Gosford’s great boom: Residential living’s newest hotspot

Gosford is entering an exciting new chapter as a $375 million residential development begins the final phase of its construction.

Once known as a sleepy coastal town on Sydney’s Central Coast, Gosford is undergoing a radical transformation as it emerges as one of the most affordable and liveable cities in New South Wales.

In recent years, Gosford’s city centre has been undergoing an extensive revitalisation program as the Central Coast region maps out a long-term vision for the continued development of the area.

Located between Sydney and Newcastle, this vibrant coastal city is cementing itself as a residential hotspot thanks to new infrastructure planned for the area. With endless stretches of beach, pristine waterways ideal for kayaking or swimming and stylish coastal townships on its doorstep, Gosford is giving other coastal cities a run for their money.

Gosford is also home to a number of massive developments, including the new $63.8 million University of Newcastle campus and the newly completed $348m Gosford Hospital redevelopment, which are helping revive the local Gosford economy.

The place to be

Economic modelling suggests that Central Coast’s population will surge by 100,000 over the next two decades as Gosford’s economy gathers pace. Demand for new housing will also strengthen, with 32,500 new homes required during this period.

One of the most exciting projects is ALAND’s $375 million Archibald development, which has been dubbed one of the most important residential and commercial developments in Gosford for decades.

ALAND founder and owner Andrew Hrsto reveals that Gosford has been on his radar for some time because of its location, good transport links and enormous potential.

“Property prices are substantially cheaper than those in Sydney, and yet the gross rental yields for units are impressive, sitting at 5.07 per cent. With a growing population and major new infrastructure in the pipeline, Gosford adds up to an attractive investment.”

Archibald marks Sydney-based ALAND’s first project on the Central Coast. Hrsto jumped into the market after another developer walked away from the development site in Donnison Street, which offers water views and massive potential.

Transforming Gosford

The Archibald precinct has created hundreds of jobs during its construction phase. The development includes 327 residential apartments, a 130-room hotel and six hospitality venues including the Central Coasts’s highest rooftop bar, a ground floor pub, restaurant, ballroom and a pizza and pasta bar.

The development will do more than just transform the nighttime economy of Gosford. It will help reposition the city as a major new tourism and conference destination, with employment opportunities for more than 200 people creating new opportunities for locals seeking a career in catering, hospitality or event management.

“Gosford has the advantage of being an up-and-coming regional centre with good transport links to Sydney. There’s a good pool of skilled labour on the Central Coast and we’ve found the local council extremely professional and efficient,” Hrsto says.

As he expected, demand for apartments in the dual tower design with shared podium has been strong since the building was first unveiled to the public, with local downsizers and investors from other parts of the state already circling. “We have already sold 97 per cent of the 327 apartments available, while interest in the hotel and hospitality venues have been equally strong,” Hrsto says.

NSW Premier Chris Minns recently described Archibald by ALAND as a gamechanger for Gosford, revolutionising the image and economic fortunes of the regional city. The NSW Government has itself committed significant funds to Gosford, including the $348 million hospital redevelopment and an $8.4 million waterfront revitalisation.

These capital expenditure projects have proved a powerful magnet for savvy developers in search of a project that will make a substantial difference to the local community.

“This is such an exciting addition to the skyline in Gosford. We embrace developers that build high quality establishments like this one and accept that these are not easy projects to get over the line,” said the Premier.

Given the positive reception that the Archibald project has enjoyed, Hrsto is now contemplating his next development on the Central Coast.

To learn more, visit archibaldbyaland.com.au