The eight hottest off the plan apartment developments coming to Sydney in 2024
Sydney's off the plan apartment market has been buoyant so far in 2024.
The expectation at the start of the year was that there would be a spike in buyer sentiment with more positive news about inflation and interest rates, and buyers would come flooding back into the sector.
It's not quite panned out that way. With a cut likely pushed into 2025 or further, the spike developers and project marketers were forecasting failed to materialize.
That being said, there was plenty of activity in Sydney's off the plan apartment development space, far-reaching across the whole of the city.
Records were broken in Bondi Beach, while huge, suburb-shaping precincts are being delivered by Sekisui House Australia in Norwest and Deicorp in the Hills District.
Lendlease completed One Sydney Harbour in Barangaroo, home to Australia's most expensive piece of real estate (a $140 million, three-level penthouse). Aqualand also welcomed buyers to its flagship North Sydney apartment development, AURA by Aqualand.
Top Spring Australia, as well as First Quadrant and Qualitas, have enjoyed success at each of their respective multi-stage developments. Top Spring's The Newlands continues to break records in St Leonards, while First Quadrant and Qualitas quickly sold out the first stage of their Willoughby Grounds project, breaking apartment sale prices for the area in the process.
Developers are now waiting on the weather, preparing their marketing material during winter, waiting to push the go button come September and get their projects in market for the famous spring and summer selling seasons Sydney so famously enjoys.
We've taken a look at the best to come for the rest of 2024.
Who: Clutch
Where: 135 – 155 Curlewis St, Bondi Beach
What: Avra, Bondi Beach - 18 luxury apartments above retail
Clutch is set to make a big splash in the Eastern Suburbs market later this year.
As they approach completion of their luxury Bellevue Hill apartment developer MIRA Bellevue Hill, Clutch will launch Avra just 18 luxury apartments at 141-155 Curlewis Street, about 150 metres from Campbell Parade.
Each of the apartments, designed by PBD and with interiors by Woods Bagot, will have three bedrooms, except the sprawling four-bedroom penthouses. Apartment sizes start from over 170 sqm.
The apartments will sit above three new retail tenancies.
Who: Clutch
Where: 440 Edgecliff Road, Edgecliff
What: Margaux, Edgecliff - Eight luxury apartments
Clutch is planning to go back to back in the affluent East. They're looking at launching Margaux, another luxe development in Edgecliff, around the same time as Avra.
Margaux will comprise just eight three-bedroom apartments, not far from Woollahra Village.
There's a huge focus on the interiors at Margaux. Clutch has used Decus, a local interior design firm who has an enviable portfolio working on some of Sydney's finest homes. Margaux will be the first ever mutli-residential off the plan apartment development Decus has worked on.
On offer will be four full-floor, penthouse-style apartments and four split-level apartments, each extending onto generously sized balconies or terraces, positioned to flow from primary living spaces and take advantage of the site's northernly aspect.
A communal open space will include a pool, lounge and outdoor seating. CBRE is marketing both Avra and Margaux.
Who: Abadeen & PERIFA
Where: Putney
What: Putney Wharf Residences - 49 apartments, 18 townhouses, and a 36-berth marina
Fabrizio Perilli's PERIFA is partnering up with Justin Brown's Abadeen to create a new waterfront precinct in Putney, intending on creating a premium mixed-use development on the harbour.
The project, Putney Wharf Residences, spans 15,870 sqm and includes the refurbishment of Halvorsen's boatshed to create a waterfront dining and commercial area, two three-level apartment buildings with 49 one, two and three-bedroom apartments, and 18 four-bedroom townhouses.
Part of the offering development will see 36 new marina berths created.
Joe Tack, Abadeen's Chief Operating Officer, sees the project as a rare opportunity to regenerate a significant infill site with 300 metres of waterfrontage.
Who: Fortis
Where: Onslow & Billyard Avenue, Elizabeth Bay
What: Regency House - 22 luxury apartments
Luxury developer Fortis is set to develop its first project in Elizabeth Bay.
Regency House will home 22 apartments across two buildings that will front two of Elizabeth Bay's best streets, Onslow and Billyard Avenue.
The two strikingly distinctive buildings by Smart Studio will have three two-bed apartments, 18 three-beds, and sole four-bedroom apartment.
Private rooftop terraces for the penthouses of 10 Onslow and 21C Billyard will have barbecue and lounge areas and private pools.
Who: Deicorp
Where: 33 Hope Street, Melrose Park
What: Melrose Central - 494 apartments above mixed-use precinct
Busy Sydney developer Deicorp is turning a 55-hectare patch of dirt just outside of Parramatta into a full mixed-use community.
Deicorp, who are teaming up with fellow developer PAYCE on the huge $700 million project dubbed Melrose Central, engaged Turner Architects to draw up the plans.
Melrose Central will see 494 apartments built across six buildings, above commercial, retail, and medical tenancies at street level and in the podium.
Melrose Central will feature a major supermarket and several specialty stores, as well as outdioor dining spaces and health and wellness facilities. It will be well-connected to the rest of Sydney with the second stage of the Parramatta Light Rail to run right outside.
Who: DASCO
Where: Waterloo
What: Mixed-use precinct with 373 apartments and 17 retail spaces
Builder developer Dasco is looking to launch their recently acquired Waterloo masterplan.
DASCO, a 4.5-star iCIRT-rated builder, secured a 1.7-hectare site at 903-921 Bourke Street, a former industrial site on the corner of Bourke, McEvoy and Young streets, from Melbourne developer Dahua earlier this year.
It was sold with development approval for a new mixed-use precinct with around 370 apartments and retail and commercial spaces.
The plans submitted by Dahua Group in 2022
The six new buildings, not including the two heritage-listed buildings that will be restored, will be focused around a central plaza with retail space and new parks with lush landscaping and multiple public art installations.
Two buildings will flank Young Street, one being the tallest tower proposed. Described as a stepped tower with family-targeted terraces that address the park, the building will have 147 apartments across its 20 levels.
Next door will be a six-storey plaza building with 23 apartments, defined as "quirky" by Bates Smart, while along Young Street there will be two other buildings, one with 21 apartments and the other with 32 apartments, designed by Richards and Spence who worked in collaboration with Bates Smart on the tower and the plaza.
The plans submitted by Dahua Group in 2022
"The quirky 6-storey plaza building defines the heritage square, with clear reference to the industrial brick buildings of the past," the design statement as part of the 2022 development submission noted.
There will be a further two buildings facing Bourke Street, designed by architect MHNDU in collaboration with Fieldwork. They will have a combined 150 apartments, taking the total number of apartments across the precinct to 373 apartments.
Who: Orosi
Where: 1 The Avenue, Rose Bay
What: 50 luxury apartments next to Royal Sydney Golf Club
Eastern Suburbs developer Orosi is taking on its largest project to date, which will also be one of the largest the affluent Rose Bay has seen in years.
The integrated developer, who serves as both the architect and builder of its projects, will be launching the new development in the coming months, some 50 two and three-bedroom apartments across a structure that ranges from four to five levels.
There will be 34 two-bedroom apartments and 16 three-bed apartments.
Orosi, led by Founder and Managing Director Hamid Samavi, secured the vast 3,000 sqm gateway site, a two year-long amalgamation of several lots over The Avenue, Old South Head Road and William Street, last year.
The building, across the road from the Royal Sydney Golf Club, will be divided into two adjacent, inter-connected buildings to reduce its overall bulk, setting back the development from The Avenue and William Street boundaries.
"The apartments are on the larger side, so they will suit a wide range of demographics, not just downsizers," Samavi told Urban, adding that the vision is to create an iconic landmark that serves as a welcoming gateway to Rose Bay.
"OROSI Rose Bay will set a new benchmark for architecture and sustainability in The Eastern Suburbs, featuring state-of-the-art facilities and curated retail spaces, including a Kosher café, an organic restaurant, and Sydney’s most iconic wellness centre," Samavi said.
Who: Level 33
Where: 19-21 Bourrool Street, Kiama
What: 21 luxury three-bedroom apartments
Prominent Wollongong developer Level 33 will be launching its first development in Kiama.
PBD designed the four-level building with just 15 apartments above two levels of basement parking at 19-21 Bourrool Street, at the south end of the Kiama Surf Beach.
The proposed residential flat building is designed to respond cohesively to the existing and desired future character of the neighbourhood streetscape with appropriate build form and material palette that respond thoughtfully to the immediate context.
The 15 three-bedroom apartments are inline with the apartment sizes within the area, architect PBD suggests. They said the proposal reflects current market demands in relation to typologies and living patterns in the local area.
They have another project in Kiama, having acquired the Akuna St car park for $28 million last year. They’re planning a shoptop development with 82 apartments above a retail precinct with 24 tenancies, two major supermarkets, and 344 basement car parking spaces.
