Recent interest rate rises have done nothing to dampen ongoing demand for luxury apartments in Sydney, with Nick Couloumbis, founder of development company Toohey Miller, set to proceed with a boutique residential development in Sydney’s guilt-edged Elizabeth Bay.
Dubbed No.1 Onslow Place, the six full-floor, three-bedroom apartments range from $8m to $25m (for the double-storey penthouse with private pool) and offers dress-circle, harbourside living on the edge of Sydney’s CBD.
Given that Elizabeth Bay and nearby Potts Point are home to some of the best examples of Art Deco apartment blocks in Australia, No.1 Onslow Place apartments will be an Art Deco heritage-style development.
Being one of only six with no one else on your floor, I think, is the most exclusive way of living in an apartment building
While every property looks over the Arthur McElhone Reserve, each unit from level three and above enjoys a second spectacular easterly view across Sydney Harbour.
The project architect is Alec Tzannes, interiors are by David Hicks and landscaping is by Dangar Barin Smith, while the selling agent is Ben Stewart, senior director at CBRE.
The boutique is expected to feature distinctive brickwork reminiscent of the flowing forms of 1920s architecture, with uniquely curved, wide-format brickwork complementing surrounding buildings.
Couloumbis believes the complete privacy and exclusivity of locations like No.1 Onslow Place, reflect a growing aversion for big buildings.
“Being one of only six with no one else on your floor, I think, is the most exclusive way of living in an apartment building,” Couloumbis said who is keen to develop other projects in Mosman and Woollahra, where he has recently acquired a strategic site.
“It’s incredibly rare to have a full-floor product, direct lift access, and 180 square metres of living space, and I think that helps us stand out in the marketplace.”
Other key features at No.1 Onslow Place include double parking, significant four to five square metre storage space, a back-of-house scullery, and a large, wrap-around balcony with never to be built out views soaring over Arthur McElhone Reserve towards Rushcutters and Elizabeth Bay.
Couloumbis expects No.1 Onslow Place apartments to appeal to people wanting an inner city bolthole and especially downsizers moving from the lower north shore.
Image: No.1 Onslow Place will have a uniquely curved, wide-format brickwork complementing surrounding buildings.
