Crown calls in Knight Frank to market One Queensbridge
James Packer’s Crown Resorts and Schiavello have appointed property consultants Knight Frank to market the One Queensbridge apartment project in Melbourne’s CBD.
The super-prime residential tower — compared to luxury living in the likes of London and New York by the agent — is still subject to approval from the Victorian government and Melbourne City Council.
Crown Resorts’ proposal could see Melbourne’s prime residential offerings — which have garnered the attention of offshore investors — challenge Sydney’s dominance in the market.
Knight Frank’s Prime Global Cities Index in April found Melbourne had overtaken Sydney, with prices increasing 11% for top-tier properties during the second quarter of the year and the city ranking fifth globally.
Crown Resorts executive vice-president for strategy and development, Todd Nisbet, says One Queensbridge will be “the perfect amalgam of residence and permanent holiday”.
“Knight Frank is unique in understanding this kind of offering, which has never really been seen before in Australia,” he says.
Knight Frank’s global head of residential, Lord Andrew Hay, says One Queensbridge will “place Australia in the global arena for luxury residential property offerings”.
It will certainly be the first super prime development of its kind in Melbourne and the first in Australia to incorporate a six-star hotel
“One Queensbridge will be placed among the world’s best, alongside London’s One Hyde Park and New York’s One57,” he says.
Knight Frank’s One Queensbridge sales and marketing director Erin van Tuil says the development was “extremely exciting”.
“It will certainly be the first super prime development of its kind in Melbourne and the first in Australia to incorporate a six-star hotel,” she says.
Crown and Knight Frank expect a good mix of offshore investors and local buyers looking to downsize and move closer to the city.
“This is the sort of property that will definitely attract those couples whose children have left home and they want better access to the amenities and entertainment available in Southbank,” van Tuil says.
This article originally appeared on www.theaustralian.com.au/property.