In a bid to transform the little-known suburb of Eastlakes in Sydney’s east, Crown Group has outlined its plans for the community in the shape of a $1 billion lifestyle precinct, dubbed The Grand Eastlakes.
To be developed in two stages on both sides of Evans Avenue, the dual-staged master-planned urban renewal project comprises 490 world-class luxury apartments designed by acclaimed tier one architecture practice, fjmt, with two retail precincts on both sides of the project.
Stage One, located on the north side of Evans Ave, comprises 133 apartments idyllic positioned above a 15-retail outlet shopping centre, anchored by a larger format 1600 sqm ALDI and a Woolworths Metro. The stage is due to open this month.
Stage Two, located on the south side of Evans Ave, consists of 357 apartments positioned above a sprawling 13,000 sqm three storey ultra-modern shopping centre, designed by Buchan Group, featuring 80 high-end and convenient retail outlets including a full line Woolworths and a contemporary, community town centre including a medical centre and public library. A new eat street will offer an array of exciting restaurant and dining options alongside apartments set across five high-rise buildings. Construction of Stage Two will commence in late 2022.
Crown Group Chair & Group CEO Iwan Sunito says the property developer aims to breathe life and energy into a tired yet brilliantly located suburb in Sydney’s highly coveted east.
“Crown Group is creating a world-class urban village and destination in its own right at Eastlakes attracting a whole new community to live, work, shop, exercise and dine with their loved ones, friends and family,” he says.
“This project will celebrate and showcase the work of architects as ‘placemakers and collaborators’ that goes beyond the design just of buildings and brings a new life and joy to a previously tired and uninviting urban setting, in much need of renewal and revitalisation.
“What it also brings is a flow-on effect of continued urban growth and renewal, more development, public infrastructure, transport, amenities and commercial activity to Eastlakes and surrounding areas.”
Crown Group took out the Concept Design category at the UDIA NSW & ACT Awards for Excellence way back in 2013 for the development. Colliers Residential Managing Director Peter Chittenden, who is tasked with the sales of Stage One at The Grand Residences, says the development is an affordable alternative to other Eastern suburbs or inner-city neighbourhoods where property seekers are priced out.
“(Eastlakes is) ideal for owner-occupiers, families or downsizers wanting all of the convenience of living above a shopping centre, this project is attracting interest from young families and first home purchasers who are currently renting in the eastern suburbs, love the east but are priced out of nearby beachside suburbs. This is the next best option,” he says.
“The project will also attract healthy rental returns, being a brand new development with all of Crown Group’s spectacularly conceived resort-style facilities such as beautiful pools and rooftop dining areas, so it certainly is attractive to investors as well.”
“The Eastlakes Shopping Centre, which is currently operating, will be unrecognisable when the entire project is completed in late 2022.”
Apartments are for sale from $740,000 for a one-bedroom apartment with car space, to $1,520,500 for a three-bedroom apartment with car space. The display centre is open by private appointment at 19a Evans Avenue, Eastlakes, with virtual appointments also available due to current COVID-19 restrictions.
For more information, visit crowngroup.com.au.