This article is from the Australian Property Journal archive
LENDLEASE has topped out the first and tallest of the three towers at its One Sydney Harbour residential development – the location of Australia’s most expensive home – marking another step towards completion of the decade-long development of the Barangaroo precinct.
Lendlease has secured more than $3.7 billion in sales across its three towers as it marked completion of the highest structural point of the 72-storey tower. That includes the $140 million sale of the three-storey penthouse of Residences One, which is now 96% sold.
Sydney is rated among the top five cities for most likely home purchases in the next one to two years by ultra-high-net-worth individuals, according to Knight Frank.
One Sydney Harbour is over 90% sold across all three towers, including the sale of all sky homes and penthouses, with over 90% of precinct purchasers from the local Sydney area.
More than 1.6 million construction hours have been clocked up, and 31,000 cubic metres of concrete poured. Residences One will move into the final phase of delivery which includes completing the façade panel installation and internal fit-outs of the upper floors.
Construction is continuing on Residences Two and Watermans Residences, with the One Sydney Harbour precinct slated for completion in 2025.
Designed by Pritzker Prize-winning architect Renzo Piano, alongside interior designers Daniel Goldberg and Chris Darling, One Sydney Harbour marks the final piece to be delivered by Lendlease as part of its carbon-neutral Barangaroo South precinct. Residences One and Residences Two at One Sydney Harbour have been awarded a 6 Star Green Star rating in Design by the Green Building Council Australia, with Watermans Residences also targeting 6 Star Green Star.
“Completing the structure of Residences One, the first and tallest of our three residential towers in One Sydney Harbour, brings us one step closer to delivering the last part of the decade-long development of Barangaroo,” said Tom Mackellar, managing director development, Lendlease.
“It has been an exciting journey since we first launched Residences One, which has since been met with unprecedented and continuous demand through construction. It’s also why we’re confident in the future success of our new One Circular Quay development which has already attracted strong interest to date.”
Lendlease and Mitsubishi Estate Asia jointly acquired the One Circular Quay development this year, which will deliver an estimated end value of $3 billion.
