ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Sirius Launch Takes More Than $400m

61c5af82-99d8-42b1-9930-fc244b1eab50

It was once home to some of Sydney’s most vulnerable, but brutalist icon the Sirius building has been reimagined as luxury residences and more than $400 million worth of sales were made at a launch event at the weekend.

CBRE senior director of residential Ben Stewart said three penthouses were sold at the weekend and 17 of the building's 76 apartments remaining.

“I would say about 90 per cent [of buyers] have bought to move in,” Stewart said.

“Its boutique size, and not being a big high rise, has really appealed to the buyers.

“It’s well situated and well designed … we’re anticipating people will move in at the end of 2022.”

Stewart said the buyers were all Sydneysiders looking to move to the inner-city area and enticed by its views.

▲ Infinity pools with views to the Sydney Opera House and the harbour will transform the Sirius building into luxury residences. Image: BVN
▲ Infinity pools with views to the Sydney Opera House and the harbour will transform the Sirius building into luxury residences. Image: BVN


The last of its housing commission residents were evicted from the landmark building at The Rocks in 2018. Former Macquarie banker Jean-Dominique Huynh bought it for $150 million in 2019.

Its penthouse sold for $35 million last week. A second penthouse was sold for $19 million to a buyer from Coogee, netting JDH Capital $54 million.

The larger $35-million penthouse was built as a pod on top of the pre-existing building with a floorplate of 311sq m, and sold at $112,540 per square metre.

The Sirius building was built in 1979 and has been lauded as an exemplar of the Australian brutalist architecture movement, but it also attracted derision.

▲ The former Housing Commission tower is being refurbished and is due to be complete at the end of 2022. Image: supplied
▲ The former Housing Commission tower is being refurbished and is due to be complete at the end of 2022. Image: supplied


BVN Architects were engaged to restore and modernise the building, with 360 Degrees Landscape Architects to reinstate internal landscaping.

Internal walls would be removed to develop larger luxury apartments, while infinity pools overlooking the Sydney Opera House would be built as part of the overhaul.

The NSW government refused to heritage-list the building, which many considered an eyesore, despite an unanimous vote by the Heritage Council to retain it.

The Save Our Sirius campaign was launched to protect the building and supporters were pleased the landmark was being retained.

Prices for one-bedroom apartments start at $1.7 million, with penthouses from $12 million. There were 17 apartments still available, including three premium apartments, according to Stewart.

ADVERTISEMENT
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://www.theurbandeveloper.com/articles/sydneys-400m-appetite-for-sirius