Castlereagh

The view from residential developers&nbsp;is that the apartment market in the Sydney CBD is more on trend and in demand than it has been in a number of years.

Adrian Pozzo, the chief executive at CBUS Property,&nbsp;says the&nbsp;CBD is set to evolve post the pandemic disruptions, with the nature of the developments being constructed and in planning dominated by mixed-use towers.

&quot;The mixed-use nature of the city has seen distinct precincts evolve, each with their own cluster of businesses and cultural, educational and entertainment precincts,&quot; Pozzo says.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

Developers have taken to the small pocket around Hyde Park, almost between St James and Museum Station.

There&#39;s a number of projects currently under construction, and a solid pipeline on the desks of the City of Sydney council.

The first project to be completed will be Castle Residences, the mixed-use hotel and apartment tower at 203 Castlereagh Street which is slated for completion in December.

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The first Australian project by Shanghai United, Castle Residences have been built above the heritage Porter House, which is being retained as a luxury lobby entry.

There are 131 apartments and around 122 hotel rooms, with the hotel to be operated by AccorHotels.&nbsp;Residents at Castle Residences will get all of the perks of being a hotel guest, such as a the 24 hour concierge, room service, housekeeping and even valet parking.

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Up the street and currently under construction is Cbus Property&#39;s&nbsp;111 Castlereagh Street, set to be a landmark in the CBD for years to come.

The striking tower, designed by fjmt studio and built atop the former&nbsp;David Jones&nbsp;department store which was originally built in 1938,&nbsp;has 101 apartments, most with views over Hyde Park.&nbsp;

Part of the development will see the David Jones component converted in to 11,500 sqm of office space, as well as a 6,200 sqm extension of Westfield.

[smartcode_project:default project_id=94354 project_image_fid=170431]

Colliers Residential Managing Director Peter Chittenden, who has been handling the sales at 111 Castlereagh Street,&nbsp;says the apartments have been designed with ample space and connection to the outdoors, which are now top priorities for Australians.

&quot;There has been strong buyer interest very much around the quality of the development and construction team, the iconic architectural building and the central CBD location&rsquo;s liveability with shopping and dining along with the expansive views spanning across Hyde Park and beyond to Sydney harbour,&quot; Chittenden says.

&quot;The prominent buyer demographic has been local Sydneysiders from the Eastern Suburbs and Lower North Shore, looking for a primary residence along with interest from regional NSW where buyers are looking for a city base&nbsp;for when they are visiting and doing business in Sydney.&quot;

Apartment residents will have access to a rooftop with a pool, gym and gardens. Construction is underway, with completion expected in Q3 2023.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Across the road from 111 Castlereagh Street is set to be another impressive mixed-use development.

Last year the alternative asset manager Fife Capital, led by Allan Fife, submitted plans for a 17-level tower to&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

The development of two lots,&nbsp;114-120 Castlereagh Street and 139 Elizabeth Street, will see just 26 apartments built, only starting from level 10, with the rest of the building being commercial. There will be&nbsp;a mix of one, two and three-bedroom units and a two-level, four-bedroom penthouse on levels 15 and 16.

<img alt="" height="789" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_main_1200.jpg" width="1200" />

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens.

A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

And the most recent lodgement comes from Central Element, who are seeking to build a $100 million tower on the fringe of Hyde Park where the 16-storey Hyde Park Inn hotel currently sits.

<img alt="" height="373" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/central_elementh_hyde_park.png" width="662" />

It&#39;s another amalgamation of sites on Castlereagh Street and Elizabeth Street, the latter which runs parallel to Hyde Park.

They&#39;ll be amalgamated&nbsp;two lots at 262-266 Castlereagh Street and 271-279 Elizabeth Street, planning for three retail tenancies on the upper and lower ground floors, with 53 apartments above.

The subject sites are currently occupied by a vacant four-storey commercial building as well as the&nbsp;16-storey Hyde Park Inn hotel.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

Joel Robinson

What Sydney's Castlereagh Street will look like in five years

Cbus Property have reported the sale of three luxury apartments worth $66 million in the 111 Castlereagh St development.

The buyers came from the eastern suburbs and lower north shore.

The biggest sale was a 460sq m double-storey penthouse that fetched about $35 million.

It is called the Jones Residence,&nbsp;named after Sir Charles Lloyd Jones who led the success of the David Jones expansion on which the property sits.

The residence boasts 360‑degree views across the city and towards the Blue Mountains, capturing Hyde Park, Sydney Harbour, the Eastern Suburbs and beyond.

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The two smaller sub penthouses in the 101-unit project sold for about $15.5 million each.

The sales marked "a resurgence in the return of Sydney city living and the ongoing appetite for high-end, primely located residential property, despite the challenges of the current COVID-19 climate,” Cbus Property CEO Adrian Pozzo said.

Selling agent Colliers Residential managing director Peter Chittenden said the four-bedroom penthouse occupies part of level 33 and the entire 34th level and includes two kitchens, living areas, a wine cellar and a butler’s pantry.

Cbus has two four-bedroom sky homes and a selection of expansive one, two and three-bedroom residences still for sale in the project set to be finished by the end of 2023.

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Three luxury apartments have been sold off-the-plan in the 111 Castlereagh St development

jchancellor-FAypfDUnLy

$35 million penthouse sale secured in 111 Castlereagh by Cbus

Cbus has sold one-third of the 101 apartments in its 111 Castlereagh St development, atop the former David Jones department store.

Colliers managing director, residential, Peter Chittenden told the Weekend Australia he was also "close to selling" a $30 million-plus penthouse in the project being developed by Cbus Property.

It has 460 sqm space.

[smartcode_project:default project_id=94354 project_image_fid=170432]

The cheapest units are one-bedrooms starting at about $3 million, while four bedroom units start from $13.5 million.

Most of the 101 apartments have views over Hyde Park in the tower designed by architects fjmtstudio.

Apartment residents will enjoy a rooftop with a pool, gym and gardens at the project where construction is underway.

[smartcode_project:default project_id=94354 project_image_fid=170428]

The apartments will be ready by the third quarter of 2023.

Chittenden had always expected most buyers would be local owner-occupiers and confirmed there has been no offshore money purchasing in the development.&nbsp;

[smartcode_project:default project_id=94354 project_image_fid=170427]

He confirmed most buyers hail from Sydney’s east as well as regional NSW, with several apartments purchased by high-net-worth farmers.

The Cbus tower sits above the former David Jones menswear store in Market Street with apartments, office space, and luxury retail planned by Cbus Property and Scentre, the owner of Westfield malls.

Colliers has sold one-third of the 101 apartments in the 111 Castlereagh St development

Cbus secure 33 sales at 111 Castlereagh St with $30 million penthouse next to go

The Sydney CBD is set for a new mixed-use residential and office development.

Fife Capital, the alternative asset manager led by Allan Fife, has lodged plans for two towers in the heart of the CBD, one residential and one commercial&nbsp;at 114-120 Castlereagh Street and 139 Elizabeth Street.

Fife paid $46 million for the two sites last year&nbsp;when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

114-120 Castlereagh, currently home to George Bosch Chambers,&nbsp;spans eight storeys and dates back to the mid 1920s. The St James Hotel currently occupies the lower ground, ground and first level.

That building will stay, with GML Heritage stating the building is culturally significant and should be retained and conserved, despite no heritage overlay of the 1920s-built building which underwent a renovation in the mid-1980s.

139 Elizabeth, to the rear of the Castlereagh building fronting Hyde Park, is a four-storey masonry building. With no significant enough heritage or streetscape impact, 139 Elizabeth will be demolished and make way for the 17-level apartment tower, which will home just 26 luxury apartments.

<img alt="" height="932" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_location_2.jpg" width="1200" /> 
The development will be located across the road from&nbsp;the well-known David Jones Men&rsquo;s Store, which will be redeveloped by CBUS in to a 22-level residential tower at 77 Market Street. Source: City of Sydney

There will be&nbsp;one, two and three bedroom apartments, and a two-level, four bedroom penthouse across levels 15 and 16.

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens. A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

<img alt="" height="805" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_3_plan.jpeg" width="1200" /> 
The proposed Elizabeth Street frontage. Source: City of Sydney Council

Fife commissioned the Chippendale-based Tony Owen Partners to prepare the development application. &nbsp;&nbsp;&nbsp;

&ldquo;Whilst the site is tight, the proposal maximises the potential for landscaped are in this small inner city site,&rdquo; the design verification statement&nbsp;read.

Tony Owen Partners designed the 17-storey residential tower The&nbsp;Eliza, which adjoins one of the building&#39;s on Elizabeth Street for the Ceerose Group. 
 
<a href="https://www.urban.com.au/developments/sydney-nsw?source_news_article_id=106443&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.png" width="1200" /></a>

There was a design advisory panel held between the City of Sydney and Tony Owen Partners&nbsp;in February where issues about the development were discussed&nbsp;and resolved.

Overview of proposal:&nbsp;

&bull; Retention of retail space on the ground floor and basement of Castlereagh St building.&nbsp;

&bull; Retention of the fa&ccedil;ade and majority of building fabric of Castlereagh St building.&nbsp;

&bull; Existing levels of the Castlereagh St building to be refurbished as a commercial building as present.&nbsp;

&bull; Additional levels above the exiting building on Castlereagh St containing residential uses.

&bull; Additional cores and structure if required to support additional built form.&nbsp;

&bull; A new building on Elizabeth Street consisting of residential uses.

The development also located up the road from the soon-to-be-completed Castle Residences, the luxury 131 apartment by Urban Development Sydney which sits at 203 Castlereagh Street.

The Candalepas Associates-designed, 36-level tower, which incorporates hotel suites as well as residential apartments, is set for completion in December.

Urban Development Sydney has just relaunched the $18 million penthouse.

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Fife paid $46 million for the two sites in 2020 when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

Exclusive: Fife Capital lodge Castlereagh Street, Sydney CBD mixed-use apartment and office development

The Castle Residences just off Hyde Park is set to be one of Sydney&#39;s most exciting developments to be completed this year.

The luxury $380 million is being developed by United Development Sydney and will be their&nbsp;flagship mixed-use residential/hotel project in Australia.&nbsp;

The project, currently under construction by Hutchinson Builders and nearing its topping out stage,&nbsp;will have 131 apartments, a mix of studio, one, two and three bedroom units across levels 11 to 36. The first 11 levels will be part of the hotel.

Prices start from $1.24 million&nbsp;and range&nbsp;up to $ 20mil for a penthouse.

Urban has taken a look at the project and picked out five of its stand out features.

<h2>1. Its unique facade</h2>

The unique design sees the 36 floor residential tower cantilevered above the heritage building Porter House, which is being restored as part of the redevelopment of the site.

Rich in history, Porter House dates back to the mid 1870s and formerly homed the tobacco factory&nbsp;Dixson &amp; Sons. The rare surviving example of a commercial Victorian building&nbsp;features a sandstone facade, sash windows, original pressed metal ceilings and marble Art Deco stairs.

It makes for a welcome entry, adjacent to St George&#39;s Free Presbyterian Church and Scientology House.

<a href="https://www.urban.com.au/new-apartments/castle-residences-203-castlereagh-street-sydney"><img alt="" height="894" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/porter_house_.jpg" width="1200" /></a>

<h2>2. The hotel amenities</h2>

Being linked to a 122 room hotel, residents of the development will have access to a number of hotel amenities rarely seen in a regular apartment development.

The hotel will service the residences with room service, catering, housekeeping, laundry and maintenance, which can be accessed via a personalised mobile application.

Residents will also have full access to the&nbsp;hotel&rsquo;s facilities including the restaurants, bars, gym, pool and business centre,&nbsp;along with 24 hour security, concierge and valet parking.

<a href="https://www.urban.com.au/new-apartments/castle-residences-203-castlereagh-street-sydney"><img alt="" height="904" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_residences_swimming_pool.jpg" width="1600" /></a>

<h2>3. The Architect</h2>

Castle Residences have been designed by the award-winning architect Candalepas and Associates, who are responsible for The Surry and Pelican Street Apartments, both in Surry Hills, as well as the QT Hotel in Melbourne and Perth.

Candalepas and Associates also handled the renovation of the Hellenic Club, just up the road from Castle Residences on Castlereagh Street.

<h2>4. The Design</h2>

The apartments have been compared to those you&#39;d find in New York&#39;s metropolitan hub of Manhattan.

The slick interiors&nbsp;combine classical and modern design elements, designed in&nbsp;concert with the external architecture. The subtle curve of countertops, etched mirrors and cabinetry echo the Porter House&rsquo;s scalloped windows, with unimpeded views of Hyde Park&rsquo;s verdant canopy.

Natural materials have been used throughout, with&nbsp;pale limestone, oak timbers, graphite and bronze used throughout the interior.

The apartments feature a Miele-kitted entertainers kitchen which meets the open plan living space, leading to a landscaped private balcony. The three bedroom sub-penthouse and penthouse apartments have&nbsp;Gaggenau appliances in their kitchens.<a href="https://www.urban.com.au/new-apartments/castle-residences-203-castlereagh-street-sydney"><img alt="" height="976" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_residences_apartment.jpg" width="1600" /></a>

<h2>5. The Location</h2>

The site at 203 Castlereagh Street is centrally located around the corner from&nbsp;Sydney&#39;s beautiful Hyde Park.

It&#39;s a short walk to&nbsp;main local train station Town Hall which connects to Sydney&#39;s popular eastern suburbs, Circular Quay where&nbsp;Sydney&#39;s harbour landmarks are located and a direct train to the Sydney airport.

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The luxury $380 million is being developed by United Development Sydney and will be their flagship mixed-use residential/hotel project in Australia. 


Five things we love about Sydney's luxury Castle Residences

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The New South Wales Government has heritage listed for Hadley House at Castlereagh.
The homestead’s significance is one of Australia’s oldest farming estates.
But keeping it on the map for future generations has been a struggle.
The Castlereagh property has a special meaning for <a href="https://www.2gb.com/government-officially-signs-off-on-hadley-house-heritage-listing/" target="_blank">2GB broadcaster Ray Hadley</a>, belonging to his fourth great-grandfather Charles Hadley in the 18th century.
In February this year, the Penrith Lakes Development Corporation assured Ray that Hadley Park would be protected only to go back on its word.
State Planning Minister Anthony Roberts says Governor David Hurley has signed off on a heritage listing for the property.
The government is now moving to restore it.
“From there we’ll start to, of course, protect the site further, rebuild it, and turn it into a destination for people to go and see how people in the past used to live and work,” he tells Ray.
Ray has thanked the Minister and the government for preserving the historic location.
“I think it’s very important, from my point of view, that we leave some sort of legacy into the future, where our children… can go and look at places and have a look and feel what it was like back then.”
NSW Heritage says it is difficult to overestimate the significance of this complex, "still extant in its original 1803 grant, and still in a remarkably unaltered condition".
As a building it is one of the earliest extant buildings in the colony; in its condition and setting it is probably unique, the reference suggests.
The farming complex, together with Nepean Park adjacent, make an outstanding pair within the Castlereagh/Nepean River farming plateau.
The site comes with a single storey outbuilding, possibly the earliest timber cottage on the site circa 1806, <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/nikabuz/37058129814" target="_blank">maybe the oldest timber cottage known to survive in Australia</a>.
The area is now owned by the Penrith Lakes Development Corporation (PLDC) and is off-limits to the public.
The main farmhouse is an extremely rare surviving example of a jerkin head roof structure embodying a most unique and unusual timber structure and clad externally with brickwork.
The technical excellence of the timber roof structure is paralleled by Elizabeth Farm, Parramatta, Old Government House, Parramatta and St. Mathgew's Anglican Church, Windsor and because of this technical excellence the building cannot be described as vernacular.
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Hadley House, Castlereagh gets heritage listed

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Racing NSW has purchased the historic Castlereagh home of the legendary trainer Bart Cummings.

The approximately 137-acre property near Windsor/Richmond in the Sydney Basin has been owned by the Cummings family for three generations.

The farm featured three houses, including a homestead, an office, three stables, irrigation infrastructure, as well as shedding, grain storage, 67 day yards, round yards and a 1000 metre sand-based exercise track.

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Cummings, who passed away in 2015, is regarded as one of Australia’s greatest ever race horse trainers and is particularly noted for training 12 Melbourne Cup winners.

Inglis Rural Property agent Sam Triggs marketed the property to domestic and international thoroughbred groups, including high profile trainers and breeders.

Racing NSW Chairman, Russell Balding, said the purchase will be a valuable asset to the horse racing industry.

“Naturally we sought to keep this historic property in the industry’s ownership,” he said.

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“It has enormous opportunity for the NSW Thoroughbred Racing Industry including the establishment of a Racing Academy which will not only be used for the training of jockeys, trackwork riders, stablehands but for all racings workforce.

“In particular it will be used as an educational facility for Stewards.

“The property will also be used as the show piece for the Horse Rehabilitation Program and for a Quarantine Station.”

The group indicated they would consider changing the name of the property to the Bart Cummings Farm.
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Racing NSW buy Bart Cummings’ Castlereagh property Princes Farm

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The Sydney CBD home of the Castlereagh Club has been listed for sale a guide of around $20 million.
Set for sale for the first time in 23 years, <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503191494" target="_blank">197-199 Castlereagh Street</a> is currently undergoing a full refurbishment and is 100% leased to the Castlereagh Club on a 7+5+5 year net lease.
The Castlereagh Club also operate World Gym and Lynn Shangai restaurant out of the five level block.
"It is very rare that retail of such scale provides opportunity for private ownership," the marketing reads. 
Colliers International Sydney agents Vince Kernahan and Tom O'Neil are marketing the property in conjunction with Henderson &amp; Horning's Will Mulvihill and Bill Rees.
It is expected a sale would represent a five percent yield. 
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jrobinson-rf4aSBido9

Castlereagh Club building for sale with $20 million hopes

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The Castlereagh Club has sold its 4 level stratum commercial premises within the Victoria Tower Residential complex.
Situated at 197 Castlereagh Street, the 2,622 sqm premises sold for approximately $19.85 million to a private investor on a 6.5% yield.
The property comprises squash courts, two levels of basement dedicated to a gymnasium, ground floor bar &amp; poker machines and a restaurant and 12 carparking spaces on Level 1.
It was developed by Leda Holdings in 1995 after purchasing the air space above the former Catholic Club (now the Castlereagh Club) and developing new premises for the Club which they have occupied since completion.
Sold on a lease back arrangement, The Castlereagh Club retains the head lease over the entire premises and has licensed the gymnasium to World Gym (approximately 60% of NLA) and Lynn Shanghai Restaurant.
The Club retains control of the 18 gaming machines on the ground floor and the Level 1 Bar adjacent to the restaurant.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/14/Castlereagh%20Club%202.jpg" alt="">
The sale was brokered by Colliers International Tom O’Neill and Vince Kernahan in conjunction with Henderson and Horning’s William Mulvihill and Bill Rees.
“The campaign saw very strong interest from local and offshore high net worth investors and funds who recognise the exceptional growth prospects for the property being surrounded by new projects which are adding valuable amenity. These include the proposed Sydney Metro Stations and the towers that will sit above them -the Pitt Street North office tower and the Pitt St South “build to rent” tower.” said Tom O’Neill, Manager, Investment Services at Colliers International who introduced the buyer.
“The Club has repositioned the property and rebranded the club reopening the upstairs bar and restaurant after having just undertaken complete refurbishment of the building and securing Wold Gym to occupy 1600sqm” said will Mulvihill who introduced World Gym.
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