Even as the market cools, Potts Point is still hot property.
Buyers are flocking to this exciting pocket of Sydney’s East to take full advantage of city proximity, top-notch restaurants, great shopping and transport options galore. Of course, this level of demand brings attention from property developers, so it’s no surprise that there’s no shortage of stunning properties to buy in the premium developments – and redevelopments – popping up all over the blue-chip 2011 postcode. Let’s take a look at some of the new developments in Potts Point and surrounds.
Like many of Potts Point’s new developments, IDA was built on the foundations of a heritage-listed building, in this case the Calidad Building from 1974. The $16 million development sits on top of one of the sandstone cliffs found throughout the suburb, so despite only being six levels, residents can benefit from sweeping views of the harbour from the communal rooftop terrace, or just spend time in the garden courtyard. It seems the IDA team are blending greenery with the bright lights of the city.
A project by developers IPM, architects WMK and designers SJB, IDA has 30 residences, with one-, two- and three-bedroom options all up for sale now. IDA is located at 153-165 Brougham Street in Potts Point.
Encore at Advanx
I’ve talked about the redevelopment of the historic Advanx site previously, but there’s another new project now underway on the same site. The five-storey Encore at Advanx will add an extra 40 apartments to the Rushcutters Bay location, as part of a project by Tasman Development. Encore is entirely residential, though the large neighbouring Advanx complex by Lindsay Bennelong Developments is mixed-use, so Encore residents will still have retail and dining right on their doorstep.
Encore at Advanx is under construction now and is located at 18-28 Neild Avenue in Rushcutters Bay.
When it comes to Potts Point and Kings Cross real estate, you might not get a more prominent location than Omnia – all you need to do is head for the iconic Coca-Cola sign and you’ll be basically right on the doorstep. At 111 Darlinghurst Road in Potts Point, Omnia is right in the middle of the action, a fact the developers and architects are making the most of with the mixed-use development. At 19 storeys, the complex is one of the area’s larger new builds, housing 135 apartments and two levels of retail.
Representing more than just the demand for apartments in Potts Point, Omnia’s takeover of the old Crest Hotel is also a great example of new developments breathing new life into the area.
Omnia is still under construction but taking enquiries now. Greenland are the developers behind the project, with the elegant design by award-winning architects Durbach Block Jaggers.
Developments in heritage listed buildings tend to have some opposition, but The Hensley attracted more controversy than most when a heritage-listed wall of the old Hensley Hall was demolished without council consultation. But interested buyers have nothing to worry about – the old wall is being reconstructed with the original bricks and the apartments themselves are beautiful examples of contemporary architecture, blending the old high ceilings with modern elements.
The development is an update on two heritage terraces on Bayswater Road, becoming an eight-storey complex with 44 apartments. There’s a communal rooftop terrace in this development too, signalling a trend in some of the luxurious new builds that know the value of a lovely water view.
The Hensley is designed by architects Woods Bagot and developed by Roxy Pacific.
More projects are on the horizon in Potts Point
On top of all these new buildings, there are still more development applications sitting with council, and I’m sure there’ll be more and more to come as developers take advantage of this great suburb. A 21-dwelling apartment building at 10 Challis Avenue has been approved, as well as an 83-dwelling complex still under assessment on Darlinghurst Road. Keep your eyes open for more opportunities to grab a beautiful property in Potts Point – it’s an exciting time to be a buyer.
To buy your next property in Potts Point, get in touch with me today.