Sydney downsizers show healthy interest in Top Spring’s Ode complex in Double Bay

It might be a softening market, but Sydney downsizers are already showing appetite for a new luxury apartment project even though prices start at a hefty $10m.

Ode, Double Bay, designed by architect Luigi Rosselli, will include three-bedroom apartments, four-bedders and three penthouses, priced up to $25m.

It might be a softening market, but Sydney downsizers are already showing appetite for a new luxury apartment project even though prices start at a hefty $10m.

Hong Kong developer TopSpring has 15 apartments, some with harbour views, slated for its five-level Ode development in Double Bay’s Cross St in the heart of the Eastern Suburbs.

“In a couple of weeks’ time we will most likely hit our pre-sales target required by our financier,” TopSpring managing director Sydney Ma said in an interview with Mansion.

Buyers from Sydney’s wealthiest suburbs such as Point Piper, Vaucluse, Centennial Park, Dover Heights, Bellevue Hill and parts of the North Shore have already shown interest according to Ode’s marketing agent Brad Caldwell-Eyles of 1st City Real Estate Group.

Designed by architect Luigi Rosselli, the project will include eight three-bedroom apartments, four four-bedders and three penthouses, which are priced at up to $25m. Mr Caldwell-Eyles said the minimum strata levy will be $5500 a quarter rising to $11,000 a quarter for the $25m penthouses. The charge includes a concierge, who will make reservations for events and dining, organise dry cleaning, receive deliveries and co-ordinate access for cleaning and maintenance. The concierge will be available Monday to Friday from 8am to 6pm as well as eight hours a day on weekends.

TopSpring has 15 apartments, some with harbour views, slated for its five-level Ode development in Double Bay’s Cross St.

Mr Ma said he was not worried recent inflation hikes would deter buyers saying he is targeting downsizer buyers, “a market that is not subject to fluctuations in interest rates”.

“We have just started the marketing campaign, we have had a very good level of interest and we will be looking at marketing internationally very soon. (But) we believe the local market is what we want to aim for and is a market that will really appeal.”

Mr Caldwell-Eyles said apart from the Luigi Rosselli design the would-be purchasers love Ode’s position in the heart of the Double Bay Village and the fact the top floor apartments will sport harbour views.

“All of these downsizers are from established homes, they are very focused on quality and design and love the position right in the heart of the village … none of the other developments have harbour views,” he said.

Apart from the 15 apartments there are three retail lots and Mr Caldwell-Eyles said there are buyers already “very serious” about acquiring them.

Occupying a prominent corner site fronting 19-27 Cross St, Ode is directly linked to a proposed public plaza with street-level dining, cafes andbars.

Kitchens come replete with stone islands, Wolf and Sub Zero appliances and walk-in pantries

In a statement Mr Rosselli said his design echoes the modernist architectural style of Oscar Niemeyer, Gio Ponti and Le Corbusier.
“… a positive, optimistic response to the global re-emergence into the 1950s.

“I feel, post-pandemic, that it’s the perfect opportunity to revive their joyful approach, boldly embracing innovation and asymmetry in the fusing of organic shapes, geometric forms and sinuous lines,” Mr Rosselli said.

The internal floor plans range from 219sq m to 311sq m with the harbour views available on levels four and five. The kitchens come replete with stone islands, Wolf and Sub Zero appliances and walk-in pantries. There are wine cellars or wine walls adjoining the kitchens while the bathrooms feature stone vanities.

The penthouses feature rooftop terraces, including a BBQ, spa, entertaining areas and spectacular views of Sydney Harbour.

The kitchens offer two joinery colours and three stone options, with more selections for penthouses. Floors can be timber or travertine, with a choice of two stones for bathrooms and powder rooms. The finish to the neutral, organic interior palette includes touches of brass, travertine, Venetian plaster, fluting, bronze and concrete ceilings in penthouses.

Construction of Ode is expected to commence in the first quarter of 2023 with a proposed completion date by early 2025.