Barangaroo

The higher demand for new super-prime apartments has prompted a 36 per cent value lift since June 2015, outperforming the established apartment market, according to recent Knight Frank research.

There had been a 31 per cent increase in established apartment values across the major cities in the same period.

However Sydney was the only city to buck the trend with its older stock up by 48 per cent compared to 30 per cent for new apartments, with limited new luxury products being launched across Sydney.

Knight Frank defines super-prime as the top 1 per cent of each market by value &ndash; a threshold of more than $10 million in Sydney and Melbourne and $7 million in Brisbane, Perth and the Gold Coast.

Sales of luxury apartments worth more than $10 million surged during the first half of 2021, compared to the decade average, the Knight Frank research shows.

The report calculated 67 super-prime luxury apartments changed hands around the nation, although the majority were at Crown Residences at One Barangaroo.

<img alt="" height="666" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_2.jpg" width="1200" /> 
Inside the One Barangaroo penthouse

&ldquo;The first half of 2021 was the first time it&rsquo;s been possible that exchanged sales in the super-prime Crown Residences at One Barangaroo have been captured within the total residential sales volume by our research team,&quot; aid Michelle Ciesielski, Knight Frank&rsquo;s head of residential research.

&ldquo;What we saw in this time was the top five super-prime apartment sales in Sydney average $39 million, and four of these five apartment sales took place at One Barangaroo - reflecting the demand of our ultra-wealthy population for super-prime luxury homes in the sky.&rdquo;

&ldquo;The widening gap between buyer demand and appropriate property supply remains concerning, and residential construction difficulties continue to delay delivery of new products,&quot; said Michelle Ciesielski.

<img alt="" height="638" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_living.jpg" width="1200" /> 
Inside the One Barangaroo penthouse

&ldquo;The shortage of suitable product, particularly at the top end of the market where rightsizes play, has been exacerbated by developers unable to easily secure sites in prime locations adding to the highly pressurised buying environment across Australian cities.&rdquo;

When it comes to prime residential, generally defined as the top 5% of each market by value across Australia, Knight Frank&#39;s latest report advised Sydney saw the greatest rise in apartment prices, some 10.6 percent, followed by 10 percent in the Gold Coast.

Knight Frank definition of prime sees a threshold of more than $3 million in Sydney and Melbourne and $2 million in Brisbane, Perth and the Gold Coast.

Prime price apartment prices increased 3.2% in 2020 to $25,500 psi, ranging from $13,000 psm to $65,000 psm.&nbsp;

Values for new apartments have jumped by 36 per cent since June 2015

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One Barangaroo leads as super-prime apartment off the plan sale prices strengthen

Developer Aqualand has commissioned UK architect, Sir David Chipperfield, to design its Barangaroo Central project.

It is the British architect&#39;s first commission in Australia for the firm, David Chipperfield Architects, which was founded in 1984.&nbsp;

It is the final project site within Barangaroo.

Designed to act as a &quot;bridge&quot; between the headland park and the more intensively developed commercial district, Central Barangaroo is the lower density final stage of the NSW government&#39;s $8.7 billion Barangaroo urban renewal project.

<a href="https://www.urban.com.au/developments/sydney-nsw?source_news_article_id=107246&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_sydneycbd_4.png" width="1200" /></a>

&quot;We want to make an architectural project which belongs there, enjoys its site and climate, and we&#39;ll endeavour to make a building that seems to be right for the site,&quot; Chipperfield told The Australian Financial Review Magazine.&nbsp;

The buildings will include an apartment tower, offices, and retail.

The apartment tower will be capped at 19 storeys.

Barangaroo Central, perched above a new metro station, will also have entertainment and civic venues, and high-end retail stores.&nbsp;

Local architectural practices Durbach Block Jaggers, Smart Studio Design and John Wardle Architects are also involved in the project within close proximity of the historic Millers Point and Observatory Hill.&nbsp;

Rod McCoy, Aqualand&#39;s Central Barangaroo development director, said he approached Chipperfield because of his buildings&#39; &quot;timeless elegance&quot; and &quot;understated sophistication&quot;.

Chipperfield undertook the refurbishment of the Neues Museum in Berlin.&nbsp;

It has offices in London, Berlin, Milan and Shanghai.

[smartcode_project:default project_id=5770 project_image_fid=24110]

Developer Aqualand has appointed Sir David Chipperfield as the architect to design their Barangaroo Central project

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Sir David Chipperfield to design Aqualand's Barangaroo central project

The video marketing for the One Barangaroo penthouse has gone live.

The 8101 apartment video creators advise "the residence is a milestone in Australian, and indeed global, real estate."

It's been listed by Knight Frank.

The penthouse spans two full floors with over 800 square metres space.

At 245 metres above sea level its offers multiple entertaining areas with over 6-metre high floor to ceiling windows.

<img alt="" data-entity-type="" data-entity-uuid="" height="704" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_4.jpg" width="1200" />

There are five bedrooms, all with ensuite bathrooms.

The master suite comes with large walk in robes, twin rain shower and steam room, separate office, private plunge pool, cinema room, gym, and over 50sqm of open air space across three protected balconies.&nbsp;

A feature staircase connects the two floors, as does a private internal lift.

The interiors – designed by New York outfit Meyer Davis – take advantage of the lofty, light-filled spaces and feature light European oak flooring throughout, accompanied by plush carpets in the bedrooms.&nbsp;

The penthouse boasts private plunge pool, the only residence in the building.

<img alt="" data-entity-type="" data-entity-uuid="" height="643" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/one_barangaroo_pool.jpg" width="1200" />

There is also access to the resident’s pool on level six, hotel pool on level five, and spa designed by Blainey North.

This exclusive sale is being managed by Knight Frank. The four minute video was produced by Golden Eye Media.

James Packer’s $60 million purchase ranks as the building's priciest deal, secured in 2017 for a two-storey apartment.

<img alt="" data-entity-type="" data-entity-uuid="" height="654" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/crown_baragaroo_3.jpg" width="1200" />

It was 2019 when there was a deal next door, worth more than $140 million for the most expensive residence in Australia, when the top three floors of Lendlease’s One Sydney Harbour at Barangaroo South were sold off the plan.

The sale includes the two-storey penthouse atop the Renzo Piano-designed building and a sub-penthouse directly below.

Completion is expected in late 2023.

The Boyd penthouse in the ANZ tower in the Sydney CBD recently sold for $60 million.

There has been no price guide given on the One Barangaroo penthouse.

But Knight Frank's latest Prime Global Forecast 2021/2022 shows that globally, luxury residential prices are forecast to rise faster than envisaged, and that Sydney is the world’s leading city for Knight Frank’s 2021 prime forecast, with luxury prices in the city expected to rise 10% over the next year. 
&nbsp; 
Lockdowns and the COVID pandemic haven’t yet had a negative impact on Sydney’s luxury property market – in fact, they are carrying it from strength to strength, with wealthy Aussies purchasing luxury properties domestically instead of overseas. 
&nbsp; 
The report shows Sydney is the leading global city for prime price forecast in 2021, with luxury prices expected to rise in Sydney by 10% over the year.

Sydney will continue its reign in the top spot in 2022, when, together with London, both cities are forecast to see prime prices accelerate 7% year-on-year.

The first quarter of 2021 saw 1,429 prime sales recorded in Sydney – the highest quarterly figure on record for the city. Despite recent lockdowns, momentum is being maintained.

Spanning two full floors and at over 800 square metres, the penthouse comes with over 6-metre high floor to ceiling windows

One Barangaroo penthouse video marketing gives inside look

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Lendlease's Barangaroo South has welcomed the precinct’s first retailer, Toby’s Estate in the precinct known once as the Hungry Mile.
Lendlease managing director of Barangaroo South, Andrew Wilson said more than 8.5 million construction hours had transformed the former container wharf into the makings of Sydney’s newest financial services hub and foodie destination.
“What has been achieved at Barangaroo South since the first sod was turned in October 2011 is extraordinary.
Its International Towers Sydney (ITS) will have over 23,000 office workers.
Toby’s Estate is the first of up to 90 retailers on site and is well positioned in the lobby of Tower Two.
In addition, the Barangaroo South foreshore has reopened for public access. The Hungry Mile was the name waterside workers gave to Darling Harbour East in the Depression.
The final fitout for Westpac Group, the anchor tenant of Tower Two, will continue throughout July in anticipation of the first employees joining the precinct from next month.
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Hungry Mile turns to Toby's Estate in Barangaroo South tower

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Luxury apartments at the One Barangaroo casino, hotel and residential project on Sydney Harbour will start at $9.5 million.
Making it Australia’s most expensive apartment tower, Crown Resorts executive vice-president strategy Todd Nisbet told The Australian that already a quarter of the 82 apartments had been “spoken for” ahead of its launch.
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Sale agreements include tycoon James Packer’s record $60 million purchase of two-storey apartment midway through the 30 levels.
The $2.2 billion complex is being built by the James Packer-backed Crown Resorts.
The apartments start at level 30 below which is the six-star hotel
The largest is the top duplex penthouse at 800sq m.
The tower’s marketing director, Erin Van Tuil, said the apartments had been benchmarked against projects in global cities such as London, New York, Hong Kong and Singapore.
"The residences are very international," the sales' marketing suggests.
The architect suggests 10 years ago a development like One Barangaroo would have been nearly impossible. 
"That’s mainly because of the technology – it’s quite advanced. 
"We’ve got a lot of double curvature surfaces, which you couldn’t have done in the past."
The only other reported sale was to the former bookmaker Bob Blann at more than $40 million for a whole-floor apartment.
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<img src="https://static.domain.com.au/domainblog/uploads/2018/02/24001648/2_h0wh4b.jpg" alt="An artist's impression of an apartment in One Barangaroo, which is part of Crown's casino development." width="1500" height="843">
Blann has exchanged on a 515-square-metre apartment on level 61, equating to a bullish $77,670 per square metre for the western corridor apartment location.
<img src="https://static.domain.com.au/domainblog/uploads/2018/02/24001652/2_h0wh4a.jpg" alt="An artist's impression of a bathroom in the 70-level casino development." width="1500" height="842">
Of the 80 residential apartments on offer, only three are whole-floor offerings, including Blann’s on level 61 and two immediately above it.
Each successively higher apartment is an average of 20 square metres smaller than the one below.
James Packer’s apartment is understood to be between level 40 and 50 of the 70-level tower.
Both sales have smashed the previous national apartment price record of $27 million set in late 2016 for one of the penthouses in the Opera Residences development at Circular Quay.
 
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Luxury apartments at One Barangaroo to start at $9.5  million

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Barangaroo South has been named Australia’s development of the year at a national property awards ceremony held last night.
Lendlease took home the RLB Australian Development of the Year prize at the Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards. At the awards, 137 finalists competed for national recognition in 20 categories.
Considered Sydney’s largest urban renewal project, will house 23,000 office workers, 2,000 residents, a six-star hotel and 80-plus cafés, bars, restaurants and retail outlets across more than half a million square metres of space upon its expected 2023 completion.
Barangaroo South took also won the WSP Award for Best Sustainable Development – New Buildings, the Liberty Steel Award for Best Mixed Use Development, and the Eagle Lighting Australia Award for Best Workplace Project.
“Barangaroo South is a truly iconic international project which has recalibrated the way Australians think about precinct-scale urban renewal,” says the Property Council’s Chief Executive, Ken Morrison.
“Lendlease has combined iconic buildings designed by acclaimed architects with world-leading sustainability initiatives that have transformed entire supply chains and challenged large tenants to embrace green business practices.”
“Barangaroo South also throws down the gauntlet to governments around Australia by showing when density is done right, it delivers.”
Other winners included:
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<li>Mirvac's EY Centre was presented with the SAS International Award for Best Office Development;</li>
<li>Quantity surveying firm Slattery took home the PwC Award for Diversity for companies with less than 250 employees;</li>
<li>Cushman &amp; Wakefield won the the Moulis Legal Award for Diversity for companies with more than 250 employees;</li>
<li>Rebecca Fitzgerald, a senior mechanical engineer with WSP, was awarded the du Chateau Chun Award for Future Leader of the Year. </li>
<li>The S4B Studio Award for Best Heritage Development was taken out by the Old Clare Hotel in the Sydney suburb of Chippendale. </li>
<li>The Equiem Award for Best Project Innovation was presented to Project REDDA, an end-to-end real estate due diligence solution that automatically detects key risks in leases.</li>
<li>The Tonsley Innovation District in South Australia was presented with the KONE Award for Best Development Innovation for cultivating high-value manufacturing, leading-edge research and emerging industries.</li>
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Barangaroo South wins development of the year award at PCA ceremony

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The prime Barangaroo harburside location of the current dining sensation, Noma Australia pop-up has already been leased to award-winning restaurateur, Brent Savage, the Sydney Morning Herald Good Food Guide 2015 Chef of the Year, and the sommelier and restaurateur Nick Hildebrandt.
They have signed a lease for the space for a yet-to-be-named seafood restaurant that will open in September at the base of the white, cloud-shaped Anadara building in the Lend Lease built precinct.
The building was designed by FJMT’s Richard Francis-Jones.
‘‘We’ve long toyed with the idea of a seafood-focused restaurant,’’ Savage told The Australian Financial Review.
Barangaroo is credited as set to have the biggest collection of food and beverage retailers in Australia, according Lendlease.
There will be a three storey restaurant headed by celebrity chef Matt Moran whispered to have the working title, Mash.
Gary Horwitz, the head of retail development and asset management for Lendlease, said Sydney-siders are very familiar with their restaurants, Bentley, Monopole and Yellow.
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Brent Savage and Nick Hildebrandt to take on Noma, Barangaroo space

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The chef Matt Moran has announced he will open a three-storey restaurant in the harbour-front Barangaroo precinct.
Lend Lease unveiled plans for the restaurant, which will be Moran's seventh Sydney restaurant.
Moran will work with his business partner Peter Sullivan from MorSul and Bruce Solomon and Anna Solomon from Solotel.
“I am not going to do anything I have done before at Barangaroo,” Moran said.
The restaurant, due to open in March 2016 at the southern end near King Street Wharf, will be in a striking building designed by architects Collins and Turner. 
The charcoal building will resemble several stacked shallow bowls, one of about 50 food and beverage outlets at Barangaroo South. 
The restaurant will have a casual lower floor, a more premium restaurant on the middle floor along with a rooftop garden bar.
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“When we were first approached by Lend Lease about joining the precinct, it was the location of the site which was key in our decision making," Matt Moran said.
"We intend to deliver a truly Australian experience at this world-class waterfront venue. Whether you are looking for a casual bar and restaurant, a more premium restaurant or a rooftop garden bar, we will have it all with our offering at Barangaroo and use only the best locally sourced produce to create a showpiece of Sydney dining,” said Matt. 
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Matt Moran bowls up Barangaroo South eat street restaurant 

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Bourke Street Bakery has confirmed they will take up space at Lend Lease’s Barangaroo South project on Sydney harbour.
Bourke Street Bakery will be located in the development’s Lime Street Shops precinct.
“For us, Barangaroo seemed like the perfect location as it capitalises on the CBD position with strong population numbers and it also enjoys a connection to Sydney Harbour,” Bourke Street Bakey co-founder Paul Allam said.
“We’re not trying to replicate <a href="https://www.barangaroosouth.com.au/retail/discover-retail-at-barangaroo/bourke-street-bakery" target="_blank">our Surry Hills store</a>, but we will bring a sense of familiarity to our Barangaroo store when we open mid next year.”
Paul Allam and David McGuinness, both baker/chefs, began Bourke Street Bakery in Surry Hills in 2004. 
The original store, for which the company is named, has become a cult favourite with Surry Hills locals and those from afar who appreciate quality coffee and the finest in baked goods. 
Bourke Street Bakery has grown to over six stores with expansion plans for two more and employing circa 120 staff across the company.
McGuinness and Allam met when they worked at Brasserie Bread in Banksmeadow in 2002.
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Bourke Street Bakery expands to Barangaroo South

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The health club chain Fitness First will open at Sydney's waterfront Barangaroo development. 
The fitness centre will also come with a wellness centre proposal said the chief executive Andy Cosslett of Fitness First, which is owned by US hedge funds Oaktree Capital and Marathon
It will be the chain's seventh central business district club, with the group telling the Australian Financial Review it will invest about $4 to $5 million in the venture. 
"We are delighted to welcome Fitness First and their exciting wellness initiative to Barangaroo to complement the precinct's public benefits such as 50 per cent open space, and kilometres of waterfront  pedestrian and cycling paths," Lend Lease managing director of Barangaroo south, Andrew Wilson, said. 
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