Metropol breaks ACT sales record prior to release

Metropol has already broken Canberra records with the development set to exchange more than $80 million in contracts at a sales night on Saturday.

More than 100 apartments will be exchanged prior to the public release of the apartment block on Monday.

Geocon managing director Nick Georgalis attributed the number of sales to confidence in the local market.

“It is a record result for a single sales event in Canberra and is testament to buyer confidence in the local market,” Georgalis said.

Metropol is situated on the City 7 site on the corner of Cooyong Street and Ainslie Avenue and will embrace Canberra’s unique architecture.

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“With one of the best locations in the CBD next to the Canberra Centre and Glebe Park, it is no surprise that Metropol is hot property,” Georgalis said.

“The building thoughtfully reflects some of the most iconic features of Canberra’s classic large scale architecture with strong vertical lines that are reminiscent of the National Library and Carillon.”

One of Metropol’s stand-out features is a “communal” penthouse apartment with an infinity edge swimming pool.

The development will be released in two stages and will feature 240 apartments with one-, two- and three-bedroom apartments and penthouses available. Prices will start from $344,900.

Building is due to commence in 2018, with residents expected to move in in mid-2020.