This article is from the Australian Property Journal archive
CROWN Group is preparing for the stage one opening of its new $1 billion Eastlakes master-planned urban renewal project, bringing apartments, a large format Aldi and Woolworths Metro supermarket to Sydney’s inner south east.
Developed on both sides of Evans Avenue, The Grand Eastlakes (formerly known as Eastlakes LIVE) will feature 490 apartments designed by architects fjmt with two retail precincts on both sides of the project.
Stage one will open this month on the north side of Evans Avenue and includes 133 apartments positioned above a 15-retail outlet shopping centre, anchored the 1,600 sqm Aldi and Woolworths’ smaller format store.
Crown Group chair and group CEO Iwan Sunito said the dual-stage urban village would “breathe much-needed new life and energy, optimism and renewal into this tired yet brilliantly located suburb”.
Apartments are for sale from $740,000 for a one-bedroom apartment with car space to $1,520,500 for a three-bedroom apartment with car space.
Construction on the second stage, on the south side of Evans Avenue will commence late next year. It will consist of 357 apartments positioned above a sprawling 13,000 sqm three storey ultra-modern shopping centre, designed by Buchan Group, featuring 80 high-end and convenient retail outlets including a full-line Woolworths and a town centre including a medical centre and public library.
A new eat street will offer restaurant and dining options alongside apartments set across five high-rise buildings.
“This project will celebrate and showcase the work of architects as ‘placemakers and collaborators’ that goes beyond the design just of buildings and brings a new life and joy to a previously tired and uninviting urban setting, in much need of renewal and revitalisation,” Sunito said.
“What it also brings is a flow-on effect of continued urban growth and renewal, more development, public infrastructure, transport, amenities and commercial activity to Eastlakes and surrounding areas,” Sunito added.
Colliers Residential managing director Peter Chittenden, who is managing sales of stage one, said Crown Group is bringing an affordable alternative to other eastern suburbs or inner-city neighbourhoods where property seekers are priced out.
“Ideal for owner occupiers, families or downsizers wanting all of the convenience of living above a shopping centre, this project is attracting interest from young families and first home purchasers who are currently renting in the eastern suburbs, love the east but are priced out of nearby beachside suburbs.”
“This is the next best option,” he said.
He said the project will also attract healthy rental returns for investors, being a brand new development with resort-style facilities such beautiful pools and rooftop dining areas.
“The Eastlakes Shopping Centre, which is currently operating, will be unrecognisable when the entire project is completed in late 2025,” Chittenden said.
