Crown Group partners with Mitsubish Jisho Residence

Australian residential property developer Crown Group announced it has formed a new strategic alliance with one of the world’s largest real estate developers, Mitsubishi Estate Group, to develop a vibrant new community in Sydney’s inner suburbs, called Mastery by Crown Group.

Located at 48 O’Dea Avenue, Waterloo, Mastery by Crown Group is a $500 million development that will be made up of five buildings offering 374 studio, one, two and three-bedroom apartments and penthouses. Sophisticated resort-style facilities will include an infinity-edge cantilevered rooftop pool, a gym and community room, as well as a ground-floor retail precinct with a mix of restaurants, cafes and shops.

Residents will have a novel new dining concept on their doorstep: Sydney’s first Japanese eat street, offering outlets styled on Tokyo’s Shibuya and Shinjuku special wards, to bustling Izakaya, as well as sushi trains, ramen restaurants and the more formal tea houses that serve Cha-kaiseki.

The highly anticipated Mastery project is designed by world-renowned Japanese architect Kengo Kuma, Japanese-born Sydney-based architect Koichi Takada and Sydney’s Silvester Fuller.

It launched to the Sydney market on 17 November 2018 and will also be promoted in Shanghai and Hong Kong (China), Jakarta and Surabaya (Indonesia), Singapore and Tokyo (Japan). Construction is underway, scheduled for completion in 2020 for four low-rise buildings and 2021 for the high-rise building.

Crown Group Chairman and Group CEO Iwan Sunito said the collaboration with Mitsubishi Estate Group’s residential arm, Mitsubishi Jisho Residence, demonstrated both parties’ great confidence in the Sydney market, particularly in well-located areas primed for growth.

“It is such an honour and privilege to partner with Mitsubishi Estate Group, one of the world’s largest and most respected real estate investors and developers,” Mr Sunito said. “This is about collaboration and also learning from such an amazing organisation.”

As part of its expansion program, Crown Group has secured prime development sites in Brisbane, Melbourne and in Los Angeles, USA. The company differentiates itself by adding serviced apartment hotels and high-end retail to its portfolio of urban residential developments.

The collaboration with Crown Group also meets Mitsubishi Estate Group’s desire to establish long lasting partnerships with like-minded business leaders, to create the best new communities around the world.

MJR Senior Managing Executive Officer Yutaro Yotsuzuka said, “We are honoured that this reliable and award-winning developer Crown Group is working with us.

“We see great opportunities in Sydney’s property market and we have a strong belief in this global high-growth market. Together, we can realise Crown Group’s monumental vision of the revitalisation of this up-and-coming architectural precinct, Waterloo, in the heart of Sydney.

“We envision a long-term and healthy business relationship with Crown Group and we both welcome creative ideas. The time is right for us to form this strategic partnership.”

Crown Group’s CEO of Global Capital and Director of Sales, Prisca Edwards said, “The success of the Mastery by Crown Group sales launch on 17 November 2018 shows the strong demand for high-quality apartments in the right location.

“We saw a true mix of both investors and owner-occupiers on launch day (17 November 2018), from first home buyers and young professionals, to downsizing couples and young families. Buyers flocked to our Market Street head office long before the doors opened at 9am in a bid to secure one of the most luxurious apartments in Waterloo.”

The new Mastery by Crown Group Display Centre is open every day from 10am to 4pm at 30-36 O’Dea Avenue, Waterloo. Premium apartments are priced from $632,000.

Sales launch events in Singapore will take place on Dec 1 and 2 2018 at 127 Devonshire Road, from 11 am to 6 pm.

Source: Crown Group