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DA approval prompts final release of exclusive residences at New Life, Darling Harbour

21-Jun-2017


Sydney, 21 June 2017 – Following recent DA approval of its $300 million New Life, Darling Harbour mixed-use development at 495 Harris Street, local property developer, TWT has brought forward the release of the much-awaited, final 50 residences at the development comprising large apartments and one exclusive terrace home.

Perfectly situated within Sydney’s world-class Darling Harbour precinct, which is also currently undergoing a $1 billion upgrade, the 50 remaining properties have been put on the market by selling agents, CBRE.

CBRE Sales Director Ben Stewart, whom is heading up the sales campaign for the development, says the final New Life Darling Harbour offering reflects current market demand.

“We have been seeing a trend for larger apartments that’s gathered momentum in recent years due to a growing population in our city and fringe suburbs as well as the acceleration of urban regeneration, which is seeing the upgrade and redevelopment of older buildings and accommodation in these areas,” Mr Stewart said.

“With changes from July 1 that will allow home owners to sell existing homes and bank $300,000 without this affecting their pension, we are also expecting downsizers to form a number of purchasers at New Life Darling Harbour, as well as surrounding locals requiring a little more space and a more modern, impeccably designed home in walking distance to the CBD.”

The western shore of Darling Harbour and its concentrated revitalisation underpinned by the residential and cultural hub of nearby Darling Square is proving an even stronger drawcard for buyers into the Darling Harbour precinct of suburbs, within which Ultimo has proven the strongest performer of late in terms of capital growth.

Well-connected, well-designed inner-city living

Mr Stewart added that with Ultimo/Darling Harbour units currently experiencing growth of almost 13 per cent in the last 12 months, trumping nearby Pyrmont sitting on almost 7.5 per cent, and yields for rental properties recording a healthy 3.7 per cent, the suburb is still well poised for even further uplift on the back of the $1 billion upgrade and enhanced amenities that the area will receive in coming years.

TWT Director Gavin Zhang, said that it’s the lifestyle offering of New Life Darling Harbour that has captured the imagination of buyers, who recognise its well-connected, well-designed and now also DA approved status, which has been woven together by industry leaders such as Michael Harrison, formerly the architect for the City of Sydney, and now heading up the award-winning practice Architectus.

“Situated directly across from the Ian Thorpe Aquatic Centre, world class swimming facilities are at the fingertips of New Life Darling Harbour residents and this is just one example of how TWT has been able to keep strata costs – usually notoriously high in Darling Harbour, to a minimum, further attracting residents who do not wish to pay for facilities they simply do not need on-site,” Mr Zhang said.

Local buyers who feel they have missed out on securing an apartment at New Life, Darling Harbour now have a strong chance to buy within this sought-after area as the final release of apartments have been guaranteed for local buyers only.

One of Sydney’s ‘most walkable’ suburbs

With one of the best ‘walkability’ scores Sydney has to offer at 98%, Ultimo has been described by the popular website ‘Walkscore.com’ as the fourth most walkable neighbourhood in Sydney.

This is reflected by the suburb’s close proximity of just two kilometres to Sydney’s CBD and just a short walk to a host of the city’s newest and most vibrant lifestyle precincts in Darling Harbour, including the newly opened Exhibition and Convention Centre, Barangaroo as well as The Star Casino in Pyrmont – also soon to benefit from its own upgrade.

The last release comprises approximately 50 luxury residences including a mix of one, two and three bedroom apartments, some with panoramic views to the Sydney CBD, as well as one exclusive two-storey terrace home with private, street level, security access and a secure underground car space.

Darling Harbour’s $1 Billion Revitalisation

Darling Harbour’s $1 billion facelift will see the construction of a new 44-storey office tower, updated retail offerings and a Cockle Bay amphitheatre. Mirvac, the owner of Harbourside Shopping Centre, will also undertake an upgrade of the existing mall, into a state-of-the-art retail precinct.

New Life, Darling Harbour was met with huge buyer interest when it was launched in June last year and buyers have been eagerly awaiting the luxury project’s final launch of apartments.

“With the opening of major lifestyle precincts such as the Streets of Barangaroo and the southern Darling Harbour precinct including the newly opened Sydney Exhibition and Convention Centre, Darling Harbour is becoming more and more gentrified, which will result in increased property values over time,” Mr Stewart added.

“Emerging developments such as New Life, Darling Harbour are also rare for this area so they naturally attract a high level of demand from buyers keen to live in this harbour-side precinct.”

Mr Stewart said TWT’s final release was expected to garner a similar strong response from the market as its first stage, given that the project has now achieved full Development Application approval and is on schedule for completion by around mid-2019.

Acclaimed architects, Architectus were selected to design New Life, Darling Harbour following a design competition. The project comprises 200 apartments within a nine-storey building.

The development will feature a large open-air courtyard area at its heart, ground floor cafe, restaurant and gallery or retail space, a rooftop communal vegetable garden as well as a purpose-build pedestrian laneway beautified with artworks which will connect Harris Street to Bulwara Road.

All apartments are designed with balconies, with some featuring panoramic views to the Sydney CBD and others offering sweeping northern district views to the iconic Anzac Bridge. Prices start from $1.47 million for a spacious two-bedroom apartment and $1.86 million for a three-bedroom residence, while the final terrace home is priced at $2.4 million.

Developer, TWT has a vision for delivering residential and mixed-used developments of the highest design standard that is always infused with art and cultural elements. A passion for the arts underscores the company’s core philosophy and approach to property development with a commitment to delivering ‘environments and precincts of particular beauty’ that leave a legacy for the surrounding community to enjoy for years to come.

Public art and cultural activation is also incorporated into every project, with TWT’s General Manager Stephen Fitzpatrick commenting that the company’s entire motivation springs from a desire to enhance the current locality in which it is developing, to create truly remarkable and beautiful residential spaces.

For further information regarding New Life Darling Harbour, visit: www.newlifedarlingharbour.com.au or call 1300 812 208 for a private appointment.


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