A rare opportunity to secure a deal on brand-new, completed luxury apartments on the southern edge of Sydney’s Eastern Suburbs is now available following Crown Group’s last-ever development going-to-receiver sale.
The Grand Residences Eastlakes, comprises 133 apartments across three buildings, with 14 now available in the current release.
Move-in ready, the one, two, and three-bedroom apartments—some with additional studies and all with car parking—range in price from $745,000 to $1.675 million.
This includes two penthouses with views of the Sydney CBD skyline.
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The project is a fantastic opportunity for buyers looking to skip lengthy construction timelines.
Adam Sparkes, Associate Director of McGrath Projects, says the sale offers unprecedented prices in the “hidden gem” of the Eastern Suburbs.
“The prices on offer are discounted and truly affordable when compared to similar neighbouring suburbs,” Sparkes says.
“As we draw down on the balance of the remaining apartments, prices are likely to rise for the last few, and there is a limited chance to secure a deal before our 2025 price increase.”
The leafy Sydney suburb has been an iconic eastern residential zone for generations.
An iconic east Sydney location
A jewel in the crown of Eastlakes, The Grand Residences brings a new level of sophistication to this uniquely positioned suburb, where property prices have grown by 8.9% in the past 12 months, according to realestate.com.au data.
Located just 6km from the Sydney CBD and nestled between Kensington to the east and Botany and Alexandria to the south and west, it is surrounded by desirable school catchment areas, award-winning golf courses, and parklands.
It is also in close proximity to the Eastern Beaches and the airport.
“Eastlakes has traditionally been made up of older-style ’60s, ’70s, and ’80s apartment blocks.
“The Grand is among the first high-end developments to be delivered with amenities more in keeping with newly built residential developments in neighbouring suburbs such as Alexandria, Zetland, and Waterloo,” Sparkes says.
Two of the homes, the penthouses, feature stunning CBD views.
Enticing amenities for discerning buyers
The Grand Residences features stylish resort-style amenities, including a 25m outdoor pool, state-of-the-art gymnasium, rooftop terrace with panoramic views, landscaped gardens, a ground-floor shopping precinct, building security, and an on-site manager.
Anthony Caudullo, conjunction agent at Crown Property Group, says The Grand Residences offers fantastic value and ticks all the right boxes for different buyers.
“It’s a good entry-level point for first home buyers to get into the market, it offers investors solid returns achieving up to 4 to 5%, and it’s a convenient, low-maintenance option for downsizers,” Caudullo says.
The luxe apartments include light-filled living spaces that flow onto large balconies via floor-to-ceiling sliding doors, gourmet kitchens with SMEG appliances and ample storage, and high-end finishes throughout.
Take a tour of the homes in our gallery
Additional peace of mind
With receivers and managers being appointed, Caudullo says the sale offers peace of mind to purchasers and ensures the property’s title and inclusions are clear of any financial encumbrances at completion.
“The receivers have been given additional powers to obtain and provide credit to facilitate and carry out the ongoing operations of Crown Group, including to fund rectification works for the project if necessary,” he says.
In addition to the six-year statutory warranty, each buyer will be provided with an extended defects warranty for the apartment on completion of the sale contract, expiring on 30 June 2025.
Owner occupiers and investors alike have been captivated by this opportunity.
“It’s a significantly longer period than the standard 90-day defects warranty period typically offered by developers for new residential apartments under the sale contract,” Caudullo says.
“If a purchaser buys at The Grand, they would be securing Crown Group’s last development with peace of mind knowing that any issues relating to the building’s construction will be honoured.”
Several furnished display apartments are available for immediate viewing.
