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AMP Capital has appointed Richard Crookes Constructions (RCC) to build its Loftus Lane apartments, which are located on 4,300 square metres of prime real estate within the Quay Quarter precinct at Circular Quay.
Family-owned RCC is based in NSW and the ACT and has been building across all real estate sectors including residential since 1976, with an established track record delivering successful building projects for its clients. The RCC team brings to the Loftus Lane project extensive experience constructing superior residential buildings.
The appointment of a construction partner for the residential component of Quay Quarter signals the commencement of the first building stage of the Quay Quarter project, which is being undertaken by AMP Capital on behalf of investors in the AMP Capital Wholesale Office Fund (AWOF) and AMP Capital Diversified Property Fund (ADPF).
AMP Capital Global Head of Real Estate Carmel Hourigan said Loftus Lane and Quay Quarter represent an extraordinary project for AMP Capital in a very special location.
Ms Hourigan said: “The appointment of RCC marks a significant step for AWOF and ADPF investors as well as the local community when it comes to the transformation of Circular Quay. Through our Quay Quarter development, we are revitalising Sydney’s most renowned precinct to create the city’s newest urban neighbourhood.
“Circular Quay has been AMP’s home for more than 55 years and our plans for the Quay Quarter precinct ensures the retention of its rich history as a unique gateway to Sydney.
“AMP Capital is in the business of delivering great investment experiences and driving great outcomes for our investors. The Quay Quarter development, including the Loftus Lane apartments, is a fantastic example of this.”
The Loftus Lane apartments were offered for sale in June 2017 with all 106 apartments across the three buildings rapidly sold out.
Each of the three Loftus Lane buildings, bordered by Young and Loftus Street and just steps from Sydney Harbour, has an award-winning architect: SJB for 15 Young Street, Silvester Fuller for 18 Loftus Street and MAKE Architecture for 8 Loftus Street.
RCC CEO George Bardas said: “The Loftus Lane apartments are more than a stand-alone building project. It’s the first stage of the transformation of the original gateway to Sydney, the historic Circular Quay precinct, to become Quay Quarter. We are thrilled to be a part of this landmark revitalisation.”
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About AMP Capital
AMP Capital is a specialist investment manager with A$178.9 billion in funds under management as of 30 June 2017 and more than 250 investment professionals. AMP Capital has a heritage and strength in real estate and infrastructure, and specialist expertise in fixed income, equities and multi-asset solutions. It is a subsidiary of AMP Limited, which was established in 1849, and is one of Australia's largest retail and corporate pension providers.