Harbour views on offer in North Sydney’s newest luxury tower
A new $240m residential tower overlooking Sydney Harbour will transform North Sydney’s skyline, featuring 161 luxury apartments with decade-long defect protection.
Private residential developer ALAND is steaming ahead with plans to build a 30-level residential apartment tower in North Sydney, overlooking Sydney Harbour.
All up, 161 apartments will be built on the development-approved site, which was purchased in June for around $240m from a consortium comprising super fund Cbus, Neil Werrett’s Galileo Group and Justin Brown’s Abadeen.
Marketing agent SRM director Ben Stewart said one-bedroom apartments in the project, known as The Walden, would start from $1.3m, two-bedroom units spanning between 92sq m and 108sq m would be priced from $2.4m and three-bedroom units comprising around 150sq m of space would be priced from $5.25m.
Four-bedroom apartments, spanning between 190sq m and 226sq m, will start at $8.5m. The building will feature three sub penthouses and one penthouse, which are yet to be priced.
The tower is about 200m from the new Victoria Cross Metro Station. Car spaces will be provided for most apartments with two-bedders getting one space, three-bedders two spaces and four-bedders three spaces.
Mr Stewart said more than 80 per cent of apartments would have views back to Sydney Harbour, the Sydney Harbour Bridge and Opera House, adding that he was expecting most apartments to be purchased by owner occupiers given North Sydney’s recent transformation, adding that many purchasers would probably hail from the Upper North Shore.
“All apartments come with storage and have house-sized living areas with lovely winter gardens. All rooms in the three-bedder apartments have views because of the way the building is orientated,” he said.
“We believe North Sydney has come alive of late with new restaurants – there’s been a big transformation,” Mr Stewart added.
Demolition of the existing building on the 177 Walker Street site has commenced and Mr Stewart said the developer had taken out extra insurance for defects and liabilities, known as Latent Defects Insurance for apartment buyers. “This will last for 10 years and reduces strata costs by 10 per cent,” Mr Stewart said.
“There will be no surprises to increase strata levies; that’s a great comfort to buyers,” he said.
All apartments will have Wolf and Gagganeau appliances, with the building served by three lifts.
Nearby, at Aqualand’s development of 380 apartments known as Aura, Mr Stewart said 85 per cent of the units had been sold by him with an average sale price of about $4m.
Meanwhile, apartments in The Walden, which has been designed by Rothelowman, will feature winter gardens or balconies, marble finishes and a choice of three interior schemes, known as Terrace, Opera or Harbour.
ALAND owner and founder Andrew Hrsto said buyers could decide on the marble finishes, with colours ranging from earthy, to pastel and a green shaded stone.
The Walden will capitalise on its elevated position adjacent to the eastern fringe of the North Sydney CBD, and will offer uninterrupted Sydney Harbour views. The project will include a resort-style three-level wellness area with residents-only lounge.
“The Pavilion” will offer a concierge 14 hours a day, a 20m pool and sundeck. There will also be a wellness studio, gym, and sauna.
Construction is expected to start next January with completion in early 2028.
One of Australia’s larger private developers, the low-profile ALAND is presently building unit towers across Sydney in Gosford, Harris Park, Schofields and Edmondson. It has also picked up projects in Castle Hill and Parramatta out of the empire of fugitive developer Jean Nassif.
It is understood ALAND had been looking for a city site for some time, with the East Walker Street site purchased in an off-market deal.
In a statement in June, ALAND said it would deliver a world-class luxury residential project following the acquisition of the site fronting 173-179 Walker Street and 11-17 Hampden Street.
Mr Hrsto says that East Walker Street would be a once-in-a-lifetime opportunity for buyers including empty nesters, families, and professionals.
“That’s the target market,” Mr Hrsto said.
“We have been searching across Sydney for at least 18 months, trying to find a dream site which would allow ALAND to create a stunning luxury offering for buyers reflecting our commitment to the highest-quality product featuring world-class finishes.”
About 80,000 workers are expected in North Sydney by 2036 with plans to usher in a new generation of homeowners, businesses and visitors and transform it into a second CBD.
Display suites of the two- and three-bed apartments are located at 124 Walker Street, diagonally across from the development.
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