Circular Quay

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An apartment in the soon-to-be completed Opera Residences at Sydney's Circular Quay has been listed for resale seeking $13.5 million.

The three bedroom, two bathroom apartment at 71 Macquarie Street is just one of three apartments on level 16, with the building topping out at level 19.

It spans 204 sqm, including its large entertaining balcony with 180 degree views of Sydney Harbour, the Opera House, Botanical Gardens and the city.

<a href="https://www.urban.com.au/buildings/opera-residences-71-macquarie-street-sydney"><img alt="" height="746" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/opera_residences_2_0.jpg" width="1200"></a>

There's timber chevron flooring, floor to ceiling glass to maximise the views and a Corian kitchen with Gaggenau appliances and Liebherr fridge.

Opera Residences, developed by Macrolink and Landream, will comprise 104 apartments designed in collaboration between Tzannes Architects, Crone Partners and Make.

Craig Donohue at Ayre Real Estate has the listing.

Donohue recently secured a <a href="https://www.urban.com.au/news/nsw/off-the-plan-buyer-success-in-sydneys-loftus-lane-development">strong resale at the nearby Loftus Lane</a>.

The sub-penthouse A603 in the Sydney CBD project sold for $5.4 million, having been snapped up at the sales launch back in mid-2017 for $4.975 million direct from the developer AMP Capital.

 
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The three bedroom, two bathroom apartment at 71 Macquarie Street is just one of three apartments on level 16



Joel Robinson

Opera Residences, Circular Quay apartment listed for $13.5 million

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The off the plan buyer of a sub-penthouse in Sydney’s Loftus Lane development has scored a big resale as the project nears completion.

The sub-penthouse A603 in the luxury project near Sydney Harbour sold for $5.4 million, having been snapped up at the sales launch back in mid-2017 for $4.975 million direct from the developer AMP Capital.

Ayre Real Estate director Craig Donohue sold the apartment to a Northern Beaches local who had been looking for a Sydney CBD base for around 12 months.

<a href="https://www.urban.com.au/new-apartments/loftus-lane-8-18-loftus-street-sydney"><img alt="" height="889" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8_loftus_lane_circular_2.jpg" width="1200"></a>

Donohue said the buyer was shown a few apartments in established and other new developments in the CBD but Loftus Lane's location was a stand out.

"He also loved the fact that this property had a substantial and very usable outdoor space and was really impressed with the design of the building", Donohue said.

Due to settle in April, 8 Loftus Lane has been designed by Studio Bright and will comprise 106 apartments across three Art Deco-style buildings.

<a href="https://www.urban.com.au/new-apartments/loftus-lane-8-18-loftus-street-sydney"><img alt="" height="730" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8_loftus_2.jpg" width="1200"></a>

Loftus Lane is part of Quay Quarter Sydney, the dynamic new neighbourhood and major redevelopment of two complete city blocks up near Circular Quay.

When the apartments hit the market in mid-2017, they all sold out within two hours of the launch.

Donohue says there is strong buyer demand for luxury apartments in the CBD.

“The Sydney CBD landscape is changing from a business district to a luxury world class lifestyle hub”, Donohue says.

“As the new developments come closer to completion, buyer can not only see what the final product looks like, but also plan to take occupancy this year which is generating lots of excitement”.
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Ayre Real Estate director Craig Donohue, who sold the apartment, says there is strong buyer demand for luxury apartments in the CBD.

Off the plan buyer success in Sydney’s Loftus Lane development

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Australian architecture firm Crone and Kengo Kuma &amp; Associates (KKAA) have jointly won an international design competition for a five-star Wanda Vista Hotel in Sydney’s Circular Quay. 
The 110 metre, 25-storey hotel is part of Dalian Wanda’s $1 billion makeover of Gold Fields House at 1 Alfred Street. Construction of the hotel will commence in 2017 with completion expected in 2020. 
The architecture firms’ winning design features an elegant tower that slowly pixelates, breaking down the scale of the building and making it more human-scale at the lower levels, according to the media release. 
The competition brief called for a design that best demonstrated the ability to deliver a world-class hotel and achieve design excellence in accordance with the City of Sydney Competitive Design Policy.
Alongside the hotel will be a 57-storey luxury residential tower designed by Kerry Hill Architects.
The hotel’s design also complements the adjacent residential tower, using harmonious use of sandstone, cascading green walls and large windows framing views towards the harbour, the release said.  
CRONE design director Sandra Furtado, who led the design team in Sydney, said, “We are extremely proud to be involved with Wanda’s ambitious reimagining of this prominent site in Sydney, working alongside our colleagues in Japan. 
“Located on the ‘dress circle’ of Circular Quay, our design aspirations for the Wanda Vista hotel required the crafting of a building with a distinct identity, while being mindful of site constraints, the client’s ambition, as well as the City of Sydney’s plans for the surrounding Alfred-Pitt-Dalley-George (APDG) precinct.”
The Japan-based half of the design team was led by Kengo Kuma.
The 5 Star features include a lobby which extends visually onto Herald Square, a 300-person grand ballroom with views of Sydney Harbour, two levels of restaurants as well as a rooftop bar.  
John Wei, MD of Wanda One Sydney said, “Together, CRONE and KKAA have fulfilled the brief to create a world-class hotel that together with our residential, retail and public realm elements will create a destination address and enhance this important city precinct. CRONE and KKAA will be appointed as the Lead Design Architect until completion of the Wanda Hotel.”
Chinese developer Dalian Wanda Group’s assets at the end of 2015 were at 634 billion yuan with revenue of 290.16 billion yuan.
Apart from the views, the Wanda Vista hotel will have easy access to the Sydney Opera House and Harbour Bridge. 
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Australian design firm Crone wins design competition for five-star hotel in Sydney’s Circular Quay

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AMP Capital has submitted a development application for the makeover of Sydney’s first skyscraper, 33 Alfred Street — which it owns — overlooking Circular Quay. 
On the table are a major fit out and upgrade of the 55-year-old building while preserving its heritage character. It is a 26 storey A-grade office tower.
The building has local heritage listing and the upgrade aims to reinstate lost features while refurbishing internal spaces and improving the environmental performance of the building to bring it in line with premium commercial office standards, AMP said in a media release.
The application came after two years of talks with the City of Sydney and the state government, AMP said. Once approvals are in place, construction is expected to start in 2020. 
AMP Capital’s chief operating officer, Real Estate, Louise Mason said the work “will breathe new life into this office tower whilst paying tribute to its history, heritage and place at Sydney’s global gateway”.  
“The building’s unique place in history and its distinctive design make 33 Alfred Street an important part of Sydney’s and Australia’s cityscapes. Along with being Australia’s first skyscraper, the building was cutting edge in its time, incorporating many other ‘firsts’ and innovations in its design. The proposed redevelopment will restore the building to its rightful status as a premium-grade office tower in keeping with this history, and its prominent place at Circular Quay,” she said.
The upgrade involves improving the building’s façades, increased activation of the street level frontages and an upgrade of the building’s services and interior. 
AMP Capital has appointed architect JPW for the project. 
AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund announced in December 2016 they had jointly acquired 33 Alfred Street on behalf of their investors for an undisclosed amount. Owned by AMP Life, 33 Alfred Street is AMP Limited’s headquarters. 
“33 Alfred Street was developed by AMP 55 years ago.  We are committed to leading the way and ensuring the project is an exemplar of sensitive and sustainable renewal.” 
She said AMP is not going to fundamentally alter its structure or create any additional floor space. It will be a interior refurbishment and upgrade of the building’s services, including a complete modernisation of the tower façade.
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AMP proposes ‘golden’ facelift for Sydney's oldest skyscraper 

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Beijing-based conglomerate Wanda will launch its flagship $1 billion project in Sydney’s Circular Quay amid expectations its luxury penthouses could sell for more than $60 million, setting a new price record.
Dignitaries and politicians will attend the Museum of Contemporary Art for the official launch tonight of the 57-storey tower.
Wanda’s project proposal for the Circular Quay project received the City of Sydney Council approval in 2015.
The project proposal was for a <a href="https://www.urban.com.au/news/49282-dalian-wanda-gets-circular-quay-project-go-ahead" target="_blank">57-storey 184-apartment residential tower</a> and a 179-room hotel at the 4040 sqm site bounded by 1 Alfred Street, 19-31 Pitt Street and 31A Pitt Street, Property Observer had reported.
The apartments are expected to be multi-million-dollar offerings from 50 sqm studios to four penthouses of 600 sqm.
The $60 million penthouse pricing was mentioned in the report in The Australian.
Managing director of CBRE residential David Milton said the development was in an “absolutely unbeatable position”. “This will set a new benchmark for location, quality and, yes, price,” he was cited by The Australian as saying.
The Australian record per square metre is understood to be $97,000, with a final price of $27 million, for the Opera Residences at 71 Macquarie Street at Bennelong Point.
The development on the 4,000 sqm site of Gold Fields House, purchased by the conglomerate in 2015 for $415 million, will also include a five-star hotel expected to be operated under the Wanda Vista brand.
 
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With $60 million penthouse hopes, Chinese developer Wanda launches $1 billion Circular Quay development

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An apartment in the new Circular Quay development Loftus Lane has sold for $17 million.
Despite the apartments not officially launching until tomorrow, one locally well-heeled buyer has snuck in to pay around $57,000 per sqm for the 296 sqm apartment offering.
It falls short of the $96,400 per sqm paid for the $27 million record breaking apartment sale in the Opera Residences last year.
That was reputedly bought by businessman and philanthropist Robert Salteri and his wife Kelly.
The Loftus Lane two storey unit on level 12 of the low-rise building has three bedrooms and sits in one of the three residential buildings developed by AMP Capital.
Completion of the buildings is slated for 2021 as part of the AMP Capital developed project to upgrade Circular Quay.
Some potential buyers have been underwhelmed by Loftus Lane, which comprises 106 apartments in three low-rise buildings.
 
 
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Loftus Lane apartment sells for $17 million

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Lendlease has chosen architect firms, Foster + Partners to design the, Circular Quay Tower at 180 George Street, Circular Quay.
The roof structure is set to be 263m high and will feature a network of pedestrian laneways that criss-cross the site at different levels to connect the precinct. 
Mark Menhinnitt, Managing Director, Urban Regeneration, said Lendlease was impressed by Foster + Partners’ refined scheme that recognised the need for strong integration and activation of the ground plane, while ensuring the tower is a spectacular landmark worthy of its iconic location.
“Circular Quay Tower, to be located on a new internationally recognised address, will provide a dynamic workplace and environment for Sydney’s future generation of office occupiers,"
“Fronting the reinvigorated city spine of George Street with two new plazas, workers and visitors will be welcomed to an abundance of retail, dining and entertainment, and arts and culture."
Gerard Evenden, senior executive partner of Foster + Partners, said he wanted Circular Quay Tower and its surroundings to be of its place, taking advantage of its topography and unique location – a stone’s throw from Sydney Harbour.
“The tower will be the centrepiece of an urban regeneration precinct that will reshape the northern end of the CBD into a vibrant community contributing to Sydney’s status as a global city,” he said.
Local architectural firm, Stewart Hollenstein, has been selected to remodel the Jacksons on George site that promises to be an exciting transformation of the much- loved Sydney institution.
Lendlease held the design competitions following Council’s endorsement of Lendlease’s revised planning proposal and accompanying Voluntary Planning Agreement (VPA) in July 2016.
In December 2016, Lendlease confirmed Ping An Real Estate and Mitsubishi Estate Asia as development partners.
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Architects Foster + Partners to design Lendlease's new centrepiece at Circular Quay

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Sydney's Kazal family has sold Circular Quay retail space - leased to Management International Group and trading as Buckley's Craft Beer Bar - for $21.5 million.
It reflected a tight net yield of 4 per cent.
The new owners of Shop 18A Opera Quays, 7 Macquarie Street plan to hold the high-performing asset for the long term.
The 408 square metre strata-titled property has 256 square metres of lower ground promenade space as well as 137 square metres in mezzanine space which features a fully operational commercial kitchen, walk-in cold storage and private staff meeting rooms.
The restaurant with a hotelier's licence can hold 500 patrons. A lease with options is in place until 2024.
There are 18 other similar lots on the high-profile promenade, which leads to the Sydney Opera House.
"Buckley's Bar is strategically located with a large outdoor seating component with direct water views, with these features making this retail strip one of the most tightly held precincts in the Sydney CBD," selling agent Cushman &amp; Wakefield's Anthony Bray told Fairfax Media.
It follows another Circular Quay asset sold earlier this year when the 131 square metre Shop 12 at 1 Macquarie Street sold for $10.2 million in an off-market sale, at a net yield of 3.15 per cent.
Mr Bray brokered the sale with colleague Ryan Cross.
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Sydney's Kazal family sell Circular Quay retail space

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The four levels of shops and restaurants at the base of the luxury apartment project Opera Residences, overlooking Circular Quay, have been sold off the plan for more than $40 million to a private Sydney family.
The off-the-plan deal for 980 square metres of prime retail space at 71 Macquarie Street was struck on a sub-4 per cent yield. It was listed <a href="https://www.urban.com.au/expert-insights/investing/76657-opera-retail-at-circular-quay-listed-for-more-than-40-million" target="_blank">back in October.</a>
The retail space has already been pre-committed to high-end fashion brands, including a two chefs' hat-restaurant and an international restaurant chain.
There is an 19-level tower being developed by Chinese developer Macrolink in partnership with Kevin Li's Landream.
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Opera Residences set a new Australia apartment record last year when the penthouse sold for $27 million to Robert Salteri and his wife Kelly.  
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Demolition of the former 1960s Coca-Cola Amatil office building is almost complete with Opera Residences due for completion in 2020.
Opera Retail was marketed by Knight Frank, JLL and Belle Property Commercial.
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$40 million OTP retail sale at Opera Residences 

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AMP Capital remains in ongoing discussions with Lendlease and Multiplex over the tender for construction of its Quay Quarter Tower.
Lendlease has quoted at $70 million over budget, according to the AFR's Street Talk column.
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<div>AMP Capital still has an aim of getting construction underway next year, it added.</div>
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Tenants in the existing building are due out this Friday.
The 49-storey office building at 50 Bridge Street will be rebuilt as Quay Quarter Tower.
The $1 billion tower, designed by Danish firm 3XN, is due to open in 2020.
The chief operating officer of real estate at AMP Capital, Louise Mason, has previously said revitalising the precinct was paramount to Sydney’s future as a global city.
“Quay Quarter Sydney provides an opportunity to reimagine the urban landscape of Circular Quay,” she said.
The Quay Quarter Sydney precinct will span two inner city blocks over a site area of around 11,000 square metres and incorporates a mix of commercial, retail and luxury residential.
50 Bridge Street is jointly owned by investors in the AMP Capital Diversified Property Fund (ADPF) and the AMP Capital Wholesale Office Fund (AWOF).
Street Talk noted super fund giant REST was the frontrunner to take out the stake in the redevelopment of 50 Bridge Street.
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