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Crown Group Partners with Mitsubishi Jisho Residence to Develop $500M Inner Sydney Community, Mastery by Crown Group

November 29, 2018

SYDNEY--(BUSINESS WIRE)--Nov 28, 2018--Australian residential property developer Crown Group today 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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181128005829/en/

Mastery by Crown Group (Photo: Business Wire)

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 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), 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 at 127 Devonshire Road, from 11 am to 6 pm. For more information or to register your interest, please contact CBRE in Singapore: James Puddle at (+65) 9784 6547 or jamespuddle@oneglobal-property.com

For more information visit www.crowngroup.com.au/mastery.

Images & video Images and video are available to download here: https://www.dropbox.com/sh/5975ayskgovqynv/AAAJHGxr2BYpaUXD9tSSjs7_a?dl=0

Images and video are available upon request including artist impressions, photographs of display apartments and computer-animated ‘fly-through’ footage of selected Crown Group developments.

About Crown Group Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in 1996.

Iwan Sunito graduated with Bachelor of Architecture (Hons) and Master of Construction Management from University of NSW. In 1993 Iwan became a Registered Architect in NSW and was awarded the UNSW Eric Daniels award for excellence in residential design. Iwan was awarded an EY Entrepreneur of the Year Award 2013 and was also named Urban Taskforce Australia’s Property Person of the Year 2015.

Paul Sathio graduated with a Bachelor’s Degree in Civil Engineering from University of Technology Sydney (UTS) and a Master of Engineering Science from University of NSW. Paul has more than two decades’ experience in the construction and development industry.

Past and recent projects Since the company was founded in 1996, Crown Group has successfully completed major developments in Sydney’s best locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 28-storey V by Crown Group in Parramatta. Today, Crown Group boasts a large portfolio of projects under development and in the pipeline and is currently developing four major projects; Infinity by Crown Groupin Green Square, a 25-storey residential tower Arc by Crown Group in the heart of Sydney, Waterfall by Crown Group in Waterloo and Eastlakes Live in Sydney’s Eastern Suburbs.

Awards Crown Group has been awarded more than 20 high-profile industry awards including the 2018 UDIA NSW Best Mixed-Use Development for V by Crown Group Parramatta, 2015 Master Builders Australia (MBA) NSW Excellence in Construction Awards for Viking by Crown Group Waterloo and 2014 Urban Development Institute of Australia (UDIA) NSW President’s award – considered one of the highest property development accolades in Australia – for the seven-tower, resort-style development Top Ryde City Living.

Skye Hotel Suites Crown Group launched its first Skye Hotel Suites in Parramatta in August 2017 with a second hotel opened in Sydney’s CBD on 18 October 2018.

Future launches Crown Group will launch its next project in West End, Brisbane, in 2019. www.crowngroup.com.au

About Mitsubishi Estate Group and Mitsubishi Jisho Residence Headquartered in Tokyo, Japan, Mitsubishi Estate Co Ltd is a comprehensive real estate developer operating a spectrum of businesses in diverse fields related to real estate, including the development and management of an office building business centred on the Marunouchi district in central Tokyo, a retail property business, a residential business and a hotel business. The company is also actively expanding its operations overseas.

Mitsubishi Jisho Residence is a residential arm of Mitsubishi Estate Group. Mitsubishi Jisho Residence have been developing condominiums predominantly in the Tokyo metropolitan area, as well as in Sapporo, Sendai, Nagoya, Osaka, Hiroshima and Fukuoka.

The mission of Mitsubishi Jisho Residence as the leading company is not only to stably supply high quality condominiums, but also to consistently pursue the ideal living environments, to listen to the feedback from customers, and to provide high-quality housing for the future.

With the brand “The Parkhouse,” Mitsubishi Jisho Residence aims to provide a variety of housing in wide range prices and pursues the best both in terms of service and quality.

https://www.mec-r.com/english/pdf/profile_2017.pdf

View source version on businesswire.com:https://www.businesswire.com/news/home/20181128005829/en/

CONTACT: Hwee Peng Yeo

+65 97686087

hweepeng@glodownead.com

KEYWORD: AUSTRALIA ASIA PACIFIC AUSTRALIA/OCEANIA SINGAPORE

INDUSTRY KEYWORD: URBAN PLANNING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Crown Group

Copyright Business Wire 2018.

PUB: 11/28/2018 07:00 PM/DISC: 11/28/2018 07:01 PM

http://www.businesswire.com/news/home/20181128005829/en

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