Securing a waterfront lifestyle has become harder than ever
There’s a growing scarcity of places to moor your yacht on Sydney Harbour. Now, developers are cashing in on the competition.
Sydney’s chronic shortage of private marina berths is giving new waterfront developments a competitive edge, with properties offering berths on title attracting strong interest from buyers.
Last year’s launches of Putney Wharf Residences, Corsa Mortlake and The Moorings at Newport are tapping into this pent-up demand, with the convenience of securing a waterfront lifestyle and marina access a significant drawcard.
Secure your copy of the February issue of Mansion magazine this Friday February 28, inside The Australian.
The sale of both new and used boats across Australia each rose 16 per cent respectively in the last financial year, with NSW ranking as the second-largest state for boat ownership and usage behind Queensland. Many Sydney marinas have no available berths, while some of Sydney Harbour’s most sought-after private mooring spots also face extensive waiting lists, with numbers exceeding 100 applicants in certain locations.
The Aberdeen-developed Putney Wharf Residences, designed by architects SJB, will transform a historic site on the Parramatta River with 67 apartments, 18 three- and four-storey terraces, the restored Halvorsen Boatshed, and a 37-berth private marina. The combination of heritage restoration and contemporary design, along with direct access to a 300m stretch of waterfront, has proved an attractive proposition for downsizers, particularly those from nearby suburbs such as Gladesville, Putney, Hunters Hill and Strathfield.
“The ability to create a marina as part of a mixed-use project makes it even more attractive,” says Aberdeen CEO Joe Tuck. “Even non-boat owners are drawn to the lifestyle offered by the waterway activity, with amenities such as a cafe and outdoor seating enhancing the community feel.
“We knew there would be downsizer buyers interested not only in an apartment but in an apartment and marina berth, but what that likely take-up would be was harder to predict.
“It’s fair to say overall the sales take-up has exceeded our expectations.”
Stage one has seen 24 of the 34 apartments sold, with 10 still available. Of the 36 marina berths, 16 have been purchased, with 80 per cent of berth buyers also securing an apartment. Buyers are now awaiting the release of the limited three-level terraces later this year.
“It’s the first major waterfront development in Putney for years. Downsizers appreciate the opportunity to stay connected to their community while enjoying a brand-new lifestyle precinct and living on the water,” CBRE senior director of residential sales Tim Rees says, having completed $120m in sales during launch weekend.
To address the strong demand for berths on Sydney Harbour, developer MADE Property incorporated a 23-berth private marina into Corsa Mortlake, a boutique project comprising 20 luxury apartments. Prices for the apartments start at $4.95m, with berths available exclusively to residents from $585,000.
Designed by SJB, the development has attracted a mix of downsizers and boating enthusiasts, with 13 apartments sold since its launch and construction in progress.
In Sydney’s north, The Moorings at Newport features eight home sites, each with a private marina berth. Developer Fenbury’s vision for the former marina site includes four substantial waterfront lots, up to 1100sq m, and four street-front lots, with the opportunity to customise a luxury home designed by architect Scott Carver.
Civil works are almost complete and interest in the project is increasing. Prices range from $4.75m for land and marina berths, and from $6.5m for completed homes with street-facing lots, to more than $15m for waterfront properties, all with direct marina access.
“As a boatie myself, I understand the appeal of a berth tied directly to your property,” Domain Projects sales agent Stephen Bennett says.
“It’s a rare offering that aligns with the aspirations of downsizers moving from larger homes to waterfront lifestyles.
“The ability to combine custom luxury with marina access is a once-in-a-lifetime opportunity for many buyers.”
Interest has been strong among affluent buyers, particularly those downsizing from the Upper North Shore. The ability to accommodate larger powerboats, up to 22 metres, further enhances the project’s appeal.
This story is from the February issue of Mansion magazine. Out this Friday February 28 inside your copy of The Australian.
