Crown Group hits new sales record with latest Sydney project

SYDNEY (Sept 4): Australian property developer Crown Group sold more than A$380 million (RM1.12 billion) worth of apartments last Saturday at the launch of its latest project, Infinity by Crown Group in Sydney.

Infinity by Crown Group will be built in the heart of Green Square Town Centre.

In addition to residential apartments, the A$575 million mixed-use development will also have 75 luxury serviced apartments.

Buyers flocked to the company’s Market Street head office as early as 8am. Within the first hour, A$100 million in sales had been recorded. Only two units were left by the close of business that day, said Crown Group in a press statement.

Chief executive Iwan Sunito made the decision to release all 326 apartments after the company had received an unexpected number of enquiries.

“The sales result on Saturday was a testament to the building’s extraordinary design and exceptional location close to Green Square train station, a gateway site to the new Green Square Town Centre,” said Sunito.

The result overtook the company’s previous sales record of A$173 million in four hours at the launch of Sydney by Crown Group last year.

More than 70% of apartments at Infinity by Crown Group were sold to Australian residents and citizens.

Crown Group director of sales and marketing Roy Marcellus said buyers on Saturday were a mix of investors and owner-occupiers.

“After months of waiting, it was satisfying to see so many buyers finally secure an apartment on Saturday. There are hundreds who missed out on this project but many of them have already expressed interest in our next project,” Marcellus said.

Designed by Koichi Takada Architects, one of the highlights of Infinity by Crown Group is its residential apartment design of a uniquely looped shape, and a 1,180 sq m open-air garden plaza surrounded by retail outlets, restaurants and cafés.

Awarded the UDIA NSW Concept Design award, Infinity by Crown Group features a void in its north-facing façade, allowing natural light to penetrate a central landscaped plaza, and apartment balconies.

UDIA NSW is the leading industry body representing the interests of the NSW property development sector.

Among the amenities are a fully equipped gym, music room with baby-grand piano, media theatre and sky lounge with Sydney CBD views.

Construction of the project will be completed in 2019.

Crown Group plans to begin accepting expressions of interest for its next residential development later this year.

This article first appeared in property+, a section of the digitaledge DAILY, on Sept 4, 2015. Download property+ for free here.