A Sydney property developer has set a new sales record as hundreds of buyers rush to secure apartments at its Waterloo project.
Australian property developer Crown Group on Saturday sold more than $300 million worth of apartments at the launch of its highly-anticipated residential development to be built at 18 O’Dea Avenue Waterloo, Waterfall by Crown Group.

Buyers flocked to the company’s Market Street head office from 6.30am snapping up $120 million worth of apartments in the first hour after sales began at 8am, topping the previous one-hour record of $100 million at the launch of Infinity by Crown Group in 2015.

By close of business, sales had reached $300 million globally with apartments sold in Sydney, Jakarta, Hong Kong and Singapore; the majority sold to buyers in Sydney.

Three penthouses worth $12 million in total were sold in Sydney in the first 15 minutes.

Crown Group made the decision to release additional apartments worth $100 million originally allocated for a later release, after the initial $200-million allocation of apartments were sold.

Crown Group Chairman and Group Chief Executive Iwan Sunito said sales on Saturday reflected the building’s extraordinary design and exceptional location.

“We saw more people come to the launch on Saturday than we ever anticipated, many of whom were past purchasers of Crown Group apartments,” Mr Sunito said.

“We sold more than $300 million globally in one day and $120 million in the first hour, which was a faster sales rate in the first hour than at the launch Infinity by Crown Group,” he said.

The combination of Waterfall by Crown Group’s architectural design, residents’ facilities and premium location represented a unique opportunity in Sydney, Mr Sunito said.

“This is evidence of the strong demand for high-quality apartments in the right location; and a testament to Crown Group’s reputation for delivering iconic developments in Sydney,” Mr. Sunito said.

“This development harnesses the power of nature and has struck a chord with Sydneysiders eager to secure a home close to the city.

“After months of planning and hard work it was immensely satisfying to see so many happy buyers leave here on Saturday; proud to own their own piece of Waterfall by Crown Group,” Mr Sunito added.

Designed by award-winning Sydney-based architects SJB, Waterfall by Crown Group will comprise three seven-storey buildings and an iconic 20-storey tower overlooking lush, tropical landscaping and a beautiful water garden.
A seven-storey waterfall is a focal point; set to become Australia’s tallest man-made waterfall.
Public art by Mika Utzon Popov, grandson of Sydney Opera House architect Jørn Utzon, in the form of a large-scale artwork is integrated in the design.

Residents’ amenities will include an Infinity rooftop pool with a sky garden and terrace, a recreational deck, a secluded bamboo-covered walkway, state-of-the-art cantilevered gym, a rooftop garden, a rooftop cinema, function room with a catering kitchen and music room with grand piano.

Waterfall by Crown Group includes 331 apartments ranging from studios, one, two and three-bedroom apartments to courtyard apartments and double-storey penthouses.

Apartments were priced from $650 000.

Waterfall by Crown Group Project Director Prisca Edwards said buyers on Saturday were a mix of investors and owner-occupiers.

An early indication of the popularity of the project, more than 2000 people attended the unveiling of the development’s design at Royal Hall of Industries in Sydney in May.

“We saw more than 500 people line up outside our Market Street office on Saturday, some of whom had missed out on an apartment two years ago at the launch of Infinity by Crown Group and were determined not to miss out this time,” Mrs Edwards said.

“Saturday’s result was a testament to the building’s design and interiors but also our sales and client service.

“After months of waiting it was great to see so many buyers finally secure an apartment on Saturday,” she added.

In addition to its residential apartments ranging from studios, one, two and three-bedroom apartments to courtyard apartments and double-storey penthouses; the $400-million mixed-use development will be home to six retail outlets. All apartments will be fitted with world-renowned Miele appliances.

Construction of Waterfall by Crown Group is scheduled for completion in 2020.

Crown Group plans to begin accepting expressions of interest for its next residential development later this year.