For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Barangaroo

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The private real estate group Markham has bought Sydney's popular King Street Wharf development.
Located next to the Barangaroo precinct, King Street Wharf has been sold for $125.5 million, on a yield of 6.02 per cent.
It was listed in January at $130 million.
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It was a 99-year leasehold of the first project built in the area, opening just before the Sydney Olympic Games in 2000.
LaSalle Investment Management had paid about $90 million in 2016 for about $90 million having bought it from Brookfield Multiplex who developed the property.
Its 14 tenants include the Cargo Bar, the Malaya restaurant, and Bungalow 8.
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Markham spent $90.5 million in May this year on the office space at the northern end of the Piers 8&amp;9, Walsh Bay.
In 2016 Markham and development heavyweight Lend Lease teamed up to buy the Sydney Superyacht Marina.
Markham is headed by James Markham and Cameron Habler.
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j.ballantyne1990-6AQqhLzZaK

Markham adds another wharf to its Sydney portfolio

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Global co-working company WeWork will lease all six floors of commercial office space at Lendlease’s recently approved Daramu House office building at 1 Sussex Street, Barangaroo South.
The co-working provider will occupy all 10,000 square metres, of the building’s office lease, which will provide for 2,000 of its members.
Designed by Alec Tzannes, Lendlease received the green light for Daramu House (pictured above), its second Barangaroo South office building, early last month.
Australian companies that use WeWork include Microsoft, Deliveroo and Box.
Daramu House is the ninth location WeWork has secured in Australia.
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Last week the company announced its first Brisbane site at 310 Edward Street (pictured above) which it will open later this year.
Daruma House is expected to open in early 2020.
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WeWork secures whole office building lease at Barangaroo

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Canada's Oxford Properties has won the rights to Grocon's development stake in the $2 billion Barangaroo Central project.
Oxford, led by US-based Hines Real Estate, will make a payment of about $100 million to secure the development rights over which Grocon has control.
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<div class="cq-article-content-media section">The deal sees Grocon stay on as the project development manager.</div>
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<div class="related-quotes section">Grocon confirmed to The Australian and Fairfax Media that Oxford Properties had been selected as the preferred party.</div>
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Grocon had been reportedly under pressure to secure investors for its portion of the project – an office tower of up to 50,000 square metres – before its line of credit runs out in September.
Last November Grocon was awarded the conjunctional development rights to the $2 billion Barangaroo Central development.
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<div class="cq-article-content-media section">Grocon, led by property scion Daniel Grollo, joined with Scentre and Aqualand in the winning consortium.</div>
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<div class="cq-article-content-media section">The project which sits adjacent to Crown Resorts casino. A buy-out of Grocon's stake by its own consortium partner is under consideration, sources said. 
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Oxford Properties is the real estate investment arm of OMERS, one of Canada's largest defined benefit pension plans.
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Canada's Oxford Properties secures Grocon's Barangaroo Central project equity 

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Lendlease have received approval for a second engineered timber office building in Barangaroo South.
The building, which will be known as Daramu House, translated to tree house in the aboriginal Sydney language.
Its construction will follow the completion of International House Sydney at Barangaroo in 2017.
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Daramu House will be Lendlease’s sixth engineered timber building in Australia.
The new building, which will be completed in late 2019, will front Hickson Road and will consist of more than 10,000 sqm of commercial floor space and around 680 sqm of new retail.
Daramu House will include the use of sustainable timbers, as well as roof-top planting to capture rain, and solar photo-voltaic cells to enable power to the building and the precinct.
Barangaroo South managing director Rob Deck said Daramu House will provide tenants with health and wellbeing benefits combined with a warm, clean and natural environment.
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“This building will be Lendlease’s sixth engineered timber building in Australia, joining its neighbour, International House Sydney as well as 25 King St in Brisbane, the Forte Apartments and Library at The Dock in Melbourne, and the Jordan Springs Community Hub in Western Sydney," Deck said.
“With engineering by Lendlease’s DesignMake business, Daramu House will offer ground level retail tenancies, six floors of office space constructed from cross laminated timber and glulam (glue laminated timber), a building material with a structural strength akin to concrete and steel. 
“Lendlease is committed to achieving innovative and sustainable solutions. Barangaroo South has already achieved Australia’s first 6 star Green Star Communities rating and WELL Certification for Core &amp; Shell at the Platinum level, the highest certification available. 
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jrobinson-rf4aSBido9

Barangaroo South set for second timber office tower dubbed Daramu House

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GUEST OBSERVATION
You may know that the suburb of Barangaroo is very popular with offshore buyers. Australian expats living overseas and foreign buyers from other countries — especially China — love this little corner of Sydney.
Why do they love Barangaroo so much, and what does it mean for you? 
James Pratt knows the suburb as well as any auctioneer. His firm, JPA Group, is located in one of the area’s new commercial towers and he has worked in the area from the opening.
“It seems like every time we have an auction booked in Barangaroo, the property sells prior,” he told me.
“Barangaroo is an excellent market for sellers, because you’re not limited to one kind of buyer. The buyer urgency goes all around the world. You’ve got both occupiers and investors. Few areas of Sydney have that kind of wide appeal.”
Jane Zhao, Sales Director and Principal of Mango Real Estate, recently set a record price for a two-bedroom apartment in Barangaroo.
The apartment is on a low floor and came with a parking space. Both the vendor and the buyer are owner occupants from mainland China.
Zhao said, “This home sold for a record price of $3.5 million in just one week. The buyers wanted to take occupancy quickly, so they didn’t care about historical transaction prices. They valued speed.“
“The owner and buyer had very similar tastes,” said Zhao. “They both loved this apartment because of the low-floor water views, which are very hard to find anywhere else in Sydney.”
Zhao believes Chinese buyers are the market to go to with Barangaroo listings. 
“I used Juwai.com to penetrate the Chinese market. They have cash. Everything is cash. They don’t need loans. I have many more buyers who want to purchase in Barangaroo, but there just isn’t enough inventory.
Other agents are also selling Barangaroo apartments at markups. Matthew Mifsud, a Sales Agent with Raine &amp; Horne City Living Pyrmont, has closed several transactions for prices significantly above the most recent prior sales price.
“A three-bedroom penthouse apartment in 17 Barangaroo Avenue was purchased off-the plan for $3.995 million and just resold for $5.5 million.
“A two-bedroom apartment I sold at 21 Barangaroo Avenue sold for $3.0 million in February 2018, after being purchased off-the plan for $1.875 million.”
Mifsud also sold a one-bedroom apartment at 25 Barangaroo Avenue for a 15% gain after just 13 months.
Barangaroo is even attracting Chinese buyers from other parts of Sydney, including Chatswood.
Joanne  Dai, a former investment banker who is Sales Executive at Century 21 City Quarter, has helped Chinese buyers move from Chatswood to Barangaroo.
“My client told me she loves Chatswood because of the Chinese influence there,” Dai said.
“But in Barangaroo she wakes up every morning with an amazing view of the Sydney Harbour. It reminds her why she chose to live in this country.”
“Barangaroo is expensive, but it offers a rare opportunity to own an iconic property along the Sydney Harbour. The last time we had such an opportunity was in 1998, when the Bennelong apartments were offered to the public. That was 20 years ago. Who knows when the next opportunity is going to be?”
Auctioneer Pratt noted that, “Barangaroo sprinted to about 15% capital gains in 2017, much better performance than in most of the rest of the city.” The average sales price in Barangaroo is $2.9m, 78% higher than in nearby Pyrmont.
According to Mifsud, Barangaroo apartments are well proportioned, with a typical two-bedroom having about 100 square meters of internal space. 
“That’s 20 to 25% better than in Lendlease’s Haymarket development, Darling Square,” he said.
“Some of the two-bedrooms in Barangarooo actually have two car spots,” Mifsud said, “which is almost unheard of.”
The huge demand for Barangaroo homes is ironic, because when promotion began there, more than one Chinese buyer told our team that they were unsure about the location. Now, if LendLease could magically produce another apartment building in Barangaroo, it would fill up with happy buyers in just a few weeks.
The marketing material from one of the buildings says it best: “Sydney is now the place everyone wants to call home,” and Barangaroo is the suburb where they want to live.
Carrie Law is the CEO and director at Juwai.com.
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Why rich Chinese buyers like Barangaroo: Juwai's Carrie Law

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Barangaroo South has been named Australia’s development of the year at a national property awards ceremony held last night.
Lendlease took home the RLB Australian Development of the Year prize at the Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards. At the awards, 137 finalists competed for national recognition in 20 categories.
Considered Sydney’s largest urban renewal project, will house 23,000 office workers, 2,000 residents, a six-star hotel and 80-plus cafés, bars, restaurants and retail outlets across more than half a million square metres of space upon its expected 2023 completion.
Barangaroo South took also won the WSP Award for Best Sustainable Development – New Buildings, the Liberty Steel Award for Best Mixed Use Development, and the Eagle Lighting Australia Award for Best Workplace Project.
“Barangaroo South is a truly iconic international project which has recalibrated the way Australians think about precinct-scale urban renewal,” says the Property Council’s Chief Executive, Ken Morrison.
“Lendlease has combined iconic buildings designed by acclaimed architects with world-leading sustainability initiatives that have transformed entire supply chains and challenged large tenants to embrace green business practices.”
“Barangaroo South also throws down the gauntlet to governments around Australia by showing when density is done right, it delivers.”
Other winners included:
<ul>
<li>Mirvac's EY Centre was presented with the SAS International Award for Best Office Development;</li>
<li>Quantity surveying firm Slattery took home the PwC Award for Diversity for companies with less than 250 employees;</li>
<li>Cushman &amp; Wakefield won the the Moulis Legal Award for Diversity for companies with more than 250 employees;</li>
<li>Rebecca Fitzgerald, a senior mechanical engineer with WSP, was awarded the du Chateau Chun Award for Future Leader of the Year. </li>
<li>The S4B Studio Award for Best Heritage Development was taken out by the Old Clare Hotel in the Sydney suburb of Chippendale. </li>
<li>The Equiem Award for Best Project Innovation was presented to Project REDDA, an end-to-end real estate due diligence solution that automatically detects key risks in leases.</li>
<li>The Tonsley Innovation District in South Australia was presented with the KONE Award for Best Development Innovation for cultivating high-value manufacturing, leading-edge research and emerging industries.</li>
</ul>
 
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jonathanchancellor-7SQnKwU6yx

Barangaroo South wins development of the year award at PCA ceremony

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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.
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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.
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<img src="https://static.domain.com.au/domainblog/uploads/2018/02/24001648/2_h0wh4b.jpg" alt="An artist's impression of an apartment in One Barangaroo, which is part of Crown's casino development." width="1500" height="843">
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.
<img src="https://static.domain.com.au/domainblog/uploads/2018/02/24001652/2_h0wh4a.jpg" alt="An artist's impression of a bathroom in the 70-level casino development." width="1500" height="842">
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.
 
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jchancellor-FAypfDUnLy

Luxury apartments at One Barangaroo to start at $9.5  million

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A consortium led by Grocon in partnership with Aqualand and Scentre Group has been selected by the Barangaroo Delivery Authority to deliver Central Barangaroo. 
This will complete the transformation of the Barangaroo precinct. 
The consortium will be responsible for the design, development and delivery of Central Barangaroo which will be returned to the public as a dynamic and diverse precinct on the foreshore of Sydney Harbour.
The NSW Government chose the consortium to create and deliver a mixed-use, balanced development comprising commercial, retail, residential, public and cultural facilities across the 5.2 hectare site. 
Over 50% of Central Barangaroo will be public open space. It will also serve as a vital connection between the Barangaroo Reserve in the north and Barangaroo South. 
In a unique collaboration, established businesses Grocon, Aqualand and Scentre Group have combined their proven expertise in urban development, residential, commercial and retail experiences. 
The fusion of capabilities and experience of the three companies represents a new dynamic approach to development, bringing the very best in market to work together to provide a world-class outcome. 
The consortium’s successful proposal delivers upon the Barangaroo Delivery Authority’s vision, converting one of Sydney’s last prime waterfront locations into an inspiring new area which takes the best of Sydney today, and amplifies it for all to enjoy for generations to come. 
The construction, to be delivered in stages with overall completion in 2024, will seamlessly integrate the Barangaroo Metro Station, where up to 30,000 people will transit daily.
Grocon’s Executive Chairman, Daniel Grollo said Grocon are honoured to be selected to develop Central Barangaroo and deliver it back to the people.
"We are privileged to be working in partnership with the Barangaroo Delivery Authority and the NSW Government to create a distinctive harbour-front destination for Sydney where public space will take centre stage.
“Grocon has brought together an outstanding group of consortium partners who share a vision to combine civic and cultural attractions with recreational, residential, retail and commercial spaces. 
"The creation of a unifying place between Barangaroo Reserve and Barangaroo South will lay the foundations and shape the city’s future. 
Jin Lin, Aqualand’s CEO, said Central Barangaroo meets a key company objective.
“Aqualand is proud to work alongside the NSW Government and our consortium partners Grocon and Scentre Group to deliver Sydney’s next iconic community. 
"Central Barangaroo meets one of our key company objectives – to deliver long-term, flagship developments that create a legacy for future generations.”
Scentre Group’s CEO, Peter Allen, said Scentre Group is pleased to be part of the winning consortium, alongside partners Grocon and Aqualand. 
"We look forward to expanding on our vibrant retail offer in Sydney by bringing to life this exciting new precinct that encompasses lifestyle, recreation, entertainment, residential, commercial and retail uses.”  
The consortium looks forward to sharing the successful scheme for Central Barangaroo in the near future, when there will be opportunities for comment.
 
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Grocon, Aqualand and Scentre Group awarded Central Barangaroo Precinct

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Casino operator Crown Resorts has announced a string of asset sales, including the disposal of two floors within its luxury Sydney development to James Packer.
James Packer will pay $60 million for two residential floors of the 70-floor Crown Sydney at Barangaroo.
The apartment space is located above the mid-levels in the luxury high rise project that will include a casino for high rollers.
Crown said the sale will be made on the same terms as those entered into with other buyers.
It was sold after approval of Crown's independent directors, the company told the stock market on Wednesday.
Crown has been looking overseas to sell apartments in the ­luxury residential tower. The Australian report, at this stage, Mr Packer's two-floor apartment - located somewhere between the 40th and 50th floor - will be the biggest in the building in terms of square metres, and will feature unprecedented features.
Fashioned by New York-based interior designers, it’s expected the apartment will have Scandinavian bleached birch wood, ripple textured bronze glass, polished blackened stainless steel, leather detailing, and white and silver-veined stone slabs from Greece.
Though the pricing is being kept under wraps, there’s speculation that the penthouse atop the Barangaroo tower, to be branded Crown Sydney, One Barangaroo, could come with a price tag as high as $100 million. 
The record apartment sale stands at $27 million in the Opera Residences development at Circular Quay which sold in November last year on the site of the old Coca Cola Amatil building.
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The wealthy businessman, former chief of Tenix, Robert Salteri and his wife Kelly has since been pinpointed as the $27 million buyers.
The 104 apartments to be built in the old Coca-Cola Amatil building by China-based developers Macrolink and Landream sold out within two hours last November, totalling $500 million worth of real estate.
It was in June 2016 when Crown Resorts secured approval for the $2 billion Sydney casino at Barangaroo.
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Crown had originally targeted a late 2019 completion for the casino with luxury apartments but it is now 2021 as the likely opening date
The Crown company is also selling its 50 per cent interest in the Packer family's luxury Ellerston property in the NSW Hunter Valley to James Packer and his sister Gretel for $62.5 million.
Crown will continue to have access to the golf course and other facilities at Ellerston for its VIP gamblers, in line with its commitment to the NSW government.
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James Packer pays record $60 million off the plan to buy Crown Barangaroo apartment 

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Lendlease has lodged a planning application with the Department of Planning &amp; Environment for an engineered timber office building at Barangaroo South, the second of its kind for the precinct. 
The application proposes a ‘sister building’ to International House Sydney.
The building, if the department approves it following public exhibition, will be Lendlease’s sixth engineered timber building in Australia, joining its neighbour International House Sydney, 25 King in Brisbane, Forte Apartments and Library at The Dock in Melbourne, and Jordan Springs Community Hub in Western Sydney.  
With engineering by Lendlease’s DesignMake business and architecture by Tzannes Associates, which also designed International House Sydney, the design offers a larger floorplan to suit the needs of modern businesses.
It will have ground level retail tenancies and six floors of office space constructed from cross laminated timber and glulam (glue laminated timber), a revolutionary building material which has a structural strength akin to concrete and steel. 
Rob Deck, managing director of Barangaroo South, said Australia’s first engineered timber office building, International House Sydney attracted a lot of interest from the property industry, business sector and general public. 
It was completed this year and has won several design awards. 
“This second such building will be the final opportunity in Barangaroo South for prospective commercial tenants seeking an exciting, sustainable and innovative workplace for their employees,” said Deck. 
The proposed building will be located on Hickson Road in front of Tower 1, International Towers Sydney, and is expected to be completed in late 2019.
The plan proposes total commercial floor space of nearly 10,000 sqm Net Lettable Area and a typical floorplate of nearly 1,700 sqm NLA. 
Lendlease is targeting a 6 Star Green Star Design and As Built rating and at least a 5 Star NABERS Energy Base Building rating. 
It will be serviced by end-of-trip bicycle facilities located in the basement. 
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