The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
6
print
Print
OtherMarisa WikramanayakeWed 10 Aug 22

Iwan Sunito Launches New Property Company

One Global Residences and Resorts will soon rebrand and rename the Mastery project at Waterloo, offering apartment residents access to high-level hotel-style amenities and services.

Architect and developer Iwan Sunito is launching a new company to provide luxury hotel-style amenity to apartment residents in mixed-use hotel and residential projects.

The Crown Group chairman and chief executive said what people wanted had changed massively over time. 

“Australian lifestyle choices are changing,” Sunito told The Urban Developer.

“The four or five-bedroom trophy home with a huge back yard and a pool isn’t everyone’s dream home anymore.

“Things are more transient, people change jobs all the time and they want to live somewhere where they can access services and amenities.”

The new company, One Global Residences and Resorts, will run hotel and residential projects where residents will be able to access a concierge plus other services and amenities that were usually reserved for high-end hotels.

Sunito explained that it also made it more cost effective.

“The offering combines both the building management side of things with the hospitality and services side of things,” he said.

“It makes it cheaper for the body corporate as well.

“We used to provide many of the amenities within the residential projects and what we found was that it isn’t even 10 per cent of the residents who use them.” 

The first property to become part of the One Global Residences and Resorts brand will be the $500-million Mastery project planned for Waterloo in Sydney's inner south.

One of the buildings at the Mastery project in Waterloo designed by Koichi Takada and developed by Crown Group.
▲ One of the buildings at the Mastery project in Waterloo designed by Koichi Takada and developed by Crown Group.

It will undergo a rebranding and be renamed One Mastery. 

One Global will then file plans in September for a development at Macquarie Park with a total estimated cost of $350 million.

The Kengo Kuma, Koichi Takada and Sydney-based Silvester Fuller- designed Mastery is attracting interest from local buyers keen on a village-style lifestyle, the company said.

One Global has estimated that the Macquarie Park project will attract around 30 to 40 per cent professionals, 30 to 40 per cent young families and 20 per cent students.

The group's next project is earmarked for Chatswood with a $750 million total cost. 

Sunito estimated that the development control plan for that site would go through early next year with a launch to market in 2024. 

The Chatswood project is aimed at an older market, especially downsizers looking for larger than usual apartments.

Sunito estimated that about 50 to 60 per cent of the market One Global and Crown Group has engaged with over these projects is locally based with 30 to 40 per cent being international buyers. 

One Global also has its eye on a property in downtown Los Angeles for a 20-storey development that will come under the brand as well as a project on Victoria Avenue in Brisbane’s West End. There is also the Artis project in Melbourne’s Southbank which has 150 units.

He said One Global would also engage in the build-to-rent space with apartments at Mastery, V, Arc, Infinity, Waterfall, and The Grand Eastlakes projects set aside for this market.

Crown Group's The Grand Residences at Eastlakes in NSW, soon to be part of the One Global Residences and Resorts brand.
▲ Crown Group's The Grand Residences at Eastlakes in NSW, soon to be part of the One Global Residences and Resorts brand.

For Sunito, the plan to allow residents to access high-level hotel amenities and services also creates a sense of community. 

“I’m a champion of the middle-priced market,” Sunito said.

“As much as I am offering an amazing architectural building here and there, I am mindful that my price point is the $1 million to $1.5 million.

“I just enjoy that middle market a lot more than flying with a brand like Shangri-La, Mandarin and the like as oftentimes it caters for only a small group of society.

“I get a sense of satisfaction when I see people living with joy, having a facility that can only be compared to a five or six-star hotel but yet they are accessing it within the price range that I am offering.”

ResidentialHotelAustraliaMelbourneBrisbanePlanningReal EstatePlanningSector
AUTHOR
Marisa Wikramanayake
The Urban Developer
More articles by this author
ADVERTISEMENT
TOP STORIES
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Exclusive

Soheil Abedian: What’s Driven the Man Who’s Transformed a City

Phil Bartsch
7 Min
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
Exclusive

Where 600 Wealthy Families Are Putting Their Millions

Taryn Paris
6 Min
Brique Projects EDM
Exclusive

Brique Thrives in Cauldron of SE Queensland Development

Clare Burnett
7 Min
View All >
Queen's Whard EDM
Hotel

Star Back to Square One After Queens Wharf Deal Collapses

Clare Burnett
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
Developers and universities have been warned they must smarten up to succeed as PBSA takes off…
LATEST
Queen's Whard EDM
Hotel

Star Back to Square One After Queens Wharf Deal Collapses

Clare Burnett
3 Min
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

2 Min
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/iwan-sunito-crown-group-one-global-waterloo