The Penthouse, Crown Residences, Barangaroo, NSW
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The Penthouse, Crown Residences, Barangaroo, NSW

A once-in-a-lifetime opportunity — take a tour of Barangaroo’s newly completed crowning glory.

By Terry Christodoulou
Thu, Jul 22, 2021 1:42pmGrey Clock 2 min

Crown Residences’ One Barangaroo Penthouse is now complete — confirming its place as Australia’s most exceptional penthouse.

Holding an unparalleled position 245-metres above sea level and just 30-metres from the water’s edge, the two level, 800sqm, 6-bedroom, 6-bathroom, 3-car parking residence is the glimmering, elevated centrepiece of the redeveloped Barangaroo precinct.

Central to the luxury penthouse’s immediate appeal are all-encompassing views — stretching across the harbour to the Blue Mountains and framed by 6.5-metre floor to ceiling windows in the main living area.

The interiors — designed by New York outfit Meyer Davis — take advantage of the lofty, light-filled spaces and feature light European oak flooring throughout, accompanied by plush carpets in the bedrooms.

Elsewhere, the penthouse boasts formal and informal dining areas, a cinema room, home office, gym, wine cellar, stunning feature staircase and private lift.

 

The kitchen sees the decadent combination of Mont Blanc natural quartzite and Belvedere marble imported from Carrara, Italy, and is fitted with a combination of Wolf and Sub-Zero appliances. The Butler’s pantry, meanwhile, is fitted with Miele appliances.

The master bedroom is complete with ‘his’ and ‘hers’ dressing areas and an opulent ensuite fitted with twin rain shower, steam room and HansGrohe tapware.

Further heightening the space, the master ensuite is adorned in a combination of Volakas (Thessaloniki, Greece) and Noir St Laurent marble (Xiamen, China) as well as stunning harbour views.

The five remaining bedrooms feature ensuites decorated in Elba Blue marble and Calacatta Cielo stone from Thessaloniki, Greece and Carrara, Italy, respectively.

Adding to the exclusive allure, the penthouse also boasts private plunge pool — the only residence in the building to do so — alongside access to three protected balconies totalling 50sqm.

In addition to the penthouse’s once-in-a-lifetime appeal, residents have access to facilities within Crown Sydney, including both resident’s pool and hotel pools, the Blainey North designed Crown Spa, priority booking and room-service from the complex’s restaurants and bars, valet parking and concierge, access to a state-of-the-art gym and tennis courts and even the option to have bed linen changed daily by housekeeping.

This exclusive sale is being managed by Erin Van Tuil of Knight Frank (+61 409 325 700); offers over $100 million. Knightfrank.com.au



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The crafty workarounds would-be buyers use to get into the market

First time buyers determined to enter the Australian property market are taking creative approaches as interest rates steady

By Bronwyn Allen
Thu, Mar 28, 2024 2 min

Aspiring first home buyers are increasingly pooling their resources, adopting new strategies and making compromises to get themselves onto the property ladder, according to research from Westpac. About 56 percent of buyers surveyed are planning to buy their first property jointly with their partner compared to 40 percent three years ago. Three in four buyers say they are willing to compromise on location, up nine percent from three years ago, and 47 percent are willing to pay lenders mortgage insurance to buy their first home sooner.

Additionally, one in two first home hopefuls are considering ‘rentvesting’, whereby they purchase an investment property first ahead of a home for themselves. In this scenario, buyers typically continue renting in expensive lifestyle locations where they want to live and buy an investment property in more affordable locations, often on the outskirts of major cities or in regional areas.

The 2024 Westpac Home Ownership Report, released this month, is based on a survey of 2,015 Australians conducted in January. The report revealed increasing intentions to buy among all types of buyers, with 44 percent intending to buy in the next five years, up from 35 percent in July 2023. This may reflect expectations that interest rates have peaked, with the Reserve Bank keeping rates on hold since December.

Among first home buyers specifically, there was a slight decline in purchasing intention over the next five years, with 86 percent delaying buying a home due to cost-of-living pressures. The survey also found that more people are planning to buy an investment property, which is reflected in recent finance data from the Australian Bureau of Statistics showing a 20 percent increase in the value of investor loans issued over the past year. Additionally, more people are planning to upsize their homes or renovate their existing homes.

Westpac managing director of mortgages Damien MacRae said first home buyers “are becoming more ruthless with their goals”. “They understand it’s a big task, but they are determined to break into the market and are willing to compromise to get there,” Mr MacRae said.

Buyers still prefer houses, but there has been a five percent decline in this preference since 2021 and a seven percent increase for apartments. Preference for a townhouse, or house and land packages, has increased markedly. “Buyers are casting their expectations wider, willing to compromise on location and are forgoing everyday luxuries like food delivery. They are also more inclined to relocate and move to apartment living.”

The latest Westpac-Melbourne Institute Consumer Sentiment Index released this week shows the ‘time to buy a dwelling’ index rose 4.9 percent to 77.8 out of 100 this month, which is a 15-month high, but still relatively weak overall. Buyer sentiment is notably stronger in Victoria at 84.3, with Westpac senior economist Matthew Hassan pointing to softening home values over the past four months.

In contrast, the NSW index is at 73.3 out of 100, likely reflecting affordability challenges in Australia’s most expensive market. “Nearly 70 percent of consumers expect housing prices to continue rising in the year ahead,” Mr Hassan added.

 

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