One Circular Quay is certainly making waves in the luxury real estate market, approaching the status of an architectural icon.
If you're eyeing one of these exclusive apartments, you'll need to act fast—90% of the building's 158 residences have already found buyers, accumulating around $2 billion in sales.
Most recent purchasers hail from Sydney’s eastern suburbs or northern shore, although a few are coming from interstate. Surprisingly, just a quartet of buyers are international. This outcome highlights that local demand is robust enough to fill the premium listings without significant foreign investment.
Demand and Pricing Trends
Initial releases of two-bedroom apartments, which lack car spaces, sold between $6 million and $8 million. The current lowest entry is $12.75 million for a three-bedroom unit.
Intriguingly, several buyers already own properties in Lendlease's other high-profile development, One Sydney Harbour at Barangaroo—where the highest apartment sale in Australia at $141 million recently occurred. Some buyers even plan to alternate their residences, spending weekdays in one and the weekends in the other.
The crown jewel is undoubtedly the three-level penthouse, featuring marble akin to that used in the Palace of Versailles and boasting an infinity pool with a breathtaking view. This prime property is still available, with a staggering asking price of $150 million, which could set a new national record.
Exclusive Access and Interior Features
While the penthouse is yet to be accessible for viewing—completion is planned for late this year, with the penthouse finishing in the following year—visitors can tour a sub-penthouse on the 52nd floor, currently undergoing interior finishing by noted designer Daniel Goldberg.
Despite the construction bustle, the design brilliance is evident. The showcased model flaunts four bedrooms, a study, and recently achieved its own lofty price of over $60 million. Four additional sub-penthouses remain for sale.
Standing in the winter garden, the stunning views stretch across the harbor, including the ferries below and the Heads, with the city’s skyline looming in the distance.
As Steven Chen from The Agency states, “It’s hard to drag people away from that view, especially the interstate buyers.” The sub-penthouse, offering about 600 square meters—comparable to a large home—promises to deliver an extraordinary living experience.
Interior Design and Amenities
Views from the residential units wrap around the iconic Sydney Harbour, with the main and secondary kitchens designed for utmost functionality and elegance, featuring refined materials and high-end appliances. The master suite stands out with a panorama of the Harbour Bridge, complemented by its marble ensuite with views of Barangaroo.
Residents will enjoy grand dining and living spaces, tailored for both formal occasions and everyday leisure. A well-placed cut in the wall can accommodate a sizable television or serve as a backdrop for an impressive artwork—emphasizing the luxurious lifestyle expected of such high-end residences.
The quality of the finishes is exemplary, featuring lavish timber veneer and the finest Italian marble throughout, from kitchens equipped with $30,000 Sub Zero refrigerators and Wolf appliances to the meticulously designed bathrooms.
When asked whether One Circular Quay is the best in the world, perspectives vary; nevertheless, in terms of market value, $150 million can certainly be viewed as a bargain against the backdrop of global luxury apartments. For example, the penthouse at Mareterra in Monaco fetched over $800 million, while the Central Park Tower penthouse and other offerings at One Hyde Park in London are valued upward of $360 million.
A Unique and Iconic Location
According to Steven Chen, One Circular Quay holds its own on a global scale due to its unmatched quality of finishes and an extraordinary location. “The position is globally iconic, unmatched, and cannot be repeated in Sydney Harbour,” he asserts.
He further elaborates, “The project perfectly balances large-scale living with bespoke design, enhanced by majestic views, round-the-clock service, and a suite of amenities.”
Daniel Baxter, Executive Director Development NSW/ACT, sums it up: “One Circular Quay embodies a rare blend of location, design, and quality, with each residence showcasing views of Sydney’s most celebrated landmarks—the Harbour Bridge and the Opera House.” He continues, “The attention to detail throughout the project resonates with buyers who appreciate both natural materials and refined craftsmanship, while amenities aim to complement, rather than overshadow, the harbour setting.”
Such unmatched demand, particularly among domestic buyers who realize the magnitude of this opportunity, underscores the project's significance in Sydney's tightly held real estate landscape.