Iris Capital kicks off final stages of $1 billion transformation of Newcastle CBD

Iris Capital, headed by visionary developer and rich lister Sam Arnaout, launched the third and fourth stages of the multi-award winning $1 billion East End Village project in Newcastle last night.

One of Australia’s most prominent independent project marketers, Urban Activation will oversee the marketing and sales of the $450 million final stages of East End Village – the city’s biggest rejuvenation project.

The launch follows the success of the first two stages, both of which have sold out.

With construction of the second stage nearing completion, Iris Capital has appointed Urban Activation to bring the final 200 apartments to the market.

“East End Village has been one of the most significant urban renewal developments ever undertaken in Newcastle, delivering a step change for the city and leveraging off the massive infrastructure spending program that has revitalised the inner city in recent years,” said Urban Activation director Matt George.

“We’re thrilled to be working with Iris Capital to bring the final two stages of East End Village to the market which will include some of the most exclusive residential offerings of the entire development.”

Once complete, East End Village will create a vibrant urban precinct across four city blocks in Newcastle’s inner-city area.

Urban Activation has an unparalleled record of working with some of country’s largest private developers, providing project marketing advice and services on projects in Australia and New Zealand.

The appointment by Iris Capital boosts Urban Activation’s Hunter Valley project marketing portfolio to more than $1 billion amid a major expansion of activities for the group which was founded in Melbourne by Mr George in 2013.

“We are really excited about the growth prospects for the entire Hunter Valley region at the moment,” said Mr George.

“East End Village is among the latest catalysts to the ongoing revitalisation of Hunter Street and the Newcastle CBD, and this is having a knock-on effect to the entire region. In fact, we believe the Hunter Valley is currently one of the hottest property markets in Australia.”

With the second stage of East End Village set for completion this year, East End is breathing new life into the Newcastle CBD.

The development, set across five buildings incorporating original heritage architecture, will deliver a blend of residential, retail, entertainment and dining to the city’s heart.

The completed first stage includes the historic Fabric House, Washington House, and Perkins & King buildings which have been transformed into a retail and multi-residential precinct that is centred on the open space of Lyrique Lane.

Residential apartments at East End Village have been designed to transcend the typical standards of apartment living by delivering considered interiors that are crafted by design firm SJB to embrace spectacular coastal views and evoke a luxury resort environment.

“Stage three and four represent the final release of East End Village and will feature the most luxurious penthouses yet,” said Mr George.

“The open floorplans unfold onto a private balcony towards one of Newcastle’s many sights including the harbour foreshore, ocean horizon, or verdant hilltop grounds of Christ Church Cathedral.

“East End has proved popular with local buyers, both downsizers and upsizers, who want to live in the transformed CBD. We expect this trend to continue in the final two stages.”

Stage three and four is a collaboration between three architectural firms, SJB, DBJ and Curious Practice – all of which won a design competition for the best achieved design excellence amongst their peers.

One-bedroom residences are priced from $750,000 whilst two-bedroom offerings are priced from $1,150,000 and three-bedrooms are priced from $2,750,000.

Developer Iris Capital is one of Australia’s leading private property and hotel groups with a diverse portfolio of investment and development activities.

Under Mr Arnaout’s guidance over the past 25 years, the company has created $5 billion in enterprise value with the Iris Capital group now generating annual revenue of more than $500 million and employing more than 2,500 people across Australia.

Since 2013, Urban Activation has worked nationally with some of Australia’s largest private developers, driving sales and marketing activities on a range of projects from iconic high rises to boutique townhouse and apartment developments. 

Urban Activation draws on the extensive experience within its team, working with developers to craft and execute effective market entry and exit strategies, achieving an enviable record of success across diverse market conditions.