Offshore focus pays off for Barangaroo Tower sales
Heavy marketing across cities such as Hong Kong has paid off for the marketers of James Packer’s $2.2 billion Barangaroo Tower in Sydney.
Heavy marketing across cities such as Hong Kong has paid off for the marketers of James Packer’s $2.2 billion Barangaroo Tower in Sydney with overseas buyers figuring heavily as the major purchasers, according to the latest public documents.
While Mr Packer is yet to settle the acquisition of his $60 million two-level apartment, as the unit is yet to be completed, according to senior sources, other buyers are further advanced.
Southeast Asian-based French retail heir Georges Furone-Defforey has settled his $12.74 million purchase of a luxury apartment at the Crown Towers, according to public documents released this week.
Mr Furone-Defforey is one of nine buyers at One Barangaroo Crown Tower who have collectively spent nearly $120 million acquiring opulent units in the latest tranche of purchases. All up, $870 million worth of apartments in the One Barangaroo tower had sold when the latest Crown figures were released in February, substantially up from the $650 million in sales the casino operator reported a year ago.
Other recently completed purchasers include Nathan Ung, who has spent $13.1 million on an apartment at Crown Towers with a mortgage to Hong Kong’s OCBC Wing Hang Bank, the Lee family spending $10.45 million, the Gu and Lam families who have purchased for $11.6 million and the Au-Yeungs and Chengs who splashed out $12.5 million on a waterfront apartment. But by far the highest purchase price in the latest tranche of buyers is the $20,565,118 spent by Xiujuan Ma and Guohua Yan – with a Westpac Bank mortgage in place – a purchase price which obliterates the $12.05 million spent by a couple known as the Cao and Xu family, also on an apartment in the tower.
The Weekend Australian has already revealed entrepreneur Luke Hepworth, who heads a family dynasty supplying personal protective wear and hand sanitisers, had just paid $9.4 million for an off-the-plan apartment in the soaring Barangaroo complex. Mr Hepworth has purchased a two-bedroom, two-bathroom apartment in the striking Sydney tower overlooking Sydney Harbour, according to publicly available information.
Hepworth Industrial, based at Ingleburn in Sydney’s southwest, manufactures and imports personal protective equipment, apparel and hand hygiene products supplying companies including Honeywell, Ansell and King Gee, according to its website. Hepworth declined to comment.
Tony and Evelyn Lin have forked out $28.8 million for a 500sq m-plus apartment at Barangaroo, while Zening He and Mi Yi Li have spent $14.48 million with a mortgage to NAB.
Yang Li and Ning Wang bought a $12.85 million apartment in the complex with a mortgage to Commonwealth Bank.
Apartment prices in the One Barangaroo tower – which features 50 different types of marble sourced from all over the world – start at $9.4 million for a two-bedroom, two-bathroom unit through sales agent and Knight Frank partner, Erin van Tuil.
Queensland businessman and former Rothschild & Co investment bank chairman Trevor Rowe was one of the earlier purchasers. Rowe paid $13.5 million for a three-bedroom apartment on level 43 of the 77-level Crown Residences.
The new sales data reveals retired bookie Bob Blann paid $41 million for his unit in the Barangaroo tower, settling the sale on March 21 and relocating from an apartment in Rose Bay in Sydney’s eastern suburbs.
Apartments start from about $9.4 million for a two bedder and it is understood there is still a $100 million-plus penthouse available for purchase.
