Lendlease Residences One & Two hit 83 percent sold at Barangaroo South

Lendlease Residences One & Two at One Sydney Harbour have hit 83 percent sold.

The company updated the sales tally in an ASX half yearly report.

There have been 530 of the 637 apartments sold for $3.1 billion.

In mid-2021 Lendlease announced the establishment of a joint venture with Mitsubishi Estate to deliver Residences Two, the second residential tower at One Sydney Harbour, Barangaroo.

Mitsubishi Estate already held a 25 per cent interest in Residences One at One Sydney Harbour. 

Rising 235m above Sydney Harbour, Residences Two, has an estimated value of $1.7 billion.

It will comprise 322 apartments across 68 levels. 

Its initial off market sales campaign, followed by the 2021 public sales launch, saw pre-sales on the project sit at 59 per cent last July.

Construction of Residences Two is expected to be completed by mid to late 2024. 

One Sydney Harbour, comprising three residential towers, is the final piece in Lendlease’s award-winning, mixed use, carbon neutral precinct, Barangaroo South.

Residences One hit 85 percent sold in May last year, having been launched in  2019 when a record $140 million was paid for its penthouse.

Lendlease will soon release One Sydney Harbour’s third and final residential tower, Watermans Residences, which will sell on-market priced from $1.42 million for a one-bedroom apartment. 

“This exceptional $3 billion milestone in sales for our Residences One and Two is a testament to the strength and resilience of the Sydney residential market and speaks to high demand of local owner-occupiers and downsizers who recognise this once-in-a-generation opportunity," Tom Mackellar, managing director Development, Lendlease said.