Coronation Property Managing Director Joe Nahas and the world-renowned design firm Woods Bagot teamed up for the development of the iconic 8 Phillip Street in Parramatta. The 55-storey luxury tower was designed by the acclaimed architects of Woods Bagot, which has a total of 17 studios in different locations including Australia, Asia, Middle East, Europe and North America. It won the design competition launched by the Parramatta City Council for the project.
The residential tower will accommodate 300 residents and is expected to be completed by the end of the decade. It will feature excellent amenities that will set it apart from all the other high-rise residential buildings in Parramatta. The residential tower will highlight several impeccable amenities. A boutique QT Hotel accommodation will be featured on the building’s lower levels and a signature QT bar & grill restaurant will be accessible to both residents and the public. The other facilities include several event halls, Spa Q, a 200-seater ballroom center, and an alfresco infinity pool located on the 18th floor. The architecture’s masterpiece is the rooftop bar called Studio 54 and it can accommodate up to 600 guests. Apart from its opulent service, the customers in the bar will enjoy a magnificent view of Sydney’s busy central business district.
Meanwhile, Joseph Nahas ushered Coronation Property to the successful sales for the first stage of 8 Phillip Street. Even before the launch day, the Australian development company already received 200 expressions of interest. The unexpected support from the locals resulted to more than $110 million worth of sales in the first few hours. The first stage was sold out instantly and buyers also looked into purchasing stage two of the luxury tower at a remarkably faster rate. The price of the remaining apartments that are up for grabs starts at $459,000.
Joe Nahas emphasized that the price for one, two and three bedroom configurations, as well as studio and penthouse options in 8 Phillip Street, was a unique offering for Parramatta locals.In terms of the building’s facilities, the residents of the tower will enjoy a hotel-like accommodation. However, it will still have a touch of privacy. Joseph Nahas added that the creation of the residential tower comes at a perfect time since there are only a few similar developments outside Sydney’s central business district that possess modern styles and lifestyle offering. The tower’s establishment gives Parramatta locals with easy access to impressive boutique hotel facilities.
Coronation Property Sales Director Jason Soulos said the local community started to show a strong response even before the sales launch. It attracted and continued to draw interested clients who were currently living or working in the suburb. One of the highlights besides the tower itself was the excellent landscape design created by Jamie Durie. The celebrity gardener and project partner plan to incorporate a floating forest and trapeze garden.
One particular purchase that took the spotlight was the one made by a local businessman, Bob Reiman. He paid a record $3 million for a split-level penthouse in the luxury tower. When asked, Reiman admitted that the high-quality finishes and the design of the apartment impressed him. He saw it as a good investment given its location and the tower’s unique offerings despite the soaring real estate prices in Sydney. As soon as he made that realization, he changed his mind from initially wanting to purchase a standard 3-bedroom apartment to acquiring one of the tower’s superior units. Apart from that, Reiman also purchased a studio apartment.
Soulus also added that the robust sales for the building’s first stage were unexpected. They saw a clear picture of the local community’s response when they launched the project gallery in recent weeks. Coronation Property expects more buyers to express their interest in making a purchase as more people check out the project gallery and display apartment on the level one at 8 Phillip Street, Parramatta.