Geocon opens registrations of interest for new development

Registrations of interest have opened for the latest Geocon development, Tryst.

Comprising 165 apartments, Tryst is stage 2A of Geocon’s development on the Reid City 7 site, on the corner of Cooyong Street and Ainslie Avenue.

The registration of interest process will allow buyers to secure an apartment for $1000, and pay a 5 per cent deposit in December.

Stage one of the development, Metropol, has been on the market for close to 12 months.

Geocon purchased the 10,719-square metre site in 2017 for $38.5 million. It was formerly the Bega Flats public housing site.

According to the development application, there will be 520 units across three buildings on the site, with 248 in Metropol, and 165 in Tryst. A third development will be launched and marketed separately under another name.

It is set to cost $163 million.

“We are seeing a lot of live-in owners express interest for Tryst because it’s got a very high quality of finish,” said Geocon marketing director Melanie Hindson.

Ms Hindson said the location was one of the main selling points of the development.

“One of the best things about the development is it’s right opposite Glebe Park,” she said.

“It’s a minute’s walk to the Canberra centre and it’s just next to Braddon.”

There will be a range of amenities at Tryst that residents can book for private use.

“What we’re finding is there is a trend for residents to be able to use amenity but in a private way,” said Ms Hindson.

“[There is] a relaxation room with a lounge, TV, spa pool, sauna and chef’s kitchen which residents can book for their own private use.”

Approximately 50 per cent of the Tryst will be one-bedroom apartments, with the remainder a mixture of two and three-bedrooms.

One-bedroom apartments are priced from $399,900, with three-bedroom apartments from $895,900.

A public launch of the development is scheduled for November.

Site works have started, with the existing buildings demolished. Public consultation for the development application closed on Monday.

The development is set for completion in October, 2020.