One Circular Quay: Sky’s the limit as luxury Sydney apartments take off

After years of under the radar marketing, Lendlease is finally readying to sell opulent properties at its new One Circular Quay units — but it comes at a huge cost.

An artist’s impression of The Hyde’s outdoor ambience.

After years of conducting “under the radar” marketing campaigns at its two luxury towers at Barangaroo in Sydney, developer Lendlease has opened registrations for its new One Circular Quay development to an exclusive database.

But it comes at a cost.

Potential buyers expressing their interest will be required to pay a $20,000 refundable deposit for the opportunity to buy into the 59-level tower with 158 apartments, the developer says – adding that all but one of the units on offer have views of the Harbour Bridge and Opera House.

The offer, via CBRE’s exclusive database, is by invitation only and registrations for the general public start in early 2023, with the on-market sales launch.

The apartments start from $5m rising to more than $60m for the sub-penthouses sporting the top views.

The developer picked up the site from Chinese-backed AWH Investments in July and wants to rapidly start the luxury apartment and hotel project.

The planned three level penthouse could go for about $140m, challenging home price records.

The priceless views expected from The Hyde.

Lendlease set the record in Residences One at Barangaroo when the penthouse sold for $140m, making it Australia’s most expensive residential dwelling.

That precinct, known as One Sydney Harbour, is expected to be completed in 2024 and the second tower has also had a series of high-priced sales.

Rival developer Crown Resorts has also been successful with high-profile sales at its luxury tower. It is believed to be closing in on a sale of the $100m penthouse in its One Barangaroo Crown Residences.

Privately owned developer Deicorp is about to launch a new city project The Hyde Metropolitan on the southern edge of Hyde Park. It is looking to sell a tranche of luxury apartments in the first stage.

It is a harbinger of things to come in the area where China’s Shimao plans to develop another twin-tower project on Hyde Park, while another Asian group, Han’s Holding, has approval for a $3bn apartment and hotel development nearby.

The expected views from on high at The Hyde.

“We have had over 1400 registrations of interest from qualified buyers who want to be amongst the first to inspect the incredible new display suite,” Mr Milton said of the 55-level tower which overlooks Hyde Park.

With 168 apartments over 41 residential floors, the slender form ensures a high level of privacy with just two to four residences per floor. The podium level offers a resort-style pool, leisure deck, sauna and gym, as well as concierge services.

Upper-level residences have their own private foyer and lift access, and the ground level will be home to a high-end restaurant and bar.

It is on the edge of the emerging Tech Central precinct and next to the Surry Hills culinary neighbourhood.

The Hyde will also have a rooftop pool.

“Whether it’s luxury retailers, our famed restaurants, Sydney’s theatres or the historic Hyde Park gardens, Hyde Metropolitan places you in easy reach of the best there is in Sydney,” he said.

Mr Milton said the building would be divided into three separate strata and the penthouse across levels 49 and 50 was likely to set new benchmarks for the area. Their pricing is yet to be confirmed but sub-penthouses range from $12m-$15m.

The apartments will sport high ceilings and full plate-glass windows to maximise natural light and help the internal winter gardens to thrive. Residents can opt for ceiling-mounted televisions so they can be packed away to maximise the views.

The two penthouse levels have 4m ceilings and offer views to the northeast over Hyde Park to the Heads with another aspect of Sydney’s eastern suburbs. In the present release two bedroom apartments start in the high $2m range and three bedrooms start from mid-$4m prices.

Interest is expected from upgraders all around Sydney and those keen to ride the ongoing rerating of luxury apartments.