Canberra's tallest residential project, Infinity Towers, launches

Canberra’s tallest residential building development is a step closer to drastically shaping Gungahlin’s skyline.

The first stage of the Infinity Towers project will be officially launched on Wednesday.

Geocon managing director Nick Georgalis said a third of the first tower’s 215 apartments had sold since the project officially hit the market on Saturday.

Of these, 50 were sold before the weekend, including the sale of two penthouses for more than $1 million and a third penthouse just short of $1 million. A fourth penthouse sale is in the pipeline.

“We were knocked off our chairs,” Mr Georgalis said. “As of today, we’ve sold a third of the project.”

Upon completion the complex will be 70 metres tall and the highest structure in Canberra after Telstra Tower.

The two towers will hold 426 apartments, including one-bedroom, two-bedroom and three-bedroom units, above ground-floor commercial space.

The site is located on Gribble Street, near Anthony Rolfe Avenue.

Among the highlights is a fifth-floor “sky park”, including a 25-metre infinity pool overlooking Yerrabi Pond.

Wednesday’s launch at the Infinity Towers display suite will also showcase 3D visual reality goggles, allowing potential buyers to experience the view from some of the balconies, as well as take a virtual look inside some of the apartments.

Mr Georgalis said construction of the first 22-storey tower was due to begin in October and was expected to take 18 months to complete.

Construction of the second 20-storey tower was due to begin in April, 2017 – six months after the first – bringing the estimated completion date of the entire project to October, 2018.

Original plans for the $250 million Central Park Gungahlin complex were approved in November, just before a 23-metre height limit was imposed for all new structures in Gungahlin.

Mr Georgalis said the impending federal election had not seemed to affect sales.

“It’s probably an indication of the positive feeling in the marketplace today,” he said

Aside from the views, amenities and location were big attractions.

“Amenity is a big sell: the sky park, the infinity pool. That gives it a resort feel,” Mr Georgalis said.

“It’s only a few 100 metres from the light rail terminal. Light rail is quite attractive.”

Mr Georgalis said the the short walk between the complex and The Marketplace shopping precinct had been attractive to buyers and town centre tenants.

He said the growth of the Gungahlin Town Centre, including the introduction of the region’s first cinema, had also drawn people to the suburb.

Infinity Towers is among three high-rise developments slated for the area, including the 12-story Mezzo project and the eight-storey Uptown development.

Independent Property Group is selling the first release of apartments. For more information, visit geocon.com.au/project/infinity