Sydney’s blue-ribbon suburbs in the inner west are in line for a slew of new luxury harbourside apartments.
Made Property’s Corsa Mortlake, on Majors Bay, comprises 20 three-bedroom apartments and has been given the go-ahead by the City of Canada Bay.
Described by the builder/developer as the last significant parcel of land at the end of Tennyson Road at Mortlake Point, the site at 1134A-140 Tennyson Road, Mortlake is next door to the exclusive Breakfast Point residential community and about 15km from the CBD.
Designed by SJB, the residences feature water views, basement parking for up to three cars per apartment and a 23-berth marina which would accommodate boats from 12m to 20 metres.
The marina will also include a small kiosk for takeaway coffee and food.
Made Property development manager Todd Moody said Corsa Mortlake “will offer a truly exceptional boutique waterfront development ideal for local downsizers looking for the ultimate lifestyle investment potentially with the added convenience of mooring their boat at their residential address”.
Made Property is an ICIRT-rated builder/developer so the development will be built in-house. Demolition of the existing structures on the site is to be done later this year and the project is due for completion late in 2025.
It will be lauched to the market early next month.
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Sydney’s status as a luxury residential market has been cemented globally with the news it ranked ahead of Paris, Geneva and Orange County in the year to March, according to Knight Frank research.
Knight Frank head of residential in Australia Erin van Tuil said that during the past five years, the Sydney market had matured and would attract more international buyers.
“In more affordable markets domestic buyers tend to dominate, while in more expensive markets the importance of international investment rises,” van Tuil said.
However, in Sydney’s market, where the median price of a house is $1.3 million and those closer to the city increased exponentially, super-prime apartments were looking increasingly attractive.
Another waterfront development in Sydney's inner west has also got the go ahead.
Canada Bay Council has approved Sydney developer Central Element's Bianca development at 2C-2D Wolseley Street at Drummoyne.
The SJB-designed 12 three and four-bedroom apartments feature views across the Sydney Harbour to the CBD and will range from 120 to 290sq metres.
SJB principal Adam Haddow said he wanted to create a home that was “completely connected with its location”.
“The architecture is in response to the site’s unique topography, with individual rooms and openings adjusted to ensure that views and privacy are maximised,” Haddow said.
“Each home features spaces that immerse you in the incredible location, with generous open plan living and dining areas flowing out to oversized balconies allowing residents to see the water, feel the breeze, soak in the sun, and enjoy waterfront living at its finest.”
Central Element managing director Nathan Chivas said the expansion into the inner west elevated the developer’s position in the market.
“This rare opportunity reflects our vision of seeking out exceptional sites in premium suburbs to build luxurious living spaces of the highest quality,” Chivas said.
“Our position as a force in the luxury residential market was further bolstered with the DA approval on the world-class mixed-use landmark Hyde Park site earlier in the month.”
Chivas said he was expecting record-breaking sales at Bianca. The developer is planning to break ground in early 2024.
