Sirius secures $435 million in weekend OTP project marketing sales
There was a $20 million penthouse deal on Sunday by developer JDH Capital
Around $435m worth of apartments were sold on the weekend in the Sydney’s Sirius building.
The 60 plus off the plan sales were secured by developer JDH Capital through CBRE with up to $118,000 per square metre results.
Prices started at $1.7 million for one-bedrooms in the redevelopment which is expected to be finished late next year.
The highest price of the 76 apartments on offer was a penthouse for $35 million which was secured in the days prior to the weekend sales spree.
The NSW government sold the exisiting Sirius building for $150 million in 2019 after the last of the NSW Housing Commission tenants departed the late 1970s building.
CBRE executive chairman Justin Brown and agents Ben Stewart and Ben Wicks noted strong demand after the sales continued through the weekend.
There were purchasers from Point Piper, Coogee, Vaucluse, Longueville, Lindfield and Mosman following 3500 inquiries.
No purchasers required Foreign Investment Review Board approval.
Stewart said it was the biggest weekend project marketing sales tally for many years.
Prior record prices per square metre included sales in the Opera complex, just across Circular Quay, that fetched a record-setting $96,400 per square metre off the plan in late 2016.
The Sydney architectural firm BVN, led by Phillip Rossington, have designed the apartments within and atop of the original building to “retain, restore and reimagine” the building.
BVN will oversee repairing and stabilising the internal supports, restoring the original concrete façade and removing some internal walls and adding open balcony spaces.
The new architectural design elements will see prefabricated pods wrapped in recycled copper.
Kelly Hoppen was commissioned to assist with the interiors.
JDH is headed by the former Macquarie banker Jean-Dominique Huynh.
Author: Jonathan Chancellor
Source: Urban Developer