Luxury Investment Index - Objects of Desire Australian Special Edition 2019 - Knight Frank
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Objects of Desire
Australian Special Edition
Luxury
knightfrank.com/research
Investment Index
2019
LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
THE KNIGHT FRANK LUXURY
INVESTMENT INDEX
4
KFLII tracks the capital value of a theoretical
basket of selected collectable asset classes
using existing third-party indices provided by
leading independent experts (see below). Each
asset class is weighted to reflect its relative
RESEARCH:
importance and value within the basket. The THE KNIGHT
index does not take into account dealing, FRANK LUXURY
INVESTMENT INDEX
storage or other associated ownership costs.
6
Data provided by: Art Market Research (art, jewellery,
WELCOME
watches, stamps, coins and furniture), Fancy Color
Research Foundation (coloured diamonds), HAGI
(classic cars), Wine Owners and Rare Whisky 101.
Please contact andrew.shirley@knightfrank.com
for more information.
SPECIAL REPORT:
INVESTMENTS OF
Editor – Andrew Shirley PASSION
IN AUSTRALIA
andrew.shirley@knightfrank.com
To this special edition of the
Media enquiries – Philippa Giles Knight Frank Luxury Investment Index
philippa.giles@au.knightfrank.com
10
Design – Quiddity
roduced especially for Knight at One Barangaroo exemplify the new a commercial property investment, please
P
quidditymedia.com
Frank Australia’s inaugural levels of style and service that are do get in touch. My colleagues in Australia
Front cover: 7.5ct oval diamond ring by Objects of Desire event, the available to homeowners. and around the world would love to hear
Fairfax & Roberts report provides a fascinating insight into If we can help you to find your ultimate from you.
INTERVIEW: SARAH the performance of luxury collectables, trophy asset, whether it’s a dream home or I hope you enjoy reading the report.
ORFANOS VANT, many of which are now increasingly seen
© Knight Frank LLP 2019
This report is published for general information only and FAIRFAX & ROBERTS
not to be relied upon in any way. Although high standards
as investments in their own right. Our
have been used in the preparation of the information, research, however, shows that when it
analysis, views and projections presented in this report,
no responsibility or liability whatsoever can be accepted comes to these so-called investments
by Knight Frank LLP for any loss or damage resultant
12
from any use of, reliance on or reference to the contents of passion, it is the passion – whether
of this document. As a general report, this material does
that be the spine-tingling roar from the
not necessarily represent the view of Knight Frank LLP in
relation to particular properties or projects. Reproduction engine of a classic car or the emotions
of this report in whole or in part is not allowed without
prior written approval of Knight Frank LLP to the form generated by a thought-provoking piece of
and content within which it appears. Knight Frank LLP is
a limited liability partnership registered in England with art – that is still the prime motive driving
registered number OC305934. Our registered office is
collectors. Australia is no exception and
55 Baker Street, London, W1U 8AN, where you may look DEVELOPMENT FOCUS:
at a list of members’ names. over the following pages we celebrate the
CROWN RESIDENCES,
ONE BARANGAROO best the country has to offer, whether it’s
OT H E R MARKE T- LE A DI N G KN I GH T fine wine, dazzling jewellery, exceptional
FRANK P UBLICATIO N S furniture or stunning art.
Of course, though, as the world’s
The global perspective on prime property and investment
largest independently owned real estate
business, we at Knight Frank would
argue that property is still the ultimate
investment of passion. The rise in luxury
residential property prices in Sydney
and other parts of Australia over the
past decade backs this up, and new
The Wealth Report 2019 International View 2019 developments such as Crown Residences ANDREW SHIRLEY HEAD OF LUXURY RESEARCH, KNIGHT FRANK
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LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
WHISKY GALORE Hatlapa. A Nicki Lauder-driven 312T Ferrari
fetched US$6 million at Monterey.
“Art inspired by street culture is just as
alluring to many younger collectors as works
by blue chip and established artists were for
Art boom
their parents. The Kaws Album by American
By contrast, art managed double-digit graffiti-turned-acrylic artist KAWS was the
growth with the Art Market Research (AMR) subject of fierce bidding at Sotheby’s April
World Index, which tracks global auction auction NIGOLDENYE in Hong Kong. When
results, growing by 10%. AMR’s Veronika the work was finally sold for US$14.7 million,
Lukasova-Duthy says multiple sectors of the figure more than quadrupled the artist’s
Andrew Shirley, Head of Luxury Research at Knight Frank, shares the latest the market helped drive the index up. previous record.”
findings from our Luxury Investment Index (KFLII) “The 2019 art market got off to a
Burgundy
cracking start in New York when a painting
by Elisabeth-Louise Vigée Le Brun sold With growth of 9% to the end of the second
for US$7.2 million at Sotheby’s Old quarter fine wine was just behind art in
Masters. The price paid for the portrait terms of performance. “Fine wine Red
of Muhammad Dervish Khan, Indian Burgundies led the charge, and were also
Ambassador to France, was a record responsible for the biggest fallers,” says Nick
not just for the artist but also for women Martin of Wine Owners, which compiles the
Old Masters. Knight Frank Fine Wine Icons Index for us.
“Last year, David Hockney’s canvas “This reflects the volatility of blue
Portrait of an Artist broke the record for a chip producers such as Rousseau and C
hisky surged straight to the top Supercars However, the most desirable cars are
W
living artist when it sold for US$90 million Domaine de la Romanée Conti as they reach
of KFLII when we introduced it still fetching big money. A McLaren F1 C
Dietrich Hatlapa of HAGI, which provides at Christie’s in New York. The record vertiginous heights,” he explains. “In fact
to the index at the end of 2018 “LM” spec supercar was the top seller at
our classic car data, says the dip is down to didn’t last long, however, as a private if you look at the specialist Wine Owners
to reflect the growing interest from UHNWI the recent benchmark Monterey sales in Rabbit by Jeff Koons. Sold for around US$91m by Christie’s
speculative investors leaving the market collector paid US$91 million for Jeff Koons’s Burgundy 80 Index, it has fallen 10% off its
collectors, particularly in China and the California fetching almost US$20 million –
to genuine enthusiasts who are more gleaming stainless-steel Rabbit at Christie’s peak earlier this year, but is still up 191%
wider Asia-Pacific region. a marque record. The market for Formula
circumspect about paying over the odds Postwar and Contemporary sale in May. over the past 10 years.”
Since then, market growth – as 1 cars is also hot right now, points out Mr
for vehicles.
measured by the Knight Frank Rare Whisky
100 Index, compiled for us by the experts at The Knight Frank Luxury Investment Index (KFLII) performance by asset class (to Q2 2019*)
Rare Whisky 101 – has moderated slightly,
but prices still rose by 23% during the 12
months to the end of June, far ahead of any
10 YEARS
of the other asset classes in the index.
Andy Simpson of Rare Whisky 101 says a
steep downturn in prices for The Macallan
– a mainstay of the investment market Watches Stamps Jewellery Coloured Wine Art KFLII Cars Coins Rare whisky
Furniture
by both volume and value – coupled with -30% 63% 64% 100% diamonds 142% 146% 146% 190% 193% 540%
plenty of supply, was one of the main
105%
reasons the index stuttered, but he
predicts values will rise again during the
rest of 2019.
“Things have since picked up 12 MONTHS
significantly, so we’re expecting a wholly
better set of results at the year end.”
Elsewhere in the KFLII, we have seen Coloured Furniture Watches KFLII Stamps Wine Art Coins Rare whisky
a mixed picture among some of the more Jewellery Cars diamonds 1% 2% 4% 6% 9% 10% 12% 23%
mainstream asset classes. Growth in the -7% -5% 0%
classic car market, for example, has slipped
Source: Compiled by Knight Frank Research using data provided by Art Market Research (art, coins, furniture, jewellery, stamps and watches), Fancy Color Research Foundation (coloured diamonds),
into reverse gear, but investment-grade HAGI (cars), Rare Whisky 101 and Wine Owners. *All data to Q2 2019 except stamps and coins (Q4 2018)
A 1994 McLaren F1 “LM spec” sold at the Monterey auctions by RM Sotheby’s for US$19.8m.
wine and art have both performed strongly. IMAGE COURTESY RM SOTHEBY’S
Colour
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Colour
LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
PASSION PLAY Pacific region – a bottle of 60-year-old
Macallan made the equivalent of almost
AU$1.5 million when it was auctioned
in Hong Kong last year – demand is also
increasing sharply in Australia, says
Maighdlin Gold, brand ambassador for
The Glenlivet.
“Scotch Whisky is hugely popular in
Australia – it is the largest spirits category
Andrew Shirley curates a special focus looking at the latest trends shaping the in the country with 23% of overall value
luxury investment landscape in Australia share. And while blended whisky still
dominates, accounting for 83% of the
overall value share, single malts are
driving the growth with volumes almost
doubling over the past three years.
“The Glenlivet is the second most
hen it comes to investments over AU$1 million by Sotheby’s Australia much more mixed picture,” explains AMR’s
W
sought after single malt in the country,
of passion in Australia, art in April, more than doubling the artist’s Sebastian Duthy. “Average values are
and with the return of The Glenlivet 12
is the most collected asset previous record. now half their peak in 2012 after changes
year-old, the demand is growing. We
class, according to our research. It is also “Over the past several years, it has in Australian government regulations,
are also experiencing growth in rare
currently setting the pace in terms of price been immensely pleasing to see the artists including artist resale rights and pension
and limited whiskies with higher age
growth if recent auction sales are anything we champion receive the recognition fund rules, had a negative impact on prices.
statements as well as a demand for locally
to go by. they deserve, with commercial results “But as this year’s auction results
distilled craft batched whiskies.”
At its Important Australian Art sale in increasingly reflecting the depth of artistic suggest prices are showing recovery at the
Younger aficionados are also helping
August, Sotheby’s Australia hammered merit Australia has to offer,” says Geoffrey top end of the market. The average value
to drive innovation in the industry,
works worth in total over AU$12 million, Smith, Chairman of Sotheby’s Australia. of the index is up 95% from 2015, which
observes Ms Gold. “We are seeing more
a record sum. Records were achieved for “Indeed, we are seeing stronger was the lowest point since 2007,” points
young people than ever delving into
three artists: William Dobell, Peter Booth engagement from our clients than ever out Mr Duthy.
whisky, and rejecting that common
and Cressida Campbell. and our results are reflecting this demand Interest in Australian art, however,
misconception that whisky is an old
The top seller was Mountain Creek, – with record prices being achieved is not restricted to works being snapped
man’s drink for a cold night.
Mount Kosciusko by Fred Williams. regularly for both long established and up by private collectors, explains Owen
“When we look at where younger
Estimated to make between AU$800,000 contemporary artists,” he adds. Craven, Senior Curator at UAP – a global
consumers are experiencing whisky,
and AU$1.2 million, the oil on canvas work However, while prices have risen public art and design firm.
that’s where we see the key differences
eventually sold for AU$1.7 million. strongly, a detailed analysis by Art Market “Australian art is so exciting right now.
emerging. The experimentation that’s
Earlier in the year, Seafood Paella also Research (AMR) shows the market is still With the advent of the art fair over the past
happening in Australia’s bar scene is
set a record for John Olsen, often referred some way from its peak. decade, our galleries and artists have been
phenomenal, and it’s changing the way
to as Australia’s greatest living artist. “An index of 14 of the best performing afforded exposure to the global market and
young people are consuming whisky and,
The six-metre oil panel was sold for just Australian 20th Century artists reveals a this has pushed artists’ boundaries into the
by proxy, it’s changing their tastes.”
global context.
For aspiring Scotch investors Ms Gold
“It’s hard to pinpoint any one artist but
suggests combining rarity with age is a
Lindy Lee is an artist whose practice is
Most collected luxury assets by Australian UHNWIs great starting point.
gaining global recognition. We are proud
“Scotland has around forty ‘ghost
1. 2. 3. 4. 5. to be delivering public commissions with
distilleries’. These are distilleries that
her in cities around the globe including
have closed their doors, but whose
Shanghai and New York.”
casks of whisky continue to age. For
Raise a glass instance, Caperdonich is no longer
producing spirit, meaning their stocks
While it is whisky collectors based in
Art Wine Classic cars Watches Jewellery are dwindling. Every time a bottle is
Singapore, China and Hong Kong who are
opened, the remaining bottles become
Source: The Knight Frank Wealth Report Attitudes Survey 2019 really setting the pace when it comes to
Mountain Creek, Mount Kosciusko by Fred Williams Image courtesy of Sotheby’s Australia significantly rarer.
the very top of the market in the Asia- © ESTATE OF FRED WILLIAMS/COPYRIGHT AGENCY, 2019
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LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
“The Glenlivet released The Winchester
Collection, which is comprised of three
PAINTING BY NUMBERS
single malts that have been resting in our
LUXURY DATA INSIGHT
cellars for fifty years. The 1964 edition
was laid down by Captain William Smith
Most valuable Australian artists by highest priced individual work
Grant, the last distilling descendant of
The Glenlivet’s founder. It is an extremely
SIR ARTHUR limited release, with only one hundred
ERNEST
FRED WILLIAMS
You Yangs
STREETON bottles available and it provides an
JOHN CECIL Landscape 1, 1963
Sydney Harbour,
BRACK 1907
SIDNEY NOLAN The Old Time, 1969
AU$2,287,500
AU$2,074,000 incredible tangible link to the distillery’s
Sold Jun-13
First-Class Marksman, 1946 AU$3,360,000 Sold Aug-16
AU$5,400,000 Sold May-07 rich history.”
Sold Mar-10
Rarity could also boost the demand for
ARTHUR MERRIC
BLOOMFIELD a “home-grown” Australian investment
BOYD
EMILY KAME
KNGWARREYE
Drowned of passion. The imminent closure of
Bridegroom (1959)
Earth’s Creation I, 1994
AU$1,952,000
AU$2,100,000
Aug-2018 the Argyle mine in Western Australia,
Sold Nov-17
CLIFFORD POSSUM which produces many of the world’s
TJAPALTJARRI
BRETT WHITELEY Warlugulong, 1977 SIR WILLIAM pink diamonds, may help support price
My Armchair, 1976 AU$2,400,000 CHARLES BLACKMAN DOBELL
AU$3,927,272 Sold Jul-07
Sold Oct-13
Mad Hatter’s Tea Party,
1956
The Dead Landlord,
1936
growth. Pink diamonds already outperform
AU$1,891,000 AU$1,220,000
Sold Nov-17 Sold Aug-19 blue and yellow stones, according to the
Fancy Color Research Foundation, which
Source: Art Market Research *By most expensive work, sale price includes buyer’s premium
provides data for the Knight Frank Luxury
Investment Index.
10-year price change of
coloured diamonds Fine Wine
While Australian craft malt whisky Bespoke bench by Scott van Tuil
320% production has cranked up in response to
205% the surge in demand – in 2014 there were Basket Press Shiraz, Mount Mary Quintet, AU$120 a bottle, which is kind of average the provenance of an object or piece of
144% nine distilleries on Tasmania, now there Henschke Hill of Grace, Penfolds Bins 95 for an Aussie Pinot – but we only get a furniture has become highly valuable,”
are 32 – and is winning awards around and 707 and Giaconda’s and Leuuwin’s Art handful of bottles each year. And they’re says Tasmania-based craftsman Scott
the world, the country’s most famous Series Chardonnays,” he adds. phenomenal. It’s hopefully an emerging van Tuil.
Y E L LOW BLUE PINK
home-produced alcoholic beverage is still One man who certainly knows more iconic region, producer and style.” “I have noticed an interest and
Source: Fancy Color Research Foundation
wine. And values for the best bottles are than most about Australian wine is Chris Although Mr Crawford has noted more excitement in clients having the
powering ahead. Crawford, who oversees the beverage people are looking to invest in wine, opportunity to feel involved in the design
Performance of luxury investments Average price at auction* for strategy for Crown Resorts – involving drinking it should still be the primary and making process, and therefore feeling
versus prime property Australian 20th Century artists
uu almost 425,000 bottles – and has been in concern, he believes. “My philosophy is a greater personal connection to what has
Knight Frank Luxury Investment Index 100 the wine industry for 30 years. great things should be opened and enjoyed. been made just for them.”
Sydney prime residential
My philosophy is great
“Australia is making some absolutely You’ve got to have things that you can put Just as Australia’s flora and fauna
Melbourne prime residential things should be opened
sensational wines at the moment. I drink away and keep, and things you can access inspired the first pieces of jewellery
80
and enjoyed
a lot of Australian wines at home – I also all the time because what’s the point of crafted in the country (see interview
250
uu drink a lot of European when my wallet having things that are nice to look at but on page 10), its natural landscapes are
60
200 can afford it – but now’s a really hot time you can’t touch? So, it’s a bit of a balance.” still inspiring artisans like Mr van Tuil.
Index 100 = Q2 2019
for wine produced here and there are some “Our aim is to create objects that are
40 Bespoke
150 “Penfolds Grange Bin 95 has entered things that I’d recommend that people may beautiful in form and function, and have
the Knight Frank Fine Wine Icons leader never even have heard of. A growing trend in the world of luxury is a thoughtful connection with where they
20
100
board with growth of 25% over the last 12 “For instance, Chatto Pinot Noir from the desire to own something unique, and have come from.”
months,” says Nick Martin of Wine Owners, Tasmania. Jim Chatto was chief winemaker one sector that really reflects and rewards He also firmly believes that an
50 0 which compiles the index for us. at McWilliams and he consults there this desire is bespoke furniture. investment in a luxury collectable isn’t
2018
2014
2016
2019
2015
2013
2012
2017
“The Wine Owners Australian 70 index now, but Chatto is his own little one- “There has been a resurgence of purely financial. “They are investments
2019
2018
2009
2010
2012
2013
2014
2015
2016
2011
2017
is a star performer up 21% over the last 12 hectare block in the Huon Valley that just interest in the bespoke and handmade. in joy and quality that will endure, and
Source: Art Market Research
Source: Knight Frank Research *Calculated in AU$, central 80% of sales months and by almost 13% since the start does pinot. They’re not extraordinarily In a world awash with globalised, mass be enjoyed for many years to come by
of 2019. Top performers include Rockwood expensive – on a wine list they’d be about produced product, the ability to know multiple generations.”
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LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
A SPARKLING SUCCESS surrounded by fauna to create mementoes
of the time.
The turn of the century brought with
it many changes – significantly, Australia
became a nation in 1901, sparking
newfound patriotism and a wave of
jewellery to accompany it. Brooches that
showcased the country’s native flora and
Sarah Orfanos Vant, Director of Brand and Partnerships at jeweller fauna were once again hugely popular and
Fairfax & Roberts, explains how jewellery trends continue to reflect Australia’s everything from kookaburras to kangaroos
development as a nation and crocodiles featured in these simple
pieces that were popular with the masses.
As the sound of the cannons of World
War I faded, it was replaced with the fizz
and bubble of the Jazz Age. Work had
Fairfax & Roberts is Australia’s mosaic. Gentleman’s jewellery consisted
begun on the Harbour Bridge and Sydney
oldest jewellery house. How did of ornate breast pins, studs and gold watch
had a bold style of its own. Post-war
it all begin? chains, which signified status and style
enthusiasm invigorated the fashion and
within a conservative period.
Richard Lamb, who had emigrated from jewellery world, and it was in these golden
The discovery of gold in the 1850s
London to Sydney in 1836 and established inter-war years that Art Deco was born.
brought a gold rush to New South Wales
himself as a jeweller and optician was With fashion becoming simpler and more
and Victoria, and with it Australia’s
joined by Alfred Fairfax – of the Fairfax linear, jewellery was changing too, with
prosperity and population grew. Along
publishing family – to create Sydney’s first streamlined, geometric shapes – squares, Coloured stones are becoming more popular for engagement rings
with a new wave of immigration came
emporium for fine silver and watchmaking triangles and chevrons – becoming
new styles of jewellery. Australia’s gold
at 394 George St – already the bustling increasingly popular. A lot is also made of the changing that we can reimagine and redesign to
rush attracted fortune seekers from
artery of the growing city. When Fairfax attitudes of younger generations, create a piece of jewellery that will create
around the world, a number of whom were
& Roberts first opened its doors in 1858, a Tastes and fashion are always in particular the so-called another chapter in their family’s history.
jewellers. At a time when photography
journey of luxury bespoke jewellery began. fluid, but are there any trends Millennials. Is this something Reflecting changing social attitudes,
did not yet exist, souvenir jewellery that
One of our early achievements in 1873 you are seeing now? And are you’ve experienced at Fairfax & we also celebrated the legalisation of same
literally depicted life, and success, on the
was the design and production of the iconic there some things that never go Roberts, and, if so, how has that sex marriage by launching our very own
goldfields was very popular. Brooches
tower time piece that still marks Sydney’s out of fashion? been reflected in your jewellery? Equality range of men’s and women’s
often featured mining equipment
Central Station. Over our 160-year history, engagement and wedding rings.
Definitely coloured gemstones – especially Sustainability is becoming a big issue
we have crafted treasured possessions
in engagement rings brought about by now and it is very important to us – we
and heirlooms for princes, governors and Of all the pieces created by
recent high profile celebrity and royal only select the world’s finest, ethically
many of Australia’s finest families, and we Fairfax & Roberts over the
weddings. One thing that never goes produced stones. As a responsible jeweller,
are proud to say that many of our earliest years, which is the one you
out of fashion is the desire for bespoke, we have strict standards when it comes to
pieces are still in use today. most admire?
handmade pieces specifically crafted with sourcing our rare and precious gems.
that one person in mind that can be passed We purchase only from suppliers For me it would have to be The Starlet
Your history has run pretty much
down through the generations. who rigorously enforce labour and pendant – an intense pink 20 carat rubellite
in tandem with the creation
environmental standards and we actively cabochon bezel set and surrounded by
of modern Australia. Have the Australia has always been a
seek improvements in the diamond round brilliant cut diamonds and hand
country’s milestones been cultural melting pot, but with
industry to encourage ethical sourcing. cut onyx elements with fine rose gold
reflected in your jewellery? the huge rise in wealth across
We are Australia’s only member of the detail. The pendant is completed with
the Asia-Pacific region it is more
While the jewellery of the time was much Diamond Development Initiative, which an articulate pavé set diamond clip
international than ever. How has
influenced by European styles, Australian is an international group that’s working to enhancer bail and can be attached to a
that affected the types and style
jewellers such as Lamb and Fairfax made support small-scale diamond operations multitude of necklaces/chains. It reflects
of jewellery that you create?
their own mark on the craft by producing around the world. the craftsmanship, unique design, and
pieces that strongly reflected Australia’s I have to say that this hasn’t affected us. The desire for sustainability is also Art Deco aesthetic and has that magical
identity as a colony. Women’s brooches As a bespoke jeweller every single piece we reflected in the growing popularity of our wow factor that is often found in so many
often featured native flora and fauna, set make is unique and the design is influenced remodelling service, where young clients Fairfax & Roberts pieces.
with European silver, around a cameo or The Starlet pendant by the individual. bring in an heirloom or inherited piece
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LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
o you crave the luxury of fresh Harbour Bridge and Opera House as it offers uu
D flowers waiting for you when panoramic vistas of, and access to, one of
Step into interiors
you return home from your the world’s most picturesque waterscapes.
designed by New York-
latest overseas trip? Or the convenience of And now Sydney introduces Crown
based Meyer Davis Studios
fresh linens laid ready for you to rest on Residences. However, these are not just any
and immediately you are
at the end of a busy day? Perhaps it is luxury waterfront properties in Sydney;
swept off your feet
a bottle of rare wine, handpicked for this alluring waterfront property will be
your special guests, next time you are a masterpiece that not only embellishes uu
entertaining? There will be no limit to what the Sydney skyline, but is instantly
can be requested when you choose to live recognisable from any vantage point once
can enjoy, nothing quite compares to
in a Crown Residence at One Barangaroo its doors open in 2021. From ground to
its location in the world’s most enviable
in Sydney. apex, the building offers 71 storeys where
harbour city. With minimal walls to
Sydney is renowned for its relaxed 82 private residences sit atop 349 six-star
obstruct and a pure glass façade wrapping
lifestyle, boutique shops, cafes, and Crown Resorts hotel rooms.
the building, all residents will relish in
exceptional restaurants, but it is the iconic While almost any luxury development
the floor-to-ceiling windows, almost three
harbour that makes this city shine. There is will bill the incomparable views one
a certain je ne sais quoi about living in this
cosmopolitan city that so many people love
and return to. Sydney is not just about city
living though, there are beautiful beaches
and country escapes within easy reach and
then spots like Barangaroo, an urban oasis
nestled by the water.
Sydney is at its best at Barangaroo. In
cafes and restaurants buzzing with activity,
Sydney-siders enjoy alfresco dining and
superb wine bars, while experiencing
spectacular sunsets over Sydney Harbour
from its abundance of green space.
Located on the western edge of the CBD,
Something to sing about – a view from the penthouse
Barangaroo is thriving and has truly
become the destination to be in Sydney.
Waterfront premium
This year Sydney was ranked third in the
VIEW TO A THRILL
“Most Liveable Cities” index created by The
Economist Intelligence Unit and globally,
Australia is currently considered the third
most preferred destination to buy luxury
residential property. Ten years on from
the global financial crisis, Sydney’s prime
residential capital values, defined as the top
5% of the market by value, have grown by a
total 71% to June 2019.
Crown Residences at One Barangaroo will set new standards Global and local buyers are both
for Sydney harbour-front living when they open in 2021. attracted to the Sydney waterfront and
Knight Frank’s Erin van Tuil explains why in 2018, these properties generated an
average premium of 89% when compared
with similar properties located further
inland without access to the harbour.
Homeowners vie for the finest views of the Future icon – Crown Residences at One Barangaroo pierces the harbour skyline
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LUXURY INVESTMENT INDEX 2019 OBJECTS OF DESIRE AUSTRALIAN SPECIAL EDITION
metres high, giving multi-aspect views With location, views, design and your Residence, overlooking the majestic Investment potential
of the Harbour Bridge, iconic Opera
House and beyond from the moment they
certainty being everything, what is left?
Service of course.
harbour or pamper yourself in the Blainey
North-designed spa after a dip in one of the
The starting price of these apartments, Q&A
AU$9.5 million, may seem small to have
wake up, to breakfast on the open-air As Australia’s leading hospitality resort’s two infinity-edge pools.
such convenience at your fingertips. Erin van Tuil is the Knight
balcony or a private moment soaking in a provider, it seems the most natural fit that The list of first-class amenities one
Enviable positioning, world-class Frank partner in charge of
windows-edge, free-standing bathtub. Crown Resorts would step in to provide its can expect include: 24-hour residents’
amenities, award-winning service and Crown Residences. She firmly
award-winning service. concierge, valet parking, doorman, security,
Style and service international styling all drawn from the believes property really can
“We are confident that our residents will in-home dining and housekeeping with
best the world has to offer. An appreciable be an investment of passion
The captivating architectural façade, appreciate the unique offering of this iconic complete access to the resort-style facilities
investment for those who recognise the
designed by the genius WilkinsonEyre, building, brought to the market by Crown (tennis court, gym, residents’ pool, spa)
value – and benefits – of a hotel-branded
is only a taste of the lifestyle behind its Resorts, which has a 20-year track record of and then some you wouldn’t normally
residence like this, which can typically
walls. Step into interiors designed by delivering luxury hospitality in Australia,” expect like grocery stocking, dog walking,
fetch a 25-33% and as much as 132% in some
New York-based Meyer Davis Studios and says the company’s Todd Nisbet. sommelier or a private chef.
Asian cities, according to Knight Frank’s
immediately you are swept off your feet. Life at Crown Residences will be about To be a resident of Crown Residences
2019 Branded Residences Report.
The interior design emanates warmth ease and convenience, with modern is to be treated as a permanent VIP of our Tell us a bit more about yourself It probably appeals more to the
“Many of our purchasers are seeing
and entertaining is front of mind; focal amenities such as in-residence dining, hotel where the real indulgence is knowing I am responsible for the sales team younger generation though?
Crown Residences as a convenient lifestyle
living spaces destined to bring people where meals are prepared by the integrated that there is always someone looking out for and marketing strategy for the Crown Younger generations have typically
choice enabling them freedom from
together, thanks to design elements such six-star hotel or, if you feel so inclined, you. Take comfort in knowing that Residences at One Barangaroo residential spent time overseas and understand the
managing a large free-standing home
as European oak floors, ripple textured you can venture to one of the in-house, your everyday needs will be expertly project. I have worked for Knight Frank for benefits of apartment living, while for older
and the associated costs. Our purchasers
bronze glass, polished stainless steel and handpicked restaurants situated downstairs. executed here. almost 13 years based in London and Sydney generations it involves a bigger change
recognise that Crown Residences are truly
stunning veined marble slabs from the People may spend the year between and have travelled extensively across the in mind set. But at Crown Residences we
Fine dining unique, and they are confident that their
best quarries in the world. several homes around the world or travel Asia-Pacific region. have purchasers with young children right
investment will appreciate over time as an
A fortunate few will have a choice of Book your table at your favourite restaurant extensively for business or pleasure. The up to retirees. All appreciate the lifestyle
asset for the whole family to enjoy,” says Give us an example of how luxury property
two, three or four-bedroom Residences or bar when friends come over simply by joy of Crown Residences is that you can the building offers as well as the design
Mr Nisbet. and investments of passion can combine
with a single, six-bedroom duplex calling your dedicated concierge. Banish call the concierge ahead of your arrival and finishes. Timeless style and quality are
“Crown Residences are more than just Our purchasers at Crown Residences
penthouse also available. All oversized all guilt by working out in the state-of- and your linens are pressed and your attractive to all generations.
a city pad; these are homes where your certainly appreciate the finer things in life
of course. the-art gym that enjoys the same views as fridge is stocked.
children, grandchildren and friends will and art collections and furniture pieces The height doesn’t put people off?
gather to enjoy the best of times.” are often discussed around our floor The face of residential development in
Sydney’s Crown Residences at One plans – we have made changes to cater Australia is changing. With a growing
Barangaroo are already attracting the most for specific pieces of art and furniture population of UHNWIs and prime property
discerning of buyers who desire more than for our purchasers. Purchasers also tell prices rising 71% over the past decade,
just a home, they desire a residence that us they are very much looking forward to we have seen a shift from the development
returns the ultimate luxury – time. utilising the services that are on offer at of small, investor-focussed apartments
And the promise of luxury on this Crown Residences including the fabulous to homes in the sky. Crown Residences
harbour is about to be fulfilled with whisky bar and access to top sommeliers. at One Barangaroo has exchanged on
Crown Residences construction past the Entertaining guests in style and being able four transactions over AU$40 million.
halfway mark and running comfortably to offer a rare or unusual wine will never be This has never been achieved in Australia
ahead of schedule. easier with experts on hand. for apartment sales and absolutely
speaks to the quality of Crown Residences
Sounds an expensive investment
and the demand for super-prime product
Apartment living is actually now a viable
in Sydney.
alternative to owning a free-standing
uu harbour-front home in Sydney. People are Got any investment advice?
To be a resident of Crown seeing the financial benefits as well as the Invest in something that will make you
Residences is to be treated time benefits to living in a highly serviced happy. Choose quality and you can almost
as a permanent VIP apartment. The costs of running a free- guarantee the returns in the long run or,
standing home can far outweigh strata if selling isn’t your thing, you will have
uu
fees and, when you add in the services and something to hand down to your children
amenities, apartment living can offer a very and grandchildren who will also get
PLEASE CONTACT ERIN TO FIND OUT MORE:
+61 2 9036 6699
attractive lifestyle. pleasure from the Residences.
The whisky bar offers a place to relax and enjoy fine spirits ERIN.VANTUIL@AU.KNIGHTFRANK.COM
PA G E 1 4 PA G E 1 5
knightfrank.com
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