Nicola Trotman | 13 November 2012

Matching the median, The Castlereagh Sydney half-sold after two weeks

Matching the median, The Castlereagh Sydney half-sold after two weeks

CBRE has sold more than half of the apartments in new Lenland complex The Castlereagh Sydney, which hit the market two weeks ago.

Thus far some 26 of the 50 one-,  two- and three-bedroom apartments have sold.

Located on the corner of Castlereagh and Bathurst streets, the upper floors of the 15-storey Tony Owen-designed building have distinctive bronze-coloured louvres.

Some upper floors overlooks the iconic Hyde Park.

Owen has designed two other apartment buildings in the Sydney CBD: the Ceerose Hyde Park prestige dress circle development, and Eliza in Elizabeth Street, which has an expected completion date of mid-2013.

The 22 one-bedroom apartments in the Castlereagh start from $560,000, with sizes between 50 to 60 square metres.

Its 26 two-bedroom apartments have a starting price of $820,000 and range from 82 to 90 square metres.

There are only two three-bedroom apartments, which have 111 square metres of space and start from $1.25 million.

The Eliza apartment complex has 83-square-metre two-bedroom apartments costing $1.7 million.

RP Data indicates the median sale price for a unit in the Sydney CBD is $530,000. This is 0.5% lower than it was a year ago.

The median rental price is $650 a week, with an indicative gross rental yield of 6.4%.

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