PRESS BLOG BANNERS_Media Release-2
Nov
24
2014

SYDNEY BY CROWN RECORD SALES RESULT

(Sydney, Australia) Monday, November 24, 2014 – A landmark Sydney building has sold more than $170 million in apartments within hours of its same-day local and overseas sales launch.

Australian property developer Crown Group has sold 95 per cent of its first and final release of apartments at its $250-million residential development soon to be built in the heart of the city, Sydney by Crown, exceeding all expectations.

More than 500 eager property buyers flocked to the official launch at Sydney by Crown’s 1 Market Street display suite from 8am Saturday morning. Crown Group set out to sell $100 million of residential apartments on the day and after reaching its goal within four hours, made available all stock.

The Sydney launch was followed closely by launch events in Singapore and Jakarta.

A total of $173.1 million in apartments at the landmark 161 Clarence Street building were sold on Saturday including one-bedroom, one-bedroom-plus-study, two-bedroom, two-bedroom-plus-study and three-bedroom apartments and 27th-floor penthouses.
Prices of apartments sold started from $826 650 for a one-bedroom suite.

Crown Group Chief Executive Officer Iwan Sunito 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.

Sydney by Crown is the only new apartment building in the CBD to launch before the end of 2014.

“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,” he said.

All four available penthouses were sold within one hour.

“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.

“We pride ourselves on tapping into local talent and providing a platform for local architects and suppliers to be seen on the world’s stage,” he said.

Designed by internationally renowned Koichi Takada Architects and chosen from a selection of world-class designs during an international design competition, the 25-storey building will feature heritage-inspired lower levels transitioning to a modern glass-and-steel tower, capped with dozens of steel arches.

The unique arches will envelope the tower’s rooftop bar and garden, forming a striking addition to Sydney’s skyline.

Lower levels will include an eight-storey cathedral-like atrium rising 20 metres above street level over a new public laneway between Kent and Clarence Streets, joining historic Skittle Lane.

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 will also be home to a collection of Crown Suites.

The success of Sydney by Crown comes after the launch of Crown Group’s Skye by Crown in North Sydney last year, when more than 110 apartments worth more than $100 million were sold within a week.

Crown Group director of sales and marketing Adam Sparkes said the strong result was evidence of the potential of Sydney’s property market.

“Property buyers are increasingly savvy and well-researched. Sydney is backed by some of the strongest economic and demographic fundamentals in the world for property growth and buyers understand this,” Mr Sparkes said.

“There’s no doubt buyers are buoyant about the future of Sydney property values.

“Sydney is a global destination for a new generation of investors and owner occupiers seeking contemporary luxury apartments and a vibrant city lifestyle,” he added.

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

A selection of less than half a dozen apartments is available for sale.

For more information visit www.crowngroup.com.au

Media Interviews
Crown Group Director of Sales and Marketing Adam Sparkes is available for a limited number of interviews on request.

Editor’s Note

Images and video are available upon request including artist impressions, photographs of display apartments and computer-animated ‘fly-through’ footage of selected Crown Group developments.

Media enquiries

Kate Prideaux, General Manager of Communications & Public Relations
(02) 9925 0088 or 0401 863 436
kateprideaux@crowngroup.com.au

Dominique Kuhne, Communications Executive
(02) 9925 0088 or 0432 230 425
dominiquekuhne@crowngroup.com.au

About Crown Group

Crown International Holdings Group (Crown Group) is a leading Australian property group, active in property development and property investment in Sydney.
The company was co-founded by architect Mr Iwan Sunito and engineer Mr Paul Sathio in 1996.
Iwan Sunito graduated with Bachelor of Architecture (Hons) and Master of Construction of Management from University of NSW. In 1993 Iwan became a Registered Architect in NSW and was awarded the UNSW Eric Daniels award for excellence in residential design.
In recent years Iwan received a number of awards including Indonesia’s Property & Bank Magazine Golden Leadership Award 2013, the 2013 Congress of Indonesian Diaspora Entrepreneur award and named a winner in the 2013 Ernst & Young Entrepreneur of the Year Awards.

Paul Sathio graduated with a Bachelor degree in Civil Engineering from University of Technology Sydney (UTS) and a Masters of Engineering Science from University of NSW. Paul has more than two decades’ experience in the construction and development industry.
Crown Group was recently awarded the Urban Development Institute of Australia (UDIA) NSW President’s award – considered one of the highest property development accolades in Australia – for its resort-style development Top Ryde City Living.
Top Ryde City Living was also named best High-Density Development in Australia at the UDIA awards for excellence 2014 and a Master Builders Association Excellence in Housing award 2013.

Crown Group’s innovative, waterfront development Sanctum by Crown was awarded a Master Builders Association Excellence in Housing award 2012 and its hugely-successful ICON at Homebush was awarded HIA’s (Housing Industry Association) CSR Housing Awards 2007 Apartment Project of the Year.

Since the company was founded 18 years ago, Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes.

Today, Crown Group boasts a $3.5 billion portfolio of projects under development and in the pipeline and is currently developing four major projects, Top Ryde City Living, a seven-tower development in Top Ryde, Viking by Crown, a 10-storey residential complex in Waterloo, V by Crown, a 29-storey residential tower in Parramatta and Skye by Crown a 20-storey development in North Sydney launched in June 2013.

Crown Group launched Viva by Crown, the final stage of Top Ryde City Living in August last year and launched Sydney by Crown in the heart of Sydney’s CBD in November 2014.

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