How Crown Group are changing the face of Sydney's Eastlakes with The Grand

Crown Group Chair & Group CEO Iwan Sunito said Crown Group is creating a world-class urban village and destination in its own right
The proposed The Grand. Image supplied
Joel Robinson September 10, 20210 min read

Crown Group, the soon-to-be national apartment developer,  are changing the face of Sydney's inner eastern suburb Eastlakes with their $1 billion lifestyle precinct, The Grand Eastlakes.

Formerly known as Eastlakes LIVE, the multi-stage development has been dubbed 'the new east' by the team at Crown and will home nearly 500 apartments across five buildings, a new eat street, and a two retail precincts, set on both sides of the project.

Stage one, located on the north side of Evans Ave and opening imminently, includes 133 apartments located above a 15-retail outlet shopping centre, anchored by a larger format 1600 sqm ALDI and a Woolworths Metro.

Stage Two, located on the south side of Evans Ave, which will commence construction in late 2022, will see a further 357 apartments built, located above their own 13,000 sqm, three-storey shopping centre, designed by Buchan Group. That will feature 80 retail outlets including a full line Woolworths and a community town centre including a medical centre and public library.

Crown Group Chair & Group CEO Iwan Sunito said Crown Group is creating a world-class urban village and destination in its own right at Eastlakes attracting a whole new community to live, work, shop, exercise and dine with their loved ones, friends and family.

"This project will celebrate and showcase the work of architects as ‘placemakers and collaborators’ that goes beyond the design just of buildings and brings a new life and joy to a previously tired and uninviting urban setting, in much need of renewal and revitalisation," Sunito said.

“What it also brings is a flow-on effect of continued urban growth and renewal, more development, public infrastructure, transport, amenities and commercial activity to Eastlakes and surrounding areas.

Colliers Residential Managing Director Peter Chittenden, who is managing sales of stage one at The Grand Residences, said that not only is Crown Group creating Sydney’s new east, a dynamic entertainment and lifestyle precinct but it is also an affordable alternative to other eastern suburbs or inner-city neighbourhoods where property seekers are priced out.

“Ideal for owner-occupiers, families or downsizers wanting all of the convenience of living above a shopping centre, this project is attracting interest from young families and first home purchasers who are currently renting in the eastern suburbs, love the east but are priced out of nearby beachside suburbs. This is the next best option,” he said.

“The project will also attract healthy rental returns, being a brand new development with all of Crown Group’s spectacularly conceived resort-style facilities such as beautiful pools and rooftop dining areas, so it certainly is attractive to investors as well.”

“The Eastlakes Shopping Centre, which is currently operating, will be unrecognisable when the entire project is completed in late 2025,” Chittenden added.

Crown have a solid reputation for delivering mixed-use precincts, and buyers have too benefitted in previous projects.

Property values at Top Ryde City Living, Crown's award-winning residential project north of the bridge which also saw 500 apartments across seven high-rise towers, saw prices increase 33 per cent from the start of the project through to the completion.

Chittenden suggested that buying a property above a high-quality shopping centre is a great long-term investment which may increase the value of the property as well as attract tenants for rental properties.

“Property prices in the local area may also see a considerable uplift with the completion of The Grand precinct by late 2025 which makes buying now at the beginning of the project prudent. Given the extensive retail convenience, it’s a wonderful opportunity for families, downsizers, first home or next home purchasers,” Chittenden said.

“Crown Group is genuinely transforming Eastlakes which will be a game-changer for the local area. It’s tremendously exciting for this largely unknown pocket of Sydney’s east to be completely revitalised and reinvigorated with stunning new amenity and immaculately finished residences,” he said.

Among the string of highly coveted industry awards that Crown Group has won for its slew of iconic mixed-use projects, The Grand Eastlakes was awarded the 2013 UDIA NSW & ACT Awards for Excellence for Concept Design.

Apartments are for sale from $740,000 for a one-bedroom apartment with car space, and rise to $1,520,500 for a three-bedroom apartment with car space.

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and new developments across the country
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Crown Group
Eastlakes
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