Topping out at Sydney serviced apartment project

Australia: A topping out ceremony has taken place at the Crest apartment building, part of the Sharks development in Woolooware, Sydney.

The ceremony was attended by representatives of builder Parkview and developer Capital Bluestone, which is now part of Aoyuan International.

Stage three is the last component of the Woolooware Bay Town Centre development on the western side of PointsBet Stadium (Shark Park).

It includes 238 apartments across three buildings - Links, Crest and Pier, as well as nine terrace homes, three commercial office suites and ground floor retail space. Woolooware Bay Town Centre started as a joint venture between Capital Bluestone and the Cronulla Sharks Leagues Club in 2011.

Early this year, the club agreed to sell its remaining interest to Capital Bluestone for $40 million. Following the deal, Capital Bluestone announced it had become part of global development firm Aoyuan International. Stage four of the development, on the eastern side of the football stadium, is scheduled to start towards the end of this year.

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This is all a rather new industry to me but I really enjoyed hearing about the perception of changes, particularly in the short-term rental, “end of alternative” debate. It was also exciting to see people blurring the lines with regards to serviced apartments and aparthotels in Paul Rands’ talk. My favourite part though was listening to the Brexit debate and seeing people put their views on the table.

Will Smith, Plum Guide, 2019

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