Harbourfront Barangaroo apartment developments stoke significant anticipatory interest
The 5000-plus enquiries by prospective buyers of the first luxury apartments at Barangaroo South has delighted the developers, Lend Lease.
There are just the 159 off the plan apartment offerings in the first two buildings which are due for completion by late 2015.
There's a nine-storey 77 apartment building called Alexander that will sit on the waterfront promenade at the southern end of the Barangaroo site. Designed by PTW architect Andrew Andersons, the building is draped in vertical gardens.
The second building, Anadara, is designed by Richard Francis-Jones of fjmt. It has 82 apartments including a two-level penthouse that will top the 11-storey building. The penthouse is in the curvaceous design feature known as The Cloud.
The 60 square metre one bedders will be price at about $1 million; the 100 square metre two bedders about $2 million and three-bedders about $3 million, the CBRE director of residential projects, Murray Wood said. The prices are averaging around $20,000 a square metre.
Overlooking the new public square and harbour cove, CBRE says the Barangaroo apartments development is Sydney’s last significant CBD waterfront residential offering.
The development, set 30 metres from the water's edge, has been billed as part of the urban architectural movement towards mixed-use developments that are set to replace the former focus of the commercial business district.
The strong preliminary registration interest emerged earlier this year while the planning applications were under consideration.
The apartments go on sale later this month with CBRE as the lead selling agent for the residential community which is dubbed the most significant Sydney CBD waterfront residential offerings since the release of apartments at Circular Quay and Woolloomooloo in the 1990s.
The level of enquiry is above anything Lend Lease have seen globally in the last two decades for new apartments at any of their international projects, Ben Christie, the national sales and marketing manager at Lend Lease told Property Observer.
Buyer interest has come from the UK, the USA and Asia, with $10,000 refundable deposits being lodged by enthusiast buyers.
Lend Lease expect a strong owner occupier take-up, with some local buyers having the apartment as a passive occupancy while maintaining a property elsewhere in Sydney
Rentals as unfurnished are tipped to start from $1600 a week for the two bedders, with strong demand expected from the forecast 23,000 new neighbourhood workforce.
Property Observer first reported on the two apartment buildings in November last year.
Interested parties can make an appointment to view the sales display suite overlooking the Barangaroo site by contacting CBRE. James Hall at CBRE Hong Kong is overseeing the launch of the Barangaroo offering in Hong Kong and Singapore on the August 31, 2013 weekend.
