This article is from the Australian Property Journal archive
CROWN Resorts and Schiavello is fielding interest in the new One Queensbridge mixed-use hotel and apartment tower, which is subject to planning approval.
Knight Frank’s project marketing team has been appointed to the market the apartments.
Sales and marketing will be led by Knight Frank’s director, sales & marketing One Queensbridge, Erin van Tuil, in collaboration with head of global residential – Lord Andrew Hay; head of project marketing, Australia – Michael Robinson; and director, project marketing, Victoria – Daniel Cashen.
The planned One Queensbridge apartments will sit atop a six-star, 388-room Crown hotel, forming a 90-storey building.
“This planned development is ground-breaking for Australia, and will be the most prestigious residential offering available in the country when it comes to the market,” van Tuil said.
“One Queensbridge will offer buyers an opportunity to purchase a truly exceptional apartment, built to global standards of excellence. Given the lack of supply of prime and super-prime apartments in Sydney and Melbourne, we are very confident that this development will be embraced by buyers both locally and internationally,” she added.
Lord Hay said One Queensbridge will be ranked among the world’s best, alongside London’s One Hyde Park and New York’s One57.
“One Queensbridge will accommodate high-end luxury with the most expensive apartments Melbourne has yet to experience.
“As Melbourne’s most iconic upcoming development, One Queensbridge will not simply appeal to the domestic market, but will also attract significant interest from overseas occupiers and investors,”
“Melbourne has a track record of attracting buyers from the Asia Pacific region, but our Global research, the Wealth Report, shows an increasing interest and wealth flow into Australia.
“Melbourne, in our opinion, is one of the most developed overseas markets for investors. One Queensbridge will therefore be positioned at the forefront of the market,” Lord Hay said.
Knight Frank’s director, residential research, Australia Michelle Ciesielski said Melbourne overtook Sydney to be the best performer in Australia for prime residential, ranking in fifth place globally.
“The Melbourne prime residential market saw growth of 11% in the year to June 2016, while Sydney ranked sixth place globally with growth of 10.2%.
“Price growth in the Sydney and Melbourne prime residential markets, although lagged, has generally followed an upward trajectory in the Australian share market post the Lehman’s collapse.
“When indexed to December 2008, the Melbourne prime market recorded cumulative growth of 34% to June 2016, while prime Sydney prices grew by 37% over the same time. Isolating performance since June 2012, Sydney prime prices grew 40%, compared to 30% in Melbourne.
“Since this time, the upswing in the share market along with other stimulus such as a stable political environment have renewed confidence in the prime end of the market,” Ciesielski concluded.
Australian Property Journal
