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Luxury terrace in the heart of Sydney goes for A$23 million
Jun 25, 2023
Luxury terrace in the heart of Sydney goes for A$23 million Sydney
By   Sam Murden, Property Journalist
  • City News
  • Penthouse
  • Property
  • Residential
Abstract: Potential buyers with 1,400 square metres of internal and external living space looking to move out of a cramped penthouse are looking to move to a newly listed Pyrmont property.

The six-bedroom, six-bathroom terrace at 71C Harris Street in Pyrmont is one of three available homes on the Grande Pyrmont Bay Estate.

 

Buyers looking to enter the estate can pay $8.5 million for a four-bedroom and four-bathroom terrace or $19.5 million for a four-bedroom and five-bathroom condominium.

 

The Grand Pyrmont Bay Estate project is located on Harris St and Mount St, close to bus stops, light rail connections to John Street Square and The Star.

 Luxury terrace in the heart of Sydney goes for A$23 million

The developer, TWT Realty Group, has built oversized townhouses at 63, 65A, 69-71 Harris St and 14-16 Mount St, with floor areas ranging from 325 square meters to 410 square meters.

 

Construction of the townhouses began six years ago and was completed by the end of 2021, bringing the listing to market through Chervonne Papworth of Ayre Real Estate.

 

Buyers will only be able to view the property through private inspection.

 

The project, estimated to have a total value of nearly $70 million, was formerly a parking lot site until it was acquired by the developer.

Luxury terrace in the heart of Sydney goes for A$23 million

TWT developer Johnson Yap told The Daily Telegraph that interest from early buyers indicated they were attracted to the property's size and luxury features.

 

"Many people expressed interest in the property, particularly owner-occupiers, including local suburban owner-occupiers and those looking to move back to Australia after living overseas.

 

"When this estate was launched, 11 properties were slowly sold during the 2020-21 pandemic ...... There are now three available for purchase as well.

Luxury terrace in the heart of Sydney goes for A$23 million 

"One of the buyers who lives in Barangaroo paid a similar price for his apartment last year and is now looking for a second property to get more space in the city."

 

In addition to elevators to each floor and luxury kitchens, buyers will have access to a heated outdoor pool and a rooftop terrace overlooking Barangaroo and the Harbour Bridge.

 

Other features include a spiral staircase, parking for four cars, an indoor theater, sauna and wine cellar.

 

"Getting this much space so close to the city makes it a unique property," Ms. Papworth said.

"It's a once-in-a-lifetime opportunity with a bunch of private space that's easy to access."

 Luxury terrace in the heart of Sydney goes for A$23 million

In the past 12 months, the median home price in Pyrmont has dropped 11 percent - with the average cost of buying a property at $2 million.

"One of the biggest draws to this estate is the sense of privacy. If you live anywhere else in the city, it's likely to be in an apartment building or in a group of penthouses that feel cramped.

 

"The massive opportunity presented by the 1,400 square meters of space is not easily replicated in the Central Business District. Combined with features like the marble accents and finishes in the kitchen and lobby, this is a unique property unlike any other."

 

The median home price in Pyrmont is $2 million, down 11.1 percent over the past 12 months, according to PropTrack. The median unit price is $1.15 million, down 4.6 percent over the past 12 months.

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Luxury terrace in the heart of Sydney goes for A$23 million
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