Developer Sells $170 Million in Apartments Within Hours

Australian property developer Crown Group has sold 95 per cent of apartments in its $250 million residential development in the heart of Sydney.

At its launch 

Sydney by Crown sold more than $170 million in apartments within hours. More than 500 property buyers attended the official launch at Sydney by Crown’s 1 Market Street display suite.

Crown Group exceeded their expectation, set out to sell $100 million of residential apartments on the day. The Sydney launch was followed closely by launch events in Singapore and Jakarta.

Iwan Sunito, Crown Group Chief Executive Officer said the success of the Sydney by Crown launch was reflective of a growing demand for high-end property in Sydney and a record result for the company.

“The launch of Sydney by Crown is the strongest launch day result in Crown Group’s history,” Mr Sunito said.

“Sydney by Crown is set to become one of Sydney’s architectural centrepieces, a globally recognised icon, designed in Sydney, for Sydneysiders. Sydney by Crown has captured the attention of the world.

“We received thousands of enquiries from around the world prior to launch and today’s result reflects the strong appetite for high-quality apartments built by developers with a good track record in Sydney.”

All four available penthouses were sold within one hour.

RELATED ARTICLE: Sydney By Crown Display Opens Prior To Official Launch

“Many of our buyers on Saturday were past purchasers of Crown Group apartments, a testament to our reputation and quality of our developments,” Mr Sunito said.

“Crown Group has established a strong brand in Australia and internationally.

“Sydney by Crown mirrors the dynamic, optimistic and ambitious nature of Sydney, where the past and the future combine to create a vibrant, international city.”

The tower will be within walking distance to Sydney’s new waterfront precinct at Barangaroo, new Sydney Convention and Exhibition Centre, Wynyard station and Darling Harbour.

Sydney by Crown comprises of one bedroom, one bedroom plus study, two bedroom, two bedroom plus study, three bedroom and 27th floor penthouses. Apartment prices start from $826, 650.

Construction of Sydney by Crown will begin in early 2015 and is scheduled for completion in late 2017.