Affluent buyers still splashing the cash in Sydney's luxurious Eliza development

Three luxurious apartments priced between $4 million to $6 million have sold in the past three weeks in the Tony Owen-designed Eliza development.

“The deals show that the upper end of the Sydney apartment market has kicked into life,” says Irene Lau, Savills’ sales director.

The three full floor apartments are approximately 200 square metres in size, feature four bedrooms and a private lobby.

Irene Lau of Savills and Hamish Robertson of McGrath secured the sales.

Lau says Eliza has appealed to affluent buyers because of the rarity of full-floor apartments in an exclusive CBD location.

“Elizabeth Street is acknowledged as Sydney’s dress circle.

“It fronts Hyde Park and is surrounded by internationally-renowned restaurants, world class fashion boutiques, shopping and facilities.

“The added bonus for Eliza purchasers is that capital growth of such ‘blue chip’ buildings is more pronounced than for any other form of residential property,” says Lau.

Featuring a serpentine-sculpted Tony Owen-designed façade, Eliza features 19 apartments across 17-storeys.

“We wanted to avoid the uniformity of most Sydney apartment developments so we engaged Tony Owen to design a building that shakes up prevailing architectural standards,” says Edward Doueihi of Ceerose.

“We believe Eliza will be the finest apartment building in the CBD, and we hope it emboldens other developers to be more adventurous with their architecture,” says Doueihi.

Level one to five features 10 half-floor two-bedroom apartments, which were all sold off the plan for around $2 million each.

The majority of early off-the-plan purchasers were owner-occupiers, including some expats who will use the apartment as their Sydney base.

The upper levels feature eight four-bedroom apartments, each occupying an entire floor and harbour views.

A three-level four-bedroom penthouse is also up for grabs for around $15 million.

The penthouse includes a rooftop level, boasting an infinity edge pool, limestone paving, hardwood timber decking and an outdoor kitchen and entertaining facilities.

Marketing of the penthouse won’t begin until Eliza is completed, which is scheduled for February next year.

ntrotman@propertyobserver.com.au