Lendlease's Tower One in Barangaroo breaks price per sqm record in $140 million sale

Lendlease's Tower One in Barangaroo breaks price per sqm record in $140 million sale
Jonathan ChancellorDecember 7, 2020

Apartment price per square metre data is one of the key criteria that valuers and economists look for when reviewing property prices and trends.

Over recent times, the actual apartment size has become a mild influencer among buyers, especially off-the-plan, who have embraced the purchasing reckoner common in other global cities.

Artist’s impression of the $100m+ penthouse at the One Sydney Harbour development in Barangaroo. Photo: Lendlease

Lendlease officially announced a $140 million sale of a dual key penthouse in its One Sydney Harbour tower at Barangaroo South on the weekend.

The price reflected a record $100,000 per sqm-plus for the 1000sqm internal space within the two-floor penthouse. The lower 600sqm sub-penthouse component, plus car spaces et al, works out at about $66,000 per sqm.

The prior record was $95,000 in the 2016 sale of two Opera Residences penthouses, currently being built on Macquarie St.

Renders of Lend Lease Tower 1 and 2

These stellar prices don’t quite match Hong Kong and Monaco sales.

Sydney’s cheapest sale at the weekend was a $470,000 Parramatta unit — which was $5300 per sqm.

Tower 1 is the tallest of three buildings in the One Sydney Harbour development, designed by Pritzker Prize-winning architect Renzo Piano.


Lend Lease secured approval in 2017. Planning records show Tower 1 is set to be 247 metres high with 317 apartments approved over 72 levels.

This article was first published in the Sunday Telegraph.

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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