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Crows Nest's First Sky-Rise Apartments

Tuesday, 28th June 2011

A soaring residential tower with a lush sky-high park will become the eye-catching new gateway to Crows Nest, which already enjoys an inner-city vibe unmatched by any other North Shore suburb.

Panorama will contain 209 apartments in a three-building development at 200-220 Pacific Highway. The bulk of apartments will be in a 17-level tower (Panorama Residences), which will be the tallest residential building in Crows Nest.
 
A seven-level building on the southern edge of the site (Panorama House) will contain 21 apartments, while a five-level building fronting Pacific Highway (Panorama Apartments) will have 30 units, built above one level of retail.
 
The tower building will dramatically signal the southern entry to Crows Nest – so named because of it naturally elevated position. Apartments in the upper 12-floors of the tower will have spectacular multi-directional views.
 
“These views stretch 360-degrees and are breathtaking,” says Tim Rees of CBRE Residential Projects.

“Best of all is that they can never be built out because Panorama retains the height of an existing structure.”
 
Panorama is a replacement for the Spectrum buildings, which were completed in 1974 and contained a mix of retail and commercial space and hotel accommodation.
 
“The existing buildings will be largely demolished,” said Greg Shand, Managing Director of Barana Group which is developing Panorama.

“In some cases the concrete frame will be retained, but overall this will be a new development and finished to a very high standard that is appropriate for Panorama’s unique location.”
 
Work is scheduled to start in September and be completed within two years.
 
Prices at Panorama range from $425,000 for a one-bedroom apartment, and from $825,000 for a two bedroom apartment. Each apartment has ample storage space, reverse-cycle ducted air conditioning and the latest in NBN-ready broadband connections. Most include a study large enough to double as a guest bedroom, and come with secure basement car, scooter and bike bays.
 
Panorama is the first truly high-rise residential building in Crows Nest, and architects JPRA have capitalised on the outstanding views by sheathing most apartments in floor-to-ceiling glass.
 
Living spaces flow directly onto open terraces or sheltered wintergardens, providing alfresco living options year-round.
 
The interiors, by SJB, can best be described as ‘pared down luxury’, with beautiful timbers, natural stone and textural terrazzo. Mindful of the urban context, the muted interiors let the views make their statement while allowing residents to infuse their own personality on the space.
 
Panorama’s chic kitchens feature quality European appliances and stone or marble benchtops. Crafted integrated joinery is cleverly sculpted into the wall, creating a space that’s a natural part of the room rather than a built-on afterthought.
 
Panorama is a development with a genuine social agenda which was well supported by Professor Peter Webber, chairman of the North Sydney Design Excellence Panel, and his team. JPRA has conceived Panorama as a ‘community’ of three buildings, each with its own foyer opening onto an intimate urban lane at ground level.
 
“The laneway will have comfortable seating and facilities such as a privately run fitness centre, a coffee shop and other retail outlets to provide a genuine urban ambiance and a meeting place for residents,” said Dennis Rabinowitz, a director of JPRA.
 
“We have attempted to give residents every opportunity to foster a community with foyers more akin to comfortable club rooms which can be personalised. They’ll have fireplaces, lounges and library shelves. Even the naturally day-lit corridors of the tower building, which provide views to the city, are like pleasant private streets where neighbors will get to know one another.”
 
Panorama’s rooftop garden is a further praiseworthy urban initiative. It allows residents to grow their own herbs – the legal variety, of course – and vegetables in the eco-gardens, or chill out in the breakout spaces while enjoying the spectacular sky-high views. Serviced by a lift, this park-in-the-sky is the perfect escape without ever having to leave home . . . and will prove a prime vantage point to watch the New Year fireworks.
 
Crows Nest is already the most stimulating suburb on the North Shore, with a melting pot of restaurants, cafes, hotels and bars – a staggering 148 of them – and Willoughby Road is Sydney’s answer to Melbourne’s Lygon Street. It is also an active business centre, being within walking distance of four railway stations - Wollstonecraft, Waverton, North Sydney and St Leonards.  
 
The handy transport, dining, shopping and recreational options will ensure Panorama apartments appeal to professional singles and couples.
 
“I believe a high proportion of purchasers will be young professionals from the business hubs of North Sydney and St Leonards,” said Mr Rees. “As well as the attraction of a walk-to-work location, young professionals like living close to the action and Crows Nest provides this.”
 
Mr Rees also believes apartments in Panorama will be a sound investment as they will prove popular with both corporate tenants and medical staff from the nearby Mater Hospital, Royal North Shore Hospital, and the Northside Medical Centre.
 
“Crows Nest is one of the few suburbs in Sydney where the fundamentals for successful property investment remain strong,” Mr Rees said.

“It has a high rental base (42% compared to the Sydney-wide average of 30%), impressive long-term capital growth, and pent-up demand because no new apartments have been built here for some time.”
 
By the time Panorama is completed in late 2013, CBRE forecasts indicative weekly rents of $525 to $695 for the one-bedroom units and $875 to $1,200 for the two-bedrooms apartments.
 
The Panorama display centre at 200-220 Pacific Highway, Crows Nest will open from mid-July. Appointments can be made through Tim Rees of CBRE on 0432 390 078 or via the website: www.panoramacrowsnest.com.au

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