From Toorak to Rushcutters Bay, the billionaire mogul is backing plenty of luxe apartment projects.
James Packer pushes ahead with new Sydney development.
Two apartments and potentially a whole-floor penthouse have sold in a James Packer-backed apartment development in the wealthy inner Sydney suburb of Rushcutters Bay.
Construction of the 13-unit complex fronting 51-57 Bayswater Road is about to start following the appointment of contractors.
The project will feature 13 three-bedroom apartments priced from $4.5m as well as a full-floor penthouse replete with an outdoor kitchen and rooftop pool.
Developer Third.i Group in partnership with NPACT, have taken two apartment deposits and is currently working “with a penthouse buyer in an exclusive due diligence period exploring potential adjustments to the layout”.
The Rushcutters development.
The recently appointed builder, Dilcara, is also completing Third.i’s Muse development in nearby Potts Point over the coming months.
Known as The Rushcutters, the project was designed by Woods Bagot and aims to blend modern architecture with references to the area’s Art Deco heritage, reflecting the character of its harbourside setting while delivering a contemporary, high-end living experience, according to Third.i.
“The Rushcutters is a meticulously crafted project and an important part of Third.i’s boutique portfolio, and selecting the right builder was critical,” said Luke Berry, co-founder of Third.i in a statement.
Set between Rushcutters Bay Park and Potts Point, the development offers residents immediate access to Sydney Harbour, established dining and lifestyle precincts, and good transport connections.
The purchase price for the penthouse, which comes replete with a butler’s pantry, laundry and guest bathroom, was not divulged.
With demolition now underway, construction of the The Rushcutters project, which was first mooted back in 2024 when Mr Packer became involved, is set to begin mid this year.
Apart from The Rushcutters, Mr Packer, a former casino mogul, is backing several luxury apartment projects in Sydney and Melbourne, often with another developer such as Time & Place or Orchard Place in tow.
His projects stretch from Sydney’s gritty Surry Hills and coastal Manly to the upmarket Melbourne suburbs of Toorak and Kew.
The project is being marketed by Hume Residential in partnership with TRG Projects.
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