AMP Capital declared the first stage of its residential development at Wentworth Point in Sydney complete and sold.
Stage one has been completed five months ahead of schedule, and stage two is now under construction, according to the announcement.
Select property portfolio fund manager of AMP Capital, Warwick Petschack, said the sales result and early completion was an "excellent outcome" for investors.
"We are delighted the first stage of 285 apartments has completely sold out, proving there is high demand for affordable, quality apartments in a central location in the greater metropolitan area," he said.
Stage two is expected to be complete in late 2014. It comprises of 252 units, with 114 pre-sold.
AMP Capital's Select Property Portfolio No.3 holds a 25 per cent interest in the project alongside joint venture partners, Billbergia Pty Ltd.
