The top off the plan apartment developments to look out for in Sydney's Eastern Suburbs in 2024
The Eastern Suburbs is the most expensive real estate region in Australia. Even with the prices that puts it as expensive as anywhere in the world, it is always in demand.
Harbourside tends to command the largest prices given there are waterfront homes with direct access to the harbour, and of course a number of homes with views of the Harbour Bridge or the Sydney Opera House.
The beach still does pretty well, in both the house and apartment market.
Given the heightened cost of land in the Eastern Suburbs, few developers can put their mark on any of the suburbs. But when they can, they know they'll attract buyers due to the limited supply of new property.
We've cast our eyes over the new developments expected to hit the Eastern Suburbs market in 2024.
Project: Bronte Collection
Location: 122-128 Hewlett Street, Bronte NSW 2024
Developer: Fortis
Having secured development approval from the Waverley Council for the Bronte Collection, Fortis plans to both launch the luxury project and start construction in 2024.
The Bronte Collection comprises just nine freestanding homes on Hewlett Street near Bronte Beach.
The project is designed by MHN Design Union, in collaboration with interior architects Alexander & CO. and Lawless & Meyerson and landscaping by Wyer & Co.
Each of the nine homes will offer views of Bronte Beach and include spacious living, entertaining, and outdoor areas.
The residences will feature private dual garages with EV charging provisions, private pools, outdoor showers, and individual lifts. Some of the homes will also have state-of-the-art gyms and saunas.
Following the success of the Woollahra Collection, Fortis expects strong demand for the Bronte Collection, with an expected end value of $134 million.
Location: 20-22 Sandridge Street, Bondi Beach
Developer: Central Element
Busy developer Central Element will create something of which Bondi Beach hasn't seen before after securing a 2,000 sqm site for $51 million late last year.
The prime site, across 20-22 Sandridge Street and 21 Wilga Street, an amalgamation of six properties across three lots which had been years in the making, is set to home just a handful of ultra-premium apartments and houses on the site, with prices expected to start from $20 million.
Speaking to Central Element CEO Nathan Chivas last year, he said setting new benchmarks in property development has been in Central Element’s DNA for decades.
"It was something my father always did in his development days," Chivas says. "Since founding Central Element in 2011, we've continued to evolve every year we've operated, and now we're moving into what we're calling the 'ultra-luxury phase'."
Chivas says they only want to develop in the best locations. But with that, you need to create an A-grade product.
“If you find a location and create A-grade product that matches that location, then you know you’ll have strong demand no matter where the property cycle is at,” Chivas says.
"In this end of the market, you really need to bring a story to life, whether it's through brining in heritage or other luxury design elements. Ultimately these types of developments need to be a cut above the rest. They need to be more than an apartment in a great location. The money demanded by these projects, and the buyers of the projects, demand nothing less. That extra layer of detailed design and amenity is warranted for locations like Coogee and Bondi."
Project: Ballamac House
Location: 39 Arcadia Street, Coogee NSW 2034
Developer: Central Element
Central Element's other landmark project set for 2024 is Ballamac House, a historic 1860s landmark in Coogee which they intend to restore and redevelop.
The project involves transforming the heritage Victorian house into eight luxury apartments designed by Tonkin Zulaikha Greer.
The development will comprise two buildings, with the heritage Victorian house housing two of the eight apartments and the other six situated in a new contemporary building to the east.
The residences, spread across four stories, will each have three bedrooms. The penthouse, boasting panoramic ocean views, includes extravagant interiors, a wrap-around entertaining terrace, a second entertaining terrace on the first level, a butler's pantry, and floor-to-ceiling glazing to maximise views.
The conservation efforts include retaining external and internal walls, fireplaces, mantel pieces, and decorative ceilings, and reconstructing the wrap-around verandah. Central Element aims to fuse old and new, bringing the estate into a new era of luxury.
Future residents will have access to communal outdoor areas, lush green gardens, and a magnesium pool.
Project: The Chimes
Location: 45-53 Macleay Street, Potts Point NSW 2011
Developer: Time & Place
Potts Point has long been the most high density harbourside suburb in the east. It's another suburb which is now only likely to see boutique developments given most land large enough for a new high-rise is already occupied by an old one.
The exception to this is The Chimes building, a mid-20th-century building, designed by architect Hugo Stossel. The Macleay Street building has been in the crosshairs of Melbourne developer Time & Place for a number of years.
Time & Place has been slowly but surely buying out apartment owners since 2020, when it was reported they essentially bid $85 million for the whole building.
Last year they lodged concept plans with the City of Sydney Council for a new SJB-designed building with 45 apartments.
The existing building contains 80 studio apartments, and the redevelopment aims to offer a mix of one, two, and three-bedroom apartments, ranging in size from 50 sqm to 270 sqm for half-floor apartments.
The new development will include ground-floor retail along Macleay Street. The plans include features such as private rooftop terraces with a barbecue area and plunge pool for the two penthouses.
Residential amenities, including a lap pool and open space, will be located on the ground level behind the retail spaces.
There's likely still much more work to do at The Chimes before the project is launched, but no doubt more information will be released as to whether Time & Place have been successful in getting their project.
Read more: Exclusive first look: Time & Place lodge Potts Point apartment plans
Location: 117 Victoria Street, Potts Point
Developer: Ceerose
Renowned architect Koichi Takada is set to make his first mark in the high-end harbourside enclave, putting plans together for Ceerose on Victoria Street.
The proposed $19.58 million, 10-level building is designed to blend with the historic streetscape while providing a contemporary addition to Victoria Street.
Ceerose acquired the A-Grade site last year, which currently houses an original apartment block with 45 units that will be demolished for the new development.
The development will consist of two, three, and four-bedroom apartments, some spanning two levels.
Two-bedroom apartments start from 110 sqm, and there will be a variety of configurations, including apartments with plunge pools on their balconies.
The building will have 26 parking spaces, including four for visitors.
Location: 10 Onslow Avenue and 21C Billyard Avenue, Elizabeth Bay
Developer: Fortis
Prominent developer Fortis filed for its first project in Potts Point's neighbouring Elizabeth Bay last year and will likely launch this year, pending approvals.
The development will be located on an amalgamated 1,464 sqm block across 10 Onslow Avenue and 21C Billyard Avenue, comprising two Smart Design Studio-designed buildings that will house 22 apartments.
The $23.25 million project involves demolishing two early 1970s freestanding flat buildings to make way for the new development.
The proposed buildings include three two-bedroom apartments, 18 three-bedroom units, and a sole four-bedroom apartment spanning 279 sqm.
The private rooftop terraces for the penthouses will feature barbecue and lounge areas, as well as private pools.
The development will provide 27 parking spaces for the 22 residences, with eight spaces equipped with EV charging and the other 19 designed with the provision to add EV charging at a later date.
Read more: Fortis file Elizabeth Bay apartment development plans
Location: 4-4A Barncleuth Square, Elizabeth Bay
Developer: Toohey Miller
Developer Toohey Miller is set to continue to make its mark in Elizabeth Bay following the success of its debut apartment development, No.1 Onslow Avenue.
Having quickly sold three out of the five full-floor apartments in the luxury project with prices ranging from $8.25 million to $13 million, the Nick Couloumbis-led developer will no doubt be looking to their nearby project to launch.
There's nine apartments planned for the site at 4-4A Barncleuth Square, currently occupied by a mid-1960s building with over 20 apartments.
The design by SJB aims to complement the Art Deco architecture prevalent in the area, echoing the forms and styles of the neighbouring buildings.
The proposed building will consist of nine apartments, with the majority being three-bedroom units spanning 137 sqm internally.
The penthouse, located on the top level, will feature four bedrooms and 284 sqm of space, along with a private rooftop terrace equipped with a spa.
Sustainability features are also incorporated into the project, including a green roof to reduce building energy, cross-ventilation for all apartments, and the use of locally sourced bricks from Australian manufacturers, considered a more sustainable option compared to standard concrete facades.
Read more: First look exclusive: Toohey Miller file for Elizabeth Bay apartments
Location: 138 Maroubra Road, Maroubra
Developer: Lindsay Bennelong
Lindsay Bennelong, headed by Clarendon Homes Founder Peter Campbell, is heading to the Eastern Suburbs with plans for a mixed-use development at 138 Maroubra Road in the Eastern Suburbs of Sydney.
The developer has filed for a nine-level building on the 1,512 sqm site, which was secured in 2022. The project aims to demolish the existing office building and replace it with a structure offering a mix of retail, commercial, and residential spaces.
The proposed DJRD Architects-designed building will feature 57 apartments, ranging from one to four bedrooms.
The ground level will include two retail spaces, and the first level will host a commercial office space surrounded by a landscaped outdoor area.
The apartment sizes vary, with one-bedroom units ranging from 51 sqm to 62 sqm, two-bedroom units starting from 86 sqm and reaching 99 sqm, and three-bedroom apartments ranging from 105 sqm to 149 sqm.
There is also a sole four-bedroom apartment with over 150 sqm of living space.
Outdoor breakout spaces for residents are planned on different levels, including an outdoor kid's play area and an outdoor gym on level two.
Level eight will also feature two outdoor spaces with barbecue and kitchen areas, communal dining spaces, and community garden planters.
Project: Coast Little Bay
Location: 11 Jennifer Street, Little Bay
Developer: Urban Property Group
Prominent Sydney developer Urban Property Group will be launching their first Eastern Suburbs project this year, at the southern tip in Little Bay.
The project, Coast Little Bay, will comprise three four-level buildings on over a hectare of bushland at 11 Jennifer Street. They will home 75 one, two, and three-bedroom apartments. The development plan also includes shared basement parking for 117 vehicles.
The project designed by Hill Thalis Architecture adopts the courtyard apartment type, which Hill Thalis founding principal Philip Thalis says is puzzlingly rare in Australian cities, despite its suitability to the climate and long architectural traditions of sociability.
Read more: Exclusive first look: Urban Property Group reveal Little Bay apartments project