James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners

James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners
James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners

James Packer is looking overseas to sell apartments in his ­luxury residential tower in Sydney’s Barangaroo at a time when the property market in the Harbour city has shown signs of slowing.

The 81 exclusive apartments are expected to hit the market soon via an expressions-of-interest targeted marketing campaign, followed by a formal launch.

And the target are the wealthy in global cities. 

“Buyers in the gateway cities of the world will be targeted including­ London, New York, United Arab Emirates, Singapore, Southeast Asia, Hong Kong, Shanghai and Beijing,” Crown executive vice-president Todd Nisbet was cited as saying by The Australian.

Crown’s marketing push comes as Sydney home values were steady over the month and edged up just 0.3 per cent over the quarter, rising 13 per cent over the past year.

Melbourne values rose 0.5 per cent in August, 1.9 per cent over the quarter and 12.7 per cent over the year.

The apartments are being marketed by real estate agent Knight Frank and its London Figurehead, Lord Andrew Hay. 

Nisbet said he expected the 81 “Sky Homes” in the Crown residential tower also to appeal to the domestic Australian ­market. 

“This isn’t the kind of project focused on the Chinese investors,” he said, clearly implying that the apartments are not being targeted towards Chinese buyers.  

“Investors are not the type of buyer that it is going to resonate with. We are targeting specific demographics and we will not disclose pricing at this time.’’

Though the pricing is being kept under wraps, there’s speculation that the penthouse atop the Barangaroo tower, to be branded Crown Sydney, One Barangaroo, could come with a price tag as high as $100 million.

Last year, Packer's Crown Resorts secured approval for his $2 billion Sydney casino at Barangaroo.

 

Tags: 
Crown Group Apartment Sales

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