Double Bay Plaza will be transformed after Top Spring Australia snapped up the site for $94 million. This follows $70 million in off-the-plan sales at the developer’s premium project in Elizabeth Bay in just two months.
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Why we like this project
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Sydney Ma, Top Spring Australia’s managing director, says the Double Bay project will “encapsulate all the hallmarks that Top Spring Australia is known for, including new technology, art, green spaces and contemporary design”.
The apartments will be generous in size, with the largest 283 sqm, and harbour views from the second level upwards.
“Sites of this calibre are really rare, so it’s incredibly exciting to add it to our growing portfolio,” Ma says.
“We expect the residences will be of immense appeal to affluent Eastern Suburbs clientele who are wanting to live in the heart of Double Bay, with everything they need on their doorstep.”
Construction at Double Bay is expected to commence once the sale settles.
Nearby Munro House in Elizabeth Bay recently generated more than $70 million in sales in just two months.
“There’s clearly market interest in prestigious projects, despite the pandemic,” Ma adds.
Local buyers, Robbie and Robyn Dery, purchased two apartments
at Munro House – a one-bedroom and a two-bedroom – to create a four-bedroom home for their three young children.
Currently living in a freestanding, double-storey, three-bedroom home in Darlinghurst, the couple were searching for a four-bedroom residence for around six months, but couldn’t find anything suitable, when they discovered Munro House.
“Munro House was really interesting because of the amazing location, and as it is off-the-plan, we could work with the architect to turn the two fourth floor apartments into one, to configure a four-bedder,” Robbie Dery says.
“We’ll end up with larger living spaces and one more bedroom than what we have currently.”
Top Spring International is an integrated property group, headquartered in Hong Kong, that specialises in residential and commercial development, asset management, fund management and education. Top Spring Australia, a division of Top Spring International, was established in 2017.