About Circular Quay, Sydney
Circular Quay is the symbolic heart of Sydney — where the CBD, Opera House, Harbour Bridge, and ferry terminal converge in a tableau that defines the city globally. Residential property at Circular Quay commands some of Australia's highest per-sq-m prices, driven by the complete absence of new supply (heritage protections restrict most development) and a buyer pool that extends to Singapore, Hong Kong, and New York. The opening of the Quay Quarter Tower precinct — a 49-storey office and residential redevelopment of Australia Square designed by 3XN architects — represents the most significant addition to Circular Quay's built environment in 30 years.
About AMP Capital / Dexus
Quay Quarter Tower is developed by Dexus (formerly AMP Capital Investors) — Australia's largest unlisted commercial property group and a repeat developer of landmark Sydney addresses. Their commitment to heritage integration (retaining the base and core of the 1976 Australia Square tower within the new structure) and architectural quality sets the project apart from purely commercial redevelopments.
Project Overview
Quay Quarter Tower Residences occupies levels 42–49 of the tower — the uppermost floors above the commercial tenants — delivering 28 ultra-luxury apartments with Sydney Harbour, Opera House, and Botanical Garden views. The residential component is managed by Quay Quarter Living, with a dedicated residential concierge and amenity floor at Level 41 including a sky pool, lounge, and gym. This is one of the rarest residential products in Sydney: true Sydney CBD waterfront, above a brand-new building, with full harbour views.
- Floors 42–49 of Quay Quarter Tower — true CBD harbour residences
- Opera House, Harbour Bridge, and Botanical Garden views from every unit
- Dedicated residential concierge and amenity floor at Level 41
- Sky pool at Level 41 with Opera House panorama
- Ferry terminal, Cahill Expressway pedestrian bridge, and CBD at foot of building
- 28 residences only — the most exclusive residential product currently selling in Sydney
Unit Types & Configuration
- 2 Bedroom — 120–160 sq m (limited availability)
- 3 Bedroom — 195–260 sq m
- 4 Bedroom — 320–420 sq m
- Full-Floor Penthouse (5 bed) — 800 sq m with 360° harbour panorama
Pricing
Two-bedroom from AUD 5.5 million. Three-bedroom from AUD 9.5 million. Four-bedroom from AUD 16 million. Full-floor penthouse priced above AUD 50 million. At AUD 35,000–55,000/sq m, this is Sydney's most expensive new-build product — competing with the existing Crown Residences at One Barangaroo for the ultra-prime title. NSW stamp duty at these values is substantial (5.5% plus premium surcharge).
Investment Verdict
Positives:
- Sydney harbour views at this quality — above a brand-new landmark building in the absolute CBD — will not become available again
- International buyer pool for Sydney CBD is the deepest in Australia; Singapore, Hong Kong, and UK buyers are well-represented
- Dexus developer quality is institutional-grade; no delivery risk
Watch Points:
- NSW foreign buyer surcharge (8% stamp duty + 2% annual land tax) applies to non-resident purchasers — factor into total acquisition cost
- At AUD 50M for a penthouse, buyer pool is globally ultra-thin — resale requires extended marketing horizon