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Why luxury apartments are the new hotels

The Property Addict / Distinct Dwellings

Oct 19 2017

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One person's hotel suite is another person's castle. Coco Chanel famously lived in the Ritz Hotel in Paris for over thirty years redecorating the suite to her taste, while Hollywood's Chateau Marmont was home to stars like Robert De Niro, Elizabeth Taylor, Paul Newman and Mick Jagger. When the Beckham family moved to Madrid they initially took up residence in the AC Santo Mauro hotel for a couple of months, reportedly racking up a bill of £430,000 (AUD$730,000). If David and Victoria moved to Sydney they could spend that same amount on a deposit for a luxury apartment, and plan to live there forever. If the famous couple happened to buy in developer Shanghai United's Castle Residences overlooking Hyde Park, they would also enjoy amenities like 24-hour concierge, room service, housekeeping and valet parking, and feel every bit as though they were living in a five-star hotel. castle A new take on the apart-hotel, Castle Residences will sit above the MGallery Hotel by Sofitel and enjoy all that the hotel offers in terms of premium service and facilities like pools, gyms and a cocktail bar. Castle Residences' three-level penthouse spanning 300 square meters, boasts an indoor and three outdoor gardens and an L-shaped swimming pool that wraps around the building. Not surprisingly, it sold for AUD$18 million prior to its launch in August. The good news is there are still a few apartments left, studios, one, two and three bedrooms boasting grey timber floors; white-veined porcelain tiles and graphite-metal detailing and tapware, Gaggenau and Miele appliances, not to mention majestic views. CB_View_10D3_Apt_304 R6B Although relatively unique to Sydney, Castle Residences is part of an international trend towards luxury "lock and leave" apartments, designed for wealthy buyers who often own multiple properties across the globe. In Ten Thousand, a 40-story tower featuring 283 luxury apartments in Beverly Hills, residents can use a mobile app to book a house car, pilates class or schedule the on-site nutritionist, while the technology concierge assists residents with all of their tech needs. Baccarat Residences in New York range from one to five bedroom apartments with six full-floor homes, three duplexes and a penthouse. Residents enjoy the same trimmings as Baccarat Hotel guests including a La Mer Spa, housekeeping, laundry, child care services, personal training and in-residence personal chef services. large_160207_Evan-Joseph_baccarat_penthouse_0007 Other examples of hotel-style living the Sydney CBD include One Circular Quay, 60 Bathurst and The Residence. CBRE Managing Director David Milton said these highly amenitised homes appeal to international jetsetters as well as local downsizers. "We found buyers were eager to secure themselves a piece of real estate in the highly sought after Hyde Park precinct due to the unbeatable proximity to all Sydney CBD has to offer. CB_View_4A_Sky_Terrace_FINAL "We've been very impressed by the level of interest for Castle Residences which provides a premier address to those seeking the very best Sydney city has to offer," he said. "These buyers are seeking rare and unique experiences, and offerings such as Castle Residences offer not just experiences, but hassle-free ownership in a very desirable location." From London to St. Lucia and Miami the trend towards hotel-style residential offerings is only increasing. Whether it's cuisine by celebrity chefs, event tickets or on-call nutritionists, new residential offerings are stepping up the game to reach high-net-worth buyers, whose expectations continue to rise. A new release of exclusive apartments in Castle Residences are now for sale. Studios from $1.15m - $1.195m 1 Beds from $1.805m - $2.88m 2 Beds from $2.17m " $3.625m 3 Beds from $4.3m - $8.5m Exquisite sub-penthouse $8.5m More information: http://castleresidences.com.au/ Words: Julia Hughes Images: Supplied Save Save Save Save Save Save

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