Frasers Property implements innovative property tech solution at Midtown MacPark
Coposit to help buyers secure a new home with an initial deposit of $10,000
Frasers Property Australia has partnered with Coposit, an innovative new property technology solution designed to help buyers overcome a major hurdle to entering the property market.
Eligible prospective buyers of apartments in the groundbreaking Treehouse building, within Frasers Property’s Midtown MacPark community in Macquarie Park, will be able to secure their apartment via Coposit with an initial deposit of just $10,000. They can then pay off the balance of the deposit through weekly, interest-free instalments via Coposit (in accordance with the contract for sale) while their home is being built.
CEO and co-founder Chris Ferris said he came up with the idea after 10 years in the property industry where he saw many prospective buyers struggle to keep up with the market as they attempted to save their 10% deposit.
With Coposit, buyers choose their property (separately enter into a contract for sale), calculate their weekly repayment numbers, then track and manage their weekly payments through the Coposit app (provided that the minimum instalments are paid in accordance with the contract for sale).
Coposit is now offered at select developments across NSW, Victoria, Queensland and the ACT. Hundreds of buyers have used it to secure their future homes.
Disclaimer: The image above is artist’s impressions, indicative only. Timber flooring is an optional upgrade and not included in price list.
“Right now, it’s taking people an average of eight years to save their 10% deposit because of rising house prices and the fact they’re often also paying rent while doing it, and that means they’re constantly playing catch up,” Chris says. “We wanted to ease that burden, and we’re excited that such a well-located and prestigious community like Midtown MacPark is now part of our offering. We can’t wait to help people get into a Treehouse apartment.”
Frasers Property Development Director Scott Clohessy said Coposit meant buyers could secure their spot within Midtown MacPark without a full deposit, and then use the period in which the building was being constructed to save and pay the balance.
“We see it as a kind of savings plan for homes, and something that could really help buyers overcome what can be a major hurdle to home ownership,” he said.
An information day will be held at Midtown MacPark on Sunday, September 17 from 11am to 2pm, with representatives from Frasers Property and Coposit on hand to answer questions along with architects, lawyers and finance experts.
Treehouse‘s 162 apartments range in price from $737,000 to $817,000 for one-bedrooms, $1,233,000 to $1,348,000 for two-bedrooms and $1,633,000 to $2,008,000 for three-bedroom homes. A range of two and three-bedroom penthouses are also available, with prices ranging from $1,118,000 to $1,738,000.
Midtown MacPark is a masterplanned mixed use community comprising apartments and town homes as well as extensive shared spaces including a central Village Green park, pay-as-you-go gym and 25m pool, community centre, social enterprise café, Indigenous bush tucker community garden, pocket parks, playgrounds, walking paths and restored ecological corridor along Shrimptons Creek.
The truly unique Treehouse apartment building was designed by Studio Johnston and will feature namesake three-storey, open communal Treehouse rooms overlooking the Village Green, designed to be modern day “backyards” for residents to entertain and socialise. A sky garden rooftop will feature a kitchen, barbecue facilities and open-air cinema.
Treehouse is expected to be completed in 2025.
Disclaimer: The image above is artist’s impressions, indicative only.
Midtown MacPark is one of the best-located new communities in Sydney, 500m from the new Macquarie Park Metro station for easy CBD access, and 600m from Macquarie University and Macquarie Centre shopping precinct as well the major employment hub of NSW’s third largest business district.
Two childcare centres will be located within Midtown MacPark, as well as a vertical state primary school for 750 children which will be built adjacent to the Village Green and is anticipated to be ready for Term One 2026.
The community is designed for 100% walkability, with cafes, restaurants and beauty offerings, a car share scheme and extensive bike parking and cycling paths.
To RSVP for the information day visit here.
Terms and conditions apply to Treehouse apartments sold in connection with Coposit. See here for details.