Off-the-plan buyers for new North Sydney tower will be asked to pay close to $1m for one bed apartments

AGENTS selling off-the-plan apartments in a new North Sydney residential tower called The Miller say one-bedders priced at close to $1 million ‘represent value’.

Some of the new owners will enjoy stunning views.

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One-bedroom apartments are coming close to the $1 million mark in North Sydney.

A new development called The Miller is selling one-bed units for up to $914,000.

“With parking it certainly represents value around that million dollar mark,” said Eddie Mansour, managing director of projects at Ray White.

A two-bed in the block is on the market for up to $1.9 million, while a three-bed will set back buyers just over $2.1 million.

An artist’s impression of the interior of one of the new apartments.

Mr Mansour said the price was reflective of values in the area and that buyers would be lucky to find something for that cost in Milsons Point.

“I guess to the naked eye you see that and you could go ‘Oh Jesus what’s going on?’,” he said.

“It’s pretty much market at the moment.”

An office block is currently being demolished to make way for the tower. Construction is expected to be complete by mid to late 2018.

The apartments will feature luxury fit-outs.

The development is described as “the essence of luxury in heart of North Sydney”. It will have a full service concierge, premium appliances and stone kitchen benchtops.

Mr Mansour believes it will be the most prestigious apartment block in North Sydney and is seeing a mix of buyers.

“The majority of the building is local buyers,” he said.

“There’s been a lot of empty nesters and a lot of younger couples who want proximity to the CBD.”