Developer Antony Catalano invests $25m into The Bonobo by Raes
Since his Raes group became involved in the joint venture with Podia and the Centennial Property Group, up to half of the 41 hotel/apartments are either sold or under offer.
Property developer and Raes on Wategos ownerAntony Catalano is investing more than $25m of his own funds into the new The Bonobo by Raes development in Byron Bay, including taking 800sq m of retail, buying management rights, fit-outs, plus the purchase of a couple of apartments.
Catalano reports that since his Raes group became involved in the joint venture with Podia and the Centennial Property Group, up to half of the 41 hotel/apartments are either sold or under offer as Sydney and Melbourne buyers clamour to buy into the hotel and residential offering in Byron’s Jonson St.
“Given Raes operates on 100 per cent occupancy year around there’s a fair degree of interest, you can accommodate a whole family or multiple couples in these apartments,’’ Catalano says. Michael Coombs of Atlas, who is handling the marketing, says the average sale price is around $2.8m.
Publisher turns the page
Described by industry sources as a youngish publishing executive, Wen Chen has forked out about $28m to purchase a lavish arts and crafts mansion fronting 26 Albany Rd, Toorak from Ross and Gina Copeland.
Forbes Global Properties marketing agent Mike Gibson had an asking price of $27m to $29m on the prized Melbourne property on 2400sqm-plus of land with five bedrooms and four bathrooms. He declined to comment on Wen Chen’s purchase. It is understood the publisher will undertake a renovation of the property, which has a swimming pool and tennis court. The six-week marketing campaign attracted strong interest.
Towering apartment sales
Lendlease’s One Sydney Harbour residential development is now more than 90 per cent sold, with more than $3.7bn in sales across its three towers, as the project completes its highest point — the 72-level Residences One tower.
Construction is continuing on Residences Two and Watermans Residences, with the One Sydney Harbour precinct slated for completion in 2025.
The three-level penthouse sold for $140m. The units in the Residences One tower are 96 per cent sold. The company declined to reveal the identity of any of the buyers.
Meanwhile, apartments in Blackstone’s Barangaroo complex continue to sell, with another Chinese buyer, known as Lin, purchasing a 201 sqm unit for $10.3m. The $100m-plus penthouse in the 82-level tower remains on the market.
New chapter for author’s studio
Author and editor Peta Lyn Farwagi is expecting $475,000 to $520,000 for her Potts Point one-bedder in Sydney’s eastern suburbs, which she has just listed through McGrath Paddington.
Positioned in an updated art deco building in Hughes St, the ground floor studio has been fully renovated. McGrath selling agent Fraser Turvey says the apartment, one of 12 in the building, has a shared rooftop.
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