Iris Capital kick off final stages of $1 billion East End Village, Newcastle development
Iris Capital, headed by developer and rich lister Sam Arnaout, is gearing up to launch the third and fourth stages of their multi-award winning $1 billion East End Village project in Newcastle.
The first two stages of East End Village have sold out, with construction of the second stage approaching completion of what will become the city's biggest rejuvenation project.
Urban Activation will oversee the marketing and sales of the $450 million final stages of East End Village.
Urban Activation Director Matt George says the final two stages will include some of the most exclusive residential offerings in the entire development.
“Stage three and four represent the final release of East End Village and will feature the most luxurious penthouses yet,” George said.
“The open floorplans unfold onto a private balcony towards one of Newcastle’s many sights including the harbour foreshore, ocean horizon, or verdant hilltop grounds of Christ Church Cathedral."
On the wider development, George says East End Village has been one of the most significant urban renewal developments ever undertaken in Newcastle, delivering a step change for the city and leveraging off the massive infrastructure spending program that has revitalised the inner city in recent years.
“East End Village is among the latest catalysts to the ongoing revitalisation of Hunter Street and the Newcastle CBD, and this is having a knock-on effect to the entire region," George says, adding that he believes the Hunter Valley is currently one of the hottest property markets in Australia."
Once complete, East End Village will create a vibrant urban precinct across four city blocks in Newcastle’s inner-city area.
Local downsizers and upsizers who want to live in the transformed CBD have shown the most interest in East End. George expects this trend to continue in the final two stages.
The development, set across five buildings incorporating original heritage architecture, will deliver a blend of residential, retail, entertainment and dining to the city’s heart.
The completed first stage includes the historic Fabric House, Washington House, and Perkins & King buildings which have been transformed into a retail and multi-residential precinct that is centred on the open space of Lyrique Lane.
With interiors designed by SJB, the apartments have been designed to transcend the typical standards of apartment living, while also embracing coastal views.
One-bedroom residences are priced from $750,000 whilst two-bedroom offerings are priced from $1,150,000 and three-bedrooms are priced from $2,750,000.
Following a design competition, the final stages of the project will be designed in collaboration between architects SJB, DBJ and Curious Practice, with the release set to include the most luxurious penthouses yet.