Kurraba Residences launch sells $90 million on Sydney’s harbour
Sydney’s latest harbourfront development, Kurraba Residences, saw 70 per cent of the project sold on launch last weekend.
16 apartments within the 24-resident collection sold, with another five buyers currently in negotiations.
Developed by Thirdi group and Phoenix Property Investors, the $170 million development at 147 Kurraba Road offers two and three-bedroom luxury harbourfront residences.
Located on the headland of Kurraba Point, the residences offer 180-degree views of the harbour, including Sydney Opera House and the Botanical Gardens.
Designed by SJB Architects and Mathieson Architects, the building pays homage to the classic 1920s apartment buildings of the area.
Its other features include outdoor balconies, a pool, semi-circular windows, and curved brickwork.
According to CBRE’s Ben Stewart, who is marketing the listing, almost all buyers were owner-occupiers, and included a range of demographics from young professionals to downsizers.
“We believe Kurraba Residences will continue to appreciate in value while under construction, as seen with other landmark Sydney Harbour developments such as Opera Residences”, he said.
Opera Residences has seen recent re-sales increasing 20 per cent on the purchase price over the construction period.
“This a great outcome for early buyers because their property will now be in more demand from those who waited until completion”, Stewart said.
The Kurraba project is expected to reach completion in late 2022.
