Barangaroo casino penthouse not for sale: Crown Resorts

Barangaroo casino penthouse not for sale: Crown Resorts
Barangaroo casino penthouse not for sale: Crown Resorts

Crown Resort executives have refuted silly Fairfax Media speculation that the billionaire James Packer was intent on selling the Barangaroo casino resort penthouse for a windfall $100 million plus.

The project’s award-winning architect Chris Wilkinson from Wilkinson Eyre told a business breakfast only last week that the top three floors of the proposed 270 metre tower would be an integral part of the six-star hotel.

Crown Resorts subsequently confirmed the top three floors would be reserved for the hotel’s “most prized international VIP customers".

News Ltd's John Lehmann noted this week that Fairfax were long-time critics of Barangaroo, although Property Observer would suggest perhaps less so since the effective abandonment of the urban affairs reporting unit formerly headed by the enthusiast Matthew Moore. Records show fewer than 25 urban affairs bylined articles this year in the SMH, compared to the same period in 2011 having close to 150 articles. 

This week Fairfax Media mischievously speculated a $100 million plus sale price would: "mean Mr Packer's company could recoup the entire $100 million licence fee it has paid the NSW government for the right to operate a VIP-only casino in the facility with a single apartment sale."

The resort is scheduled for a 2019 completion.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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