The Sydney CBD's ONE30 Hyde Park apartment development will soon take shape as construction starts on what is expected to be Sydney's most luxurious apartment offering.
The 38-level development at 130 Elizabeth Street will look north to the Opera House and Sydney Harbour, and south to as far as Sydney Airport.
ONE30 Hyde Park is a joint venture between the Chinese-based Aoyuan Property Group and Ecove, who have spent the past year working on the site.
Demolition of the old building was completed last June, and excavation is now in full swing. Construction is expected to begin soon which will see the the lower levels of ONE30 Hyde Park become visible to by-passers in a few months.
The building is expected to top-out by early-2018, and full fit-out and completion will take a further 12 months.
As part of the development, Aoyuan and Ecove are creating a entry to Museum Railway Station, which is on their site.
Elizabeth Street is acknowledged as Sydney’s dress circle, and ONE30 Hyde Park is expected to be Sydney’s version of No. 1 Hyde Park in London which achieved prices equating to more than $100,000 per square metre.
“Prices of prime CBD apartments in Sydney continue to rise due to the many attractions of living in the heart of one of the world’s most attractive cities, which is why so many people have been captivated by ONE30 Hyde Park,” Ecove Marketing Director Sue Ballesty said.
“Properties such as this tend to appreciate in value more quickly than average because of their scarcity. They have an obvious ‘wow’ factor, and ONE30 Hyde Park is destined to become one of Sydney’s ‘blue chip’ buildings."
ONE30 Hyde Park was designed by Bates Smart to tap into a demand for the highest levels of luxury, comfort and mesmerising views.
"The interiors are timeless, capturing the spirit and sophistication of those grand London and New York buildings that front the city’s major public park," the designers said.
Ground level will feature a variety of complementary retail stores.
“From the moment residents walk into the grand foyer ONE30 Hyde Park they will be greeted by a concierge and start to experience what gracious living is all about,” said Ms Ballesty.
“Then when they reach their apartment they will gain views that are among the best the city can offer.”
With only a handful of apartments remaining on the market, the developers identified that the bulk of the interest in the building has come from business executives who are enticed by the opportunity to be able to take a leisurely walk to work.