Lendlease has revealed its plans for its first luxury apartment tower outside Sydney’s CBD, submitting a Development Application (DA) for the $500 million One Darling Point project in Edgecliff, just four kilometres from the city.
This marks the property giant’s debut in Sydney’s high-demand eastern suburbs, driven by downsizing locals selling large homes.
The 17-storey tower, designed by acclaimed architect Alec Tzannes, will feature luxury apartments, affordable housing for key workers, and retail and hospitality spaces.
The development will also integrate the heritage-listed Commonwealth Bank building from 1941.
The tower’s top floor will offer a four-bedroom penthouse with a rooftop pool and panoramic views of the Harbour Bridge and city, while other apartments will offer expansive views over the CBD and eastern suburbs.
In partnership with Mitsubishi Estate Asia, Lendlease acquired the site for $132.5 million from Anka Property.
The project will include both market-rate and affordable housing, with a height bonus allowed due to the inclusion of affordable housing for essential workers.
Lendlease hopes to begin construction next year, with sales expected to launch in the next 12 months.
Source: AFR.
