LEND Lease is looking to start sales of the residential tower at Sydney's $6 billion Barangaroo South project within the next two years, after securing funding for the project.
Aside from the three office towers, casino and hotel, about 775 to 800 apartments are planned for the site. The apartments could have an asking price of $1 million-plus.
After lengthy talks, the group said that New South Wales government superannuants in First State Super and the Telstra Super fund would be direct financiers of the $2 billion Barangaroo South project.
The two funds are included in the syndicate with the Lend Lease-managed Australian Prime Property Fund Commercial that will take a combined $500 million stake in the construction of the development.
Advertisement The Canada Pension Plan Investment Board will invest $1 billion and Lend Lease will make up the remaining $500 million, funded by internal cash flow, not by shareholders.
Westpac, KPMG and Lend Lease are the confirmed anchor tenants for the first two office towers, at an average rental of $1000 a square metre, with about 20 per cent of the rent as incentives. It is speculated that accounting firm PwC could take out the anchor space for the 3rd tower.
So is the whole residential component being launched at the same time? I was under the impression that the apartments in front of international towers would be the first to be launched and constructed.
I look forward to seeing detailed renders for the residential towers. Those in the north in particular are well placed to break up the sheer bulk and size of C3
the renders look great. Looks like enclosed balconies on the tall towers which which is more practical in a city and gives extra space.
According to the new time line on http://www.internationaltowerssydney.com/The-Program/default.aspx
the northern residential towers will be completed 2018-1019
I'd like to see the final residential towers built with some greenery (ala Central Park). It would provide a vertical connection between the highrise built form of Barangaroo South through to the vegetated form of the Headland Park
^^
That they do. Note the stepped roof at the top of R4 (more renders at the LAVA link indicate R5 had a similar form).
Nevertheless, do not stress! The renders posted by CULWULLA are only concept designs and are not detailed renders. They are only Stage 1 Approved and have to go in for Stage 2 Approval in the years to come. And if the towers are not completed until the end of the decade (as the timeline upwards mentioned suggests), we could see some quality designs featuring vertical gardens, riding off the success of One Central Park.
Tx guys for putting up all the deets. A family member is actually pondering purchasing an apt at barangaroo, just waiting to see what the prices will be like..
This shows how the residential towers will break up the bulk of C3.
In regards to the southern cove, does anyone else feel like it is a pointless initiative now? It seems the canal has been scratched and providing the hotel ends up next to R4, the southern cove will be in shade for most of the day. Same goes for the waterfront square. This begs the question - is it worth keeping the southern cove?
It would look so nice and dense if that resi tower is moved toward the International towers (the other side of the canal)! Would look amazing if looking at the development from the north.
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