John McGrath's sights set on sustainability at Barangaroo
John McGrath says one of the most attractive traits of Sydney’s Barangaroo development is its green credentials.
“One of the coolest things about Barangaroo is its plan to be Australia’s first large-scale carbon neutral community – in fact, the aim is to make it the first of its size in the world to be climate positive,” McGrath wrote on Switzer.
“Sustainability has been a major factor in the masterplan, which includes a harbour cooling system, a recycled water service that will deliver 60 Olympic pools of recycled water to the CBD per year; a waste recycling service; and 6,000 square metres of solar panels.”
He says the $6 billion Lend Lease development will reinvigorate the city but will also lead to many commercial developments being transformed into residential towers. Major commercial tenants in the project will be Westpac, KPMG and Lend Lease – the group developing the site.
“As Barangaroo attracts the city’s best commercial tenants, this will probably result in some older commercial buildings in the CBD being redeveloped into residential apartments, as demand from commercial tenants declines.”
“This isn’t a bad thing as there are plenty of buyers who are keen to live in Sydney’s CBD. Executives love new apartments and living in the CBD means they’re close to work as well as all the great entertainment and lifestyle amenities the city has to offer.
“Downsizers are a group of buyers increasingly heading to the CBD, as many Sydneysiders refuse the seachange option in favour of New-York style living close to all the action.”
The development hopes to have 96% of all people heading there arriving by public transport, bicycle or by foot.
The 22 hectare former container port will hold 23,000 workers will house up to 1,500 residents living in 800 apartments.
It will also be home to James Packers' new $1.4 billion casino which McGrath says will attract high net worth Asian visitors.
Barangaroo South – the first of three areas at Barangaroo will open in 2015 and will host apartments and three commercial towers.
The six hectare Headland Park will open in mid-2015 and will have waterfront promenade, native gardens and cultural spaces.
And Central Barangaroo’s preliminary plans include large public spaces, cultural and civic components and further commercial development.
Some 5000-plus enquiries by prospective buyers have emerged for the first luxury apartments at Barangaroo South.
There are just the 159 off the plan apartment offerings in the first two buildings which are due for completion by late 2015.
The two low-rise buildings, the Alexander and Anadara, are the first two residential instalments of a master plan that will eventually include 800 apartments at Barangaroo South.
But they don’t come cheap starting at $1 million for a one-bedroom apartment.
The two-storey penthouse on the northern wing of the Anadara building, known as The Cloud, is expected to fetch more than $10 million.