Crown’s Barangaroo tower in rare air among global penthouses with a view
The pandemic and inquiry into Crown Resorts has apparently not dampened buyer interest in the ultra-luxury apartments in the Barangaroo tower.
Once promoted as the realisation of James Packer’s dream for Sydney, Crown’s hotel, casino and apartment tower has been a tough experience for the billionaire.
But sales of the 82 ultra-luxury apartments that form the top of the $2.2bn tower are being billed as a silver lining for Crown as it battles to hang on to its Sydney casino licence ahead of the scheduled opening in December.
The pandemic and ongoing inquiry has apparently not dampened buyer interest in the ultra-luxury apartments in the Barangaroo tower, which will start welcoming residents from March after a lengthy construction period of about four years.
Crown Residences at One Barangaroo partner Erin van Tuil reports a 175 per cent increase in apartment sales inquiries from the first half of 2019 compared with the first half of this year.
She could not comment on whether the ongoing Crown inquiry into its fitness to hold a licence for the Barangaroo casino had had any impact on apartment buying decisions but revealed 80 per cent of buyers to date were Sydneysiders.
“In terms of our purchasers and the quality and reliability of what is going to be delivered from the beginning, our purchasers have had a lot of confidence in Crown,” she says.
“There are a mix of people in their 20s right up to their 80s,” she said, adding that buyers include families with young children, pre-retirees, retirees, singles and couples.
Prices start from $9.5m for a two-bedroom apartment with a study and parking for one car. There are still two- to four-bedroom apartments for sale.
Crown has sold $650m worth of apartments including four valued at more than $40m each and negotiated 12 deals over apartments worth more than $20m apiece.
It is actively marketing the two-level penthouse which has six bedrooms and ensuite bathrooms with price expectations of more than $100m.
“While we haven’t a price to disclose, I have little doubt that this penthouse will record one of the highest value sales the Australian market has ever recorded, and rightly so,” she said.
At more than 800sq m in size and at 245m above sea level and with 360-degree views of Sydney Harbour, the penthouse has attracted interest from locals and from around the world.
Apart from Crown Residences at One Barangaroo, Knight Frank is marketing multi-million-dollar penthouses in London, Dubai and New York.
“I have seen all of them, I have been on location with all of them, I think ours is exceptional and absolutely of a global standard, but what Crown Residences penthouse has is Sydney Harbour and views which are coveted the world over,” Ms van Tuil said.
“I am always going to be biased for Sydney but all of these penthouses are exceptional, private pools and fabulous outside spaces, they are architecturally beautiful buildings.”
In New York, Knight Frank is asking $US66m ($93.7m) for the Triplex Park Loggia Penthouse 72, which sports three full floors and views over Manhattan’s skyline.
In London, the Centre Point Number One penthouse is for sale with an asking price of £55m ($101m) through Knight Frank’s head of London developments, Rupert des Forges.
The five-bedroom duplex penthouse on levels 33 and 34 has been built within the Grade II listed landmark on Tottenham Court Road.
Mr des Forges said Centre Point had been an iconic part of London’s skyline for many years, but was only now realising its full potential with a total redesign that has seen it transformed into 82 spacious and deluxe apartments.
In Dubai, Knight Frank is marketing the penthouse terrace within The Royal Atlantis Residences on the crescent of The Palm and next door to the Atlantis resort. The residences include two, three, four and five-bedroom apartments.
Price is on application.
“These well designed ultra luxury homes have proved incredibly popular with our international clientele, with two of the three full-floor penthouses already being sold,” said Knight Frank Middle East’s head of residential, Maria Morris.
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