

[Jaymz]

NewMayfield.jpg (97.93 KiB) Viewed 5331 times

New signage installed on fence facing Gilbert Street (Wicked Van compound). I walk past this most days so must have been done
very recently. Currently 59 apartments sold or on hold out of 108 for stage 1.