Latest news with #Lendlease
Daily Mail
2 days ago
- Business
- Daily Mail
Inside the jaw-dropping Aussie apartment that just sold for national record of $141million
A new benchmark has been set for Australia's most expensive home, with a stunning Sydney Harbour penthouse fetching for an eyewatering $141.55 million. Yan Zhang on Thursday settled on the property, consisting of the top three floors of Lendlease's One Sydney Harbour development in Barangaroo. Purchased off-the-plan in 2019, the property combines a two-storey penthouse and a sub-penthouse below for friends and family. The deal was widely publicised at the time but the buyer had remained a secret until Sydney Morning Herald revealed Mr Zhang was the mystery buyer. It overtakes the estimated $130-million-plus sale of a Toorak mansion earlier this year as Australia's most expensive residential purchase. The combined Barangaroo penthouses cover more than 1600sqm and include nine bedrooms, a rooftop swimming pool, spa, gymnasium and is complete with eight-metre-high ceilings. Kylie Rampa, Lendlease's property chief executive previously described the jaw-dropping purchase as a landmark moment in Australian property sales. 'The sale of the penthouse at One Sydney Harbour is a paradigm shift for the Australian property market with an apartment claiming the title of Australia's most valuable residential property for the first time, a title historically reserved for significant houses,' Ms Rampa said. 'The record-breaking penthouse sale is confirmation that the Barangaroo South precinct is a world-leading location where people aspire to live, work and visit.' Valued at more than $100,000 per square metre, the property crowns the 72-floor building, the tallest of three in the One Sydney Harbour development. The three towers were designed by Pritzker-prize winning Italian architect Renzo Piano whose other works include The Shard in London and the Centre Georges Pompidou in Paris. The One Sydney Harbour project was developed by Lendlease as part of a wider urban renewal project in Barangaroo alongside the Crown Sydney and the International Towers Sydney. All three towers have now been completed, with most buyers having settled and moved in to the development. Lendlease told the Australian Financial Review last year 99 per cent of the pre-sold apartments across the three towers had already settled. The three-storey mega penthouse purchased by Mr Zhang more than tripled the next most valuable purchase in the Barangaroo development. Prolific property investor Qing Zhong paid a reported $38.95million for an entire storey of the same tower last year, combining three apartments. Surgeon Dr Franklin Yee and his wife Gloria also purchased a unit above Mr Zhong's floor-wide purchase for $21million, according to the Sydney Morning Herald. It also exceeded the roughly $80million purchase of a two-storey, six-bedroom penthouse in the neighbouring Crown Tower earlier this month. That penthouse was rumoured by Domain to have been nabbed by James Packer's lieutenant, accountant Lawrence Myers and his wife Sylvia. If confirmed, Myers will be in good company with Packer himself having purchased a two-storey apartment in the same building for $72.23million a few years earlier in 2021.
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Luxury Sydney apartment sells for $141.55m, setting national home price record
Multimillionaire Yan Zhang has paid $141.55 million for Australia's most expensive residence, a penthouse overlooking Sydney Harbour. The mystery purchaser can finally be revealed of the top three floors of Lendlease's One Sydney Harbour development at Barangaroo South, after settling on the home on Thursday. The off-the-plan sale, inked in 2019, is an amalgamation of the two-storey penthouse of the Renzo Piano-designed building, which is for himself, and a sub-penthouse directly below, for friends and family to stay in. It tops all of Australia's previous confirmed house and apartment records, including Atlassian co-founder Scott Farquhar 's $130 million Elaine sale, which settled to a consortium of developers last week who are planning to carve it up and sell it off in four lots. It also eclipses Crown Resort's One Barangaroo circa $80 million penthouse next door, which is widely tipped to have sold to James Packer 's lieutenant Lawrence Myers last week. The previous national house price record was held in conjunction with Uig Lodge, which was set by the tech billionaire Farquhar after paying $130 million in late 2022 for the Scottish baronial mansion, which he bought from rag traders Steven and Carol Moss. That sale smashed the previous record holder by some $30 million set by his counterpart Atlassian's other founder Mike Cannon-Brookes. The tech billionaire and his wife Annie purchased Fairwater in Point Piper for $100 million, ending more than a century of Fairfax family ownership. A mansion in Melbourne's Toorak also sold this year for at least nine figures, although is reportedly unlikely to top the national record. Sources have put the sale price anywhere from $115 million to $135 million.
The Age
2 days ago
- Business
- The Age
Luxury Sydney apartment sells for $141.55m, setting national home price record
Multimillionaire Yan Zhang has paid $141.55 million for Australia's most expensive residence, a penthouse overlooking Sydney Harbour. The mystery purchaser can finally be revealed of the top three floors of Lendlease's One Sydney Harbour development at Barangaroo South, after settling on the home on Thursday. The off-the-plan sale, inked in 2019, is an amalgamation of the two-storey penthouse of the Renzo Piano-designed building, which is for himself, and a sub-penthouse directly below, for friends and family to stay in. It tops all of Australia's previous confirmed house and apartment records, including Atlassian co-founder Scott Farquhar 's $130 million Elaine sale, which settled to a consortium of developers last week who are planning to carve it up and sell it off in four lots. It also eclipses Crown Resort's One Barangaroo circa $80 million penthouse next door, which is widely tipped to have sold to James Packer 's lieutenant Lawrence Myers last week. The previous national house price record was held in conjunction with Uig Lodge, which was set by the tech billionaire Farquhar after paying $130 million in late 2022 for the Scottish baronial mansion, which he bought from rag traders Steven and Carol Moss. That sale smashed the previous record holder by some $30 million set by his counterpart Atlassian's other founder Mike Cannon-Brookes. The tech billionaire and his wife Annie purchased Fairwater in Point Piper for $100 million, ending more than a century of Fairfax family ownership. A mansion in Melbourne's Toorak also sold this year for at least nine figures, although is reportedly unlikely to top the national record. Sources have put the sale price anywhere from $115 million to $135 million.
Business Times
2 days ago
- Business
- Business Times
Bishan to get over 2 million sq ft of office space, new integrated development
[SINGAPORE] Plans to develop Bishan as a business node could add over 2 million square feet (sq ft) of new office space to the area, Minister for National Development Chee Hong Tat disclosed on Thursday (Jun 26). The fresh office space will be part of a new integrated development mapped out for Bishan, one of Singapore's more densely populated areas. The housing estate will also get new community amenities such as a polyclinic, a hawker centre and a revamped bus interchange with air-conditioned waiting areas. Works for these new developments will start within this term of government, and take several years, said Chee in a video shared on social media channels on Thursday morning. It follows the unveiling of the Draft Master Plan 2025 on Wednesday, which revealed the government's plans to grow decentralised office spots with the refresh of regional business nodes across the island. At around 200,000 square metres or 2.2 million sq ft, the office space will take up a rough equivalent of 28 football fields, and be of similar size to Suntec City's office space. It is also expected to be on the scale of Paya Lebar Central, a relatively new commercial precinct that now houses the Paya Lebar Quarter development, completed in 2018 to 2019. Market watchers had pointed to several plots of vacant land near the Bishan interchange and around the Junction 8 mall, suggesting that new developments could sit atop the interchange. Property developer Lendlease and the Abu Dhabi Investment Authority jointly acquired the Paya Lebar plot at a state tender in 2015 for S$1.67 billion, trumping the offers of five other bidders. The 3.9-hectare site was then developed into seven buildings: a retail mall, three office towers and three private residential blocks. Paya Lebar Quarter and Paya Lebar Square contain well over a million square feet of office space. Some government agencies are now looking at relocating their offices to Bishan, to kick-start the development of the business node, the Urban Redevelopment Authority said on Wednesday.
Business Times
2 days ago
- Business
- Business Times
Bishan to see over 2 million sq ft of new office space, new integrated development
[SINGAPORE] Plans to develop Bishan as a business node could bring over 2 million square feet (sq ft) of new office space to the area, Minister for National Development Chee Hong Tat disclosed on Thursday (Jun 26). The fresh office space will be part of a massive new integrated development mapped out for Bishan, one of Singapore's more densely areas, which will see new community amenities such as a polyclinic, hawker centre and a revamped bus interchange with air-conditioned waiting areas. Works for these new developments will start within this term, and take several years to complete, said Chee in a video shared on social media channels on Thursday morning. It follows the unveiling of the Draft Master Plan 2025 on Wednesday, which revealed the government's plans to grow decentralised office spots with the refresh of regional business nodes across the island. Bishan's new office spaces are expected to be on the scale of Paya Lebar Central, a relatively new commercial precinct that now houses the sprawling Paya Lebar Quarter development, completed in 2018-2019. Market watchers had pointed to several plots of vacant land near the Bishan interchange and around the Junction 8 mall, suggesting that new developments could come up on top of the interchange. Property developer Lendlease and the Abu Dhabi Investment Authority jointly acquired the Paya Lebar plot at a state tender in 2015 for S$1.67 billion, trumping the offers of five other bidders. The 3.9-hectare site was then developed into seven buildings: a retail mall, three office towers and three private residential blocks. Along with Paya Lebar Square, the two projects contain well over a million square feet of office space. Some government agencies are now looking at relocating their offices to BIshan, to kick-start the business node's development, URA had said on Wednesday.
