Luxury apartments at One Barangaroo to start at $9.5  million

Luxury apartments at One Barangaroo to start at $9.5  million
Luxury apartments at One Barangaroo to start at $9.5  million

Luxury apartments at the One Barangaroo casino, hotel and residential project on Sydney Harbour will start at $9.5 million.

Making it Australia’s most expensive apartment tower, Crown Resorts executive vice-president strategy Todd Nisbet told The Australian that already a quarter of the 82 apartments had been “spoken for” ahead of its launch.

Sale agreements include tycoon James Packer’s record $60 million purchase of two-storey apartment midway through the 30 levels.

The $2.2 billion complex is being built by the James Packer-backed Crown Resorts.

The apartments start at level 30 below which is the six-star hotel

The largest is the top duplex penthouse at 800sq m.

The tower’s marketing director, Erin Van Tuil, said the apartments had been benchmarked against projects in global cities such as London, New York, Hong Kong and Singapore.

"The residences are very international," the sales' marketing suggests.

The architect suggests 10 years ago a development like One Barangaroo would have been nearly impossible.

"That’s mainly because of the technology – it’s quite advanced.

"We’ve got a lot of double curvature surfaces, which you couldn’t have done in the past."

The only other reported sale was to the former bookmaker Bob Blann at more than $40 million for a whole-floor apartment.

An artist's impression of an apartment in One Barangaroo, which is part of Crown's casino development.

Blann has exchanged on a 515-square-metre apartment on level 61, equating to a bullish $77,670 per square metre for the western corridor apartment location.

An artist's impression of a bathroom in the 70-level casino development.

Of the 80 residential apartments on offer, only three are whole-floor offerings, including Blann’s on level 61 and two immediately above it.

Each successively higher apartment is an average of 20 square metres smaller than the one below.

James Packer’s apartment is understood to be between level 40 and 50 of the 70-level tower.

Both sales have smashed the previous national apartment price record of $27 million set in late 2016 for one of the penthouses in the Opera Residences development at Circular Quay.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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