Doors Barely Open On Paragon Of Pyrmont Before Sales Frenzy
01st September, 2017
Thirdi Group’s luxury development the Paragon of Pyrmont saw more than 400 people attend its official launch this month, representing record interest.
Nearly 50 per cent of the development’s 31 properties were sold almost immediately, with sales ranging from a one bedroom Penthouse Apartment selling for $1,495,500 to one of the townhouses selling for over $5,500,000.
Savills Head of Residential Sales Ged Rockliff said the Paragon of Pyrmont was inundated with close to 1,000 enquiries.
Located in Sydney’s Pyrmont precinct and designed by SJB, Paragon of Pyrmont will feature a range of one and three bedroom apartments along with an ‘exclusive’ collection of three, four and five bedroom residences and five-level terrace townhouses.
“The eye travels across the full length of the imposing 5.5 metre high hallway to a central custom light feature that takes in a stunning architecturally designed stairway with warm timber treads and enclosed rendered balustrades to guide your throughout the luxury home (there is also a lift for greater ease of access),” the developers said.
Each residence will also feature a private basement garage, most accommodating two cars, with a smart home automation system that will recognise when a resident’s car is approaching and automatically open the garage, turn on the lights and ensure the private lift is waiting.
The Paragon of Pyrmont will provide a private rooftop terrace for residents to transport themselves to a lush and private oasis in the heart of the city. Entertainers will be able to benefit from a gas BBQ and fridge.
Thirdi Group is also in talks with TESLA to create one of the first Australian medium density developments to install ‘Tesla PowerWalls’ and ‘Tesla PowerPacks,’ so homeowners can secure power and store off-peak times for private consumption – even in peak times. There is also potential to sell power back to the grid, generating income when away from home.
Construction will commence in September 2017 with completion expected in the first quarter of 2019.
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Paragon of Pyrmont Official Video
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Pyrmont mid-rise plays on its working class past to deliver sustainability
Designed by architects SJB, the Paragon of Pyrmont is the latest mid-rise residential development that is promising to provide a newly-elevated standard of lifestyle to Sydney’s Pyrmont.
According to Jonathan Richards, Director of Interior Design, SJB, while the inspiration behind these apartments is their historic location, the design certainly did not encapsulate any of the stark industrial attributes that were the mainstay of the historically hardscrabble Pyrmont / Glebe waterfront.
“Pyrmont is one of Sydney’s historic city-side industrial neighbourhoods. Its location at the foot of the CBD has made it an extraordinary neighbourhood to live,” said Richards.
“Rather than a monolithic new block, the architecture gives space to the public domain with open landscaped public walkways between the new buildings.”
“They are lined in a bronze mesh that shimmers among the heavily landscaped common areas,” he said.
Luke Berry, from the Thirdi Group said that sustainability was certainly part of the design brief.
“Sustainability is something that is very important to Thirdi Group, not only for Pyrmont, but for all their projects,” said Berry.
“When it comes to Paragon, Thirdi will be focusing on two key elements of sustainability, re-using parts of the sandstone excavated for its basement and incorporating this throughout Paragon’s landscaping, and also embracing the latest in energy storage and management, via an innovative partnership with Tesla.”
“All apartments and terraces will come with their very own Powerwall2 allowing their homes to buy and store energy at ‘off-peak times’ to use later during peak times.”
“This combined with Tesla’s own Artificial Intelligence technology, the Tesla power walls will learn the habits of the home owner’s behaviour and research forecasted weather patterns to predict when the home should lower the blinds and turn the air-conditioning on to cool the home with off peak energy,” said Berry.
The Paragon of Pyrmont apartments are scheduled for completion in 2019.
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Pyrmont project Paragon to address ‘the missing middle’ in Sydney’s apartment market
Wanted: off-the-plan apartments with three or more bedrooms, luxury finishes, oodles of storage and entertaining spaces that won’t depress the heck out of buyers downsizing from large family homes.
Luke Berry, the director of sales and marketing for developer THIRDiGroup, describes the dearth of this style of apartment in Sydney as “the missing middle”.
Occupying a slice of the market between cookie-cutter small units and prestige penthouses, spacious high-end apartments and townhouses have been absent – or devilishly hard to find – in new developments in inner-ring suburbs of Sydney over the past few years.
Sydney has plenty of ‘cookie-cutter’ units built at low cost, but Luke Berry of THIRDi says many buyers want more. Photo: Louie Douvis
“Last year, everyone was focused on SEPP 65 boxes,” Berry says, referring to state planning laws that allow developers to increase the number of apartments if a project meets certain design guidelines.
With investors and first-home buyers in mind, many developers have concentrated on reducing costs to provide a more impressive return on investment and the lowest possible mortgage repayments.
“This in our opinion created a race to the bottom, where architects were instructed to get approvals as fast as possible, with as many apartments as possible, to capitalise on this unprecedented interest in real estate,” Berry says.
Paragon apartments in Pyrmont are THIRDi’s answer to “the missing middle” in Sydney’s apartment market. Photo: Artist’s impression
“This compromised design, lowered the level of finishes and sacrificed space, the three things that are important to the other key buying market that had been patiently waiting for the music to stop on ‘tick box’ apartment selling: the established owner-occupier market.”
It typically takes about two years from development approval to construction completion. Many projects opening their doors to new residents today were planned before developers appreciated the magnitude of demand from cashed-up owner-occupiers, including empty nesters eager to ditch their big family homes without also ditching luxury and lifestyle.
Wanted: off-the-plan apartments with three or more bedrooms, luxury finishes, oodles of storage and entertaining spaces that won’t depress the heck out of buyers downsizing from large family homes.
Luke Berry, the director of sales and marketing for developer THIRDiGroup, describes the dearth of this style of apartment in Sydney as “the missing middle”.
Occupying a slice of the market between cookie-cutter small units and prestige penthouses, spacious high-end apartments and townhouses have been absent – or devilishly hard to find – in new developments in inner-ring suburbs of Sydney over the past few years.
Sydney has plenty of ‘cookie-cutter’ units built at low cost, but Luke Berry of THIRDi says many buyers want more. Photo: Louie Douvis
“Last year, everyone was focused on SEPP 65 boxes,” Berry says, referring to state planning laws that allow developers to increase the number of apartments if a project meets certain design guidelines.
With investors and first-home buyers in mind, many developers have concentrated on reducing costs to provide a more impressive return on investment and the lowest possible mortgage repayments.
“This in our opinion created a race to the bottom, where architects were instructed to get approvals as fast as possible, with as many apartments as possible, to capitalise on this unprecedented interest in real estate,” Berry says.
Paragon apartments in Pyrmont are THIRDi’s answer to “the missing middle” in Sydney’s apartment market. Photo: Artist’s impression
“This compromised design, lowered the level of finishes and sacrificed space, the three things that are important to the other key buying market that had been patiently waiting for the music to stop on ‘tick box’ apartment selling: the established owner-occupier market.”
It typically takes about two years from development approval to construction completion. Many projects opening their doors to new residents today were planned before developers appreciated the magnitude of demand from cashed-up owner-occupiers, including empty nesters eager to ditch their big family homes without also ditching luxury and lifestyle.
It goes some way towards explaining anecdotal evidence from agents and developers that more buyers are snapping up smaller adjoining off-the-plan apartments with a view to removing walls to create spacious new homes.
Paragon will be a collection of 31 apartments and townhouses. Photo: Artist’s impression
“They might live in a $5 million to $10 million home on the city fringe, for example Mosman, Balmain or the eastern suburbs, and they’re looking for an inner-city location they can buy now and retire to,” Berry says. “They’ve lived in a big, beautiful home, they’ve raised a family and they’re used to having large living areas and al fresco dining spaces. They still want to feel like they have a flowing, open-plan property.”
With this market in mind, THIRDi Group is about to launch Paragon of Pyrmont, a collection of 31 apartments and townhouses, all but two of which have three or more bedrooms.
A commercial building will be knocked down to make way for 11 apartments, 20 townhouses and two commercial spaces in two low-rise buildings designed by SJB Architects, with interiors by SJB and Coco Republic and landscaping by Black Beetle.
Paragon’s facade fronts are designed to maximise space and natural light. Photo: Artist’s impression
The inclusions list features a bevy of high-end suppliers. Bang & Olufsen entertainment units will rise from custom cabinetry at the press of a button, Gaggenau appliances are integrated into bespoke joinery and there are plans for TESLA PowerWalls and PowerPacks, private wine cellars and home automation technology fit for a secret agent.
Jonathan Richards, a director of interior design at SJB, says the project takes as its inspiration Pyrmont’s gritty personality, forged in its industrial past, beside the gleaming CBD.
“Rather than a monolithic new block, the architecture gives space to the public domain with open landscaped public walkways between the new buildings,” Richards says.
“We have designed the apartment interiors at Paragon to capture a sense of raw luxury,” interior designer Jonathan Richards says. Photo: Artist’s impression
The facade fronts are designed to maximise space and natural light. All apartments have floor to ceiling glazing spanning at least one, if not two street frontages. Articulated Nordic copper and bronzed screening allows residents to choose between privacy or inner-city views.
“We have designed the apartment interiors at Paragon to capture a sense of raw luxury,” Richards says. “These are not showy spaces – they have understated elegance with polished concrete floors, sweeping curved white walls and timber ceilings.”
Paragon is also expected to appeal to high net worth individuals, young professional singles and couples with no children and wealthy Australian-based Chinese buyers.
Incentives for downsizers announced in the 2017 federal budget are expected to increase the demand for “middle market” apartments.Photo: Stefan Postles
Agent Ged Rockliff, head of residential for Savills, echoes Berry’s observation that there is a shortage of high-end, off-the-plan apartments, driven largely by lowly geared or debt-free downsizers who value privacy, seclusion and space.
“There are more buyers competing for small and smaller amounts of stock,” Rockliff says.
Location, as always, is another important factor. Pyrmont has undergone a remarkable transformation from harbourside hub of industry to lifestyle hotspot. Today, apartment buildings from the 1990s share the suburb with quaint Victorian terraces and ultra-modern office buildings.
The light rail stops at The Star casino. A crop of hip cafes, bars and restaurants has opened on Harris Street, Darling Harbour is shedding its daggy 1980s image and the Bays precinct, including Sydney Fish Market, is set for a dramatic revamp – all this and Paragon is less than 1.5 kilometres from Pitt Street Mall.
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Thirdi Group Unveils Luxury Paragon Of Pyrmont
Paragon of Pyrmont, Thirdi Group’s latest residential development to be unveiled promises to deliver stunning living at an unparalleled inner city location in Sydney’s Pyrmont.
Designed by architects and interior designers, SJB, Paragon of Pyrmont to be located on Miller Street features a range of luxury one and three-bedroom apartments and exclusive three, four and five-bedroom residences.
Ahead of its official launch the developer has released pricing of from $1,595,000 for a one-bedroom apartment; from $2,775,000 for a three-bedroom apartment; from $3,995,00 for a three-bedroom terrace, with pricing for a four or five-bedroom terrace available upon application. There are 31 residences available in all.
Paragon’s pinnacle are its remarkably luxurious 5-level terrace townhouses, which impress from the moment you cross the threshold via a stunning double height entry on level one. The eye travels across the full length of the imposing 5.5m high hallway to a central custom light feature that takes in a stunning architecturally-designed stairway with warm timber treads and enclosed rendered balustrades to guide you throughout the luxury home (there is also a lift for greater ease of access).
Polished concrete floors extend into the first level generous bedroom, which features a large bay window to capture abundant light from the street and large private ensuite. Level two can be configured as a second bedroom or living room with open balustrade overlooking the hallway atrium. There is a study nook and another private ensuite bathroom on this level and terraces 10 – 21 also include a private balcony off the main bedroom.
Level three is the master bedroom wing, extending the full width of the terrace over the atrium at the entrance to allow you to use the entire floor plate. In select townhouses, these oversized bedrooms are drenched in light with floor to ceiling glass facades.
Private bathrooms on this level are masterfully designed, with an inspired circular bath and separate curvilinear enclaves for the toilet and shower.
The kitchen and living areas on level four highlight Paragon’s finest detailing, including Rogerseller-style ‘touch activated’ cabinetry to maximise all available space. Gaggenau appliances, including a French door fridge and freezer combo, are featured. The timber floored living area (extended throughout the terrace) features integrated joinery for a mix of sophisticated storage and entertainment cabinetry, which like the kitchen will be ‘touch activated’.
The private rooftop terrace on level five is exclusive to each townhouse. Lush landscaping screens you from the neighbours creating a truly private oasis in the heart of the city – complete with a gas barbecue and fridge.
Focusing on space and design, Thirdi Group limited the number of one and three bedroom apartments in order to deliver the highest standard of product in Pyrmont. The single plate apartments will feature floor to ceiling glazing for light bathed interiors and the opportunity to use Paragon’s external bronze/copper articulated screening to customise their privacy. The articulated Nordic copper and bronzed screening delivers privacy while still allowing residents the option to open and close at their leisure – framing Pyrmont’s outstanding inner-city views or its tree-lined streets and heritage architecture. A selection of these apartments have been activated with private roof top terraces allowing residents to enjoy exclusive access to a large roof top terrace and balcony area with city skyline views.
Landscaping across the development by Black Beetle ensures a lush green outlook in the centre of the city. Huge vertical gardens are incorporated into Terraces 1-5, 10 and 21 with custom lighting and potential water feature visible from all bedrooms, bathrooms and living areas.
With innovation paramount, Paragon of Pyrmont residences will integrate the latest in advanced automation and green technologies.
Furthermore, each residence features a private basement garage, most accommodating two cars, with a smart home automation system that recognises when a resident’s car is approaching the garage and open automatically, turning on the lights (even into the terrace, depending on individual settings) and ensuring the private lift is waiting to ferry them up to their home. The generously sized garages also have ample room for a laundry, bike racks, additional storage and even a temperature-controlled wine cellar for up to 1000 bottles.
Thirdi Group is also in talks with TESLA to create one of the first Australian medium density developments to install ‘Tesla PowerWalls’ and ‘Tesla PowerPacks,’ so homeowners can secure power and store off-peak times for private consumption – even in peak times. There is also potential to sell power back to the grid, generating income when away from home.
Paragon of Pyrmont will launch in June, 2017. Construction will commence in September 2017 with completion expected in the first quarter of 2019.
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Torrens-titled new homes circling back into inner-city Sydney
Rising Sydney developer Thirdi Group will build 37 rare Torrens-titled townhouses in Sydney’s inner south suburb of Alexandria at a recently acquired $23 million, 3300sq m site.
The development approved project, to be named The Gentry, is a kilometre south of the future Green Square township and retail epicentre and will feature standalone heritage-facade homes converted from industrial warehouses.
While Thirdi is still in the early stages of planning the project, future buyers can expect to pay between $2.1 million and $2.3 million for new-build 130sq m to 140sq m houses with a basement link to a garage, a rooftop garden as well as wine storage areas. SJB Architects have been engaged to design the project.
At these prices, the townhouses will be comparable to current apartment prices in Sydney but they benefit from one thing: they are not part of a strata corporation. Owners will not have to manage any joint property.
Torrens-titled brand new houses in inner-city areas are hard to find, with land values forcing developers to move upwards into more dense residential towers for projects to be feasible. Ordinarily, buyers flock to outer suburbs for more standard Torrens-titled house and land packages.
As prices of sites start to change, as the boom of construction starts to ease, standalone Torrens-titled projects like The Gentry will become more common down the track, Thirdi marketing director Luke Berry said.
It is understood that Sotheby’s International is also marketing another Torrens-titled project in the same area.
Brisbane-based developer Metro Property Development’s Sydney team, which has been busy with smaller lot 300sq m house and land packages in growth centres like Spring Farm and Catherine Field in Sydney’s south-west, is also looking to replicate its small-build model to create Torrens-titled homes closer to the CBD.
Metro’s Phil Leahy said the company can do this easily through its building arm Creation Homes and the company is looking for sites.
On The Gentry, Thirdi worked with property management company Milligan Group to secure the site with Milligan responsible for the warehouse amalgamation. This project will be a deviation from Thirdi’s staple apartment portfolio which includes the Paragon on Pyrmont in the CBD, which launches this weekend.
WATERLOO PENTHOUSE AT THE ICONIC ON ELIZABETH ST WILL BE ONE OF SYDNEY’S BIGGEST
FORGOT Potts Point or Darlinghurt, Sydney’s most luxurious apartment will be built in the heart of Waterloo.
At a price point of almost $4.5 million, the enormous penthouse will span 300 sq m at the top of the heritage 1921 CHUBB building, combining two properties to form one of the largest apartment spaces in the City of Sydney.
As part of a partnership between Thirdi Property Group and the Milligan Group, the Iconic development at 830 Elizabeth St will boast a 12.5m lap pool — the largest in the whole local government area.
An artist impression of the 12.5m rooftop pool.
The mega penthouse will also have a 112-sqm private rooftop with views over Waterloo Park, marking the development as one which will “define the suburb,” said spokesman for Thirdi Luke Berry.
Mr Berry said the apartment — which offers up to four bedrooms, three bathrooms and two car spaces — was perfect for an increasing number of prospective city-dwellers who wanted an apartment living lifestyle without sacrificing space.
Inside the penthouse apartment, designed by SJB.
The penthouse, architecturally designed by SJB and with interiors styled by Coco Republic, will come with integrated appliances, concrete tiled flooring, stone benchtops.
An entire wing of the penthouse apartment will be dedicated to the master bedroom, which will feature a large ensuite, a walk-in wardrobe and a study, leading out to the private terrace.
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Mega Penthouse coming to ICONIC, Waterloo
In response to the increasing demand for larger premium apartments in Sydney’s inner ring, residential project ICONIC in Waterloo is about to combine two penthouses into one incredible residence.
Developers THIRDi Group and Milligan Group have already seen unprecedented success with their ICONIC project, which set new records in the area with several penthouse apartments selling over the $25,000 per sqm mark.
But now they are offering a rare lifestyle opportunity by combining two of ICONIC’s premium penthouses into one Mega-Penthouse.
Says Luke Berry, Director at THIRDi Group, “We had a number of local agents asking us for something within our premium ICONIC project that was bigger than anything else on the market. We began to explore the options and realised combining two penthouses into one would deliver something really special.”
Joining the two remaining penthouse apartments has resulted in an outstanding home spanning over two levels. A unique and private retreat, it features three oversized bedrooms, two bathrooms and two car spots.
The master bedroom takes pride of place in its own wing that features a beautifully designed walk-in wardrobe, a spacious ensuite, a study and a generous private balcony that overlooks Waterloo Park and beyond for impressive views of the city and surrounds.
It also offers a large 112-sqm private rooftop terrace featuring plenty of space to relax, entertain and dine with friends around the 12.5m x 2.5m lap pool – a rare commodity in Sydney’s property market.
Since launching, close to 90% of ICONIC’s apartments have sold off the plan to local buyers drawn to the price, premium location, desirable heritage conversion and boutique size of the project.
Priced at $4,495,000 the Mega-Penthouse was architecturally designed by renowned SJB with exquisite interiors styled by Coco Republic. Its creation is indicative of the growing demand for larger, luxury apartments in Sydney’s inner city, particularly from downsizers and new families wanting a city location without compromising on space.
Located at 830 Elizabeth Street, Waterloo, this boutique residential project features active commercial space and offers a real slice of Sydney’s history, being housed within the heritage 1921 CHUBB building with all its Art Deco grandeur. Leaving the facade in place ensures these luxurious residences remain true to the surrounding architectural landscape and maintain an essence of its character.
This desirable, amenity-rich location is just a five-minute walk to Green Square Station and the $440million master planned Green Square Centre.
For more information or to enquire about this once-in-a-lifetime property at ICONIC, click here.
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Thirdi Foundation For Youth Charity Golf Day 2017
The 2017 Thirdi Foundation for Youth Charity golf day was an absolute hit!
Words cannot express how thankful we are for everyone who participated by taking a swing in support of our vision to help make a difference to the children who have suffered the loss of a parent.
With the funds raised, The Thirdi Foundation For Youth will be able to provide essential support to children and the family who cares for them to sustain a level of normality during this devastating time.
To find out more about Thirdi Foundation For Youth, visit thirdifoundationforyouth.com.au
We can’t wait to tee-up with everyone again next year!
The 2017 Thirdi Foundation for Youth Charity golf day was was an absolute hit!Words cannot express how thankful we are…
For the full album, visit our facebook page www.facebook.com/thirdigroup
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How to secure the most lucrative property in Sydney
In the past 10 years, Sydney has experienced rapid growth and an increasing shift towards urban living. Australia’s most populated capital city hit 5 million in 2016 and is expected to reach 6.42 million in just 20 years time. The potential for investors to capitalise on the current property boom in Sydney is huge and here’s how you can do it.
Making the right investment choice now
You’ve decided you want to invest in Sydney but what next? The demand for high density living, particularly around the inner city suburbs, makes investing in an apartment a smart move. Choosing the right location is absolutely critical, and knowing which suburbs have the greatest growth potential and infrastructure in place will ensure the best return for your investment in the future.
Roughly 1 in 5 Australians call Sydney home, with the city welcoming more than 1,500 new residents each week.
Waterloo – one of Sydney’s most liveable suburbs
If you look at what a tenant or owner-occupier is looking for when it comes to living the ultimate urban lifestyle, Waterloo fits the bill. The inner city suburb located a mere 4km from Sydney’s CBD is ranked within the top 20 most liveable suburbs and it’s not hard to see why.
Waterloo is fast becoming one of Sydney’s most vibrant cultural and culinary epicentres, and its close proximity to transport links and amenities such as shopping, parks, schools and employment hubs makes it an attractive area to live or invest. The suburb is also within walking distance of the largest urban renewal project in Australia – the Green Square Project – a new major centre around the Green Square Railway Station, which will deliver new homes and infrastructure between now and 2030.
Why invest in Waterloo?
As an investor, you want to ensure you’re attracting the right tenant for your property. With a median age of 30, Waterloo’s prosperous demographic consists largely of a mix of executives and professionals on double incomes. The suburb’s average household incomes are 20% above the Sydney LGA, currently sitting at $2,500 per week.
Over the past 10 years it has experienced unprecedented growth at an average rate of 7-10%, and it’s showing no signs of slowing down, with a forecasted growth of 53% over the next 10 years. With a high rental value and over 75% of properties being rented, this suburb is never short of tenants.
7 out of 10 Sydney residents have either lived in an apartment/unit or are currently living in one.
Something truly iconic in Waterloo
More than 80% of dwellings in Waterloo are apartments, and the latest sought after boutique development is set to create a new standard of living in Waterloo. Sydney’s latest icon, Iconic of Waterloo is steeped in timeless heritage, industrially inspired design and luxury living all rolled into one. This one of a kind development consists of 76 beautifully designed apartments, with a thriving commercial space that is housed within the historical 1920s built Chubb factory. Located at 830 Elizabeth Street, Iconic is less than 500 metres to Green Square Train Station and shopping precinct and directly across from Waterloo Park.
Emerging property developers Thirdi Group and Milligan Group have combined forces with the very best in design to deliver something exclusive to a market dominated by master-planned communities. Impressively created architecture and interiors by SJB, with styling by Coco Republic, the finishes of these apartments will be second to none.
50% of Sydney residents who have never lived in a high density setting say they would consider apartment or unit living.
Take a tour of Iconic
Experience Iconic of Waterloo for yourself in augmented reality via ARTi app. Simply download the application to your smart phone or tablet to see this property come to life in this new form of reality.
Given how the property market is trending, the prices of today may not be available tomorrow, so as investors it’s important to act now. Iconic of Waterloo is located at 830 Elizabeth Street, Waterloo. Register your interest today for a complimentary property report or call Thirdi Group on (02) 9409 7200.
Incentives for downsizers announced in the 2017 federal budget are expected to increase the demand for “middle market” apartments.Photo: Stefan Postles
