d36 property
Preliminary assessment · September 2026

902/209 Castlereagh Street, Sydney

Title, outgoings, the cladding works, market evidence and campaign timing, drawn from the 2016 contract, the strata levy and council rate notices, and the cladding contractor's notice, meeting report and programme. Written for Ben, and for whichever selling agent we appoint. Pricing and campaign get finalised with the agent once shortlisting is complete.

Spring is our window
The building's three best resales all signed in August or September. We launch straight into it
Rare stock
About one two bed resale a year here. When one lists, the buyers waiting for this building notice
Price sets the pace
1002 went in six weeks. 1202 took eight months. The first number decides the campaign
Cladding, handled
Street level only, contracted, insured and Ben's share paid. A disclosure line, not a discount
01

The apartment

2 bed, 2 bath on level 9. Storage on title, no car space.

No car space is the first question every CBD buyer asks, so the listing says it plainly with the nearest options beside it, rather than letting it surface mid campaign.

The lot

  • Lot 26 in Strata Plan 92304, unit 902 on level 9
  • 2 bed, 2 bath, with a storage cage in Basement 1 on title
  • No car space on title
  • Unit entitlement 237 of 10,000. One bed lots here sit between 138 and 170, so this is the larger tier

Floor plan

  • No marketing floor plan exists. Ben bought off the plan and brand new, so there never was one
  • The selling agent's floor plan drawer handles it. An approximate software drawn plan is standard for marketing, it doesn't need to be architectural
  • The strata plan diagrams in the contract cover the legal side
  • It also confirms the internal area, which moves the price range
02

Building and title

Lot 26 in Strata Plan 92304. Clean title, standard for a mixed use tower.

The building

  • The Castlereagh, 141 to 149 Bathurst Street, also 209 Castlereagh Street. Registered December 2015
  • Three strata schemes: residential 50 lots, retail 4, commercial 4, under one Building Management Committee
  • Zoned B8 Metropolitan Centre. Not bushfire prone, no road widening, no acquisition, no contamination orders. Flood related controls apply, normal for the CBD
  • No pool or gym in the scheme. We sell the location, the size and the finish

Title and bylaws

  • Inclusions in 2016: stove, range hood, dishwasher, light fittings, fixed floor coverings. Blinds and curtains weren't listed, so we confirm them
  • Bylaws: cats, small dogs and caged birds allowed on notice. Any flooring change needs 21 days notice
  • Easements for support, services, lift and garbage room access shared across the three schemes
  • Council covenant over the stormwater detention tank. Better explained by us than found by a buyer's conveyancer
03

Outgoings

$228 a week before water, nothing in arrears.

Buyers and their brokers price an apartment off the outgoings as much as the asking number. These are clean, so we lead with them.

OutgoingDetailPer year
Strata levies$2,622.42 a quarter. Admin fund $1,661.96, capital works fund $960.46, includes GST of $238.40$10,489.68
Council rates2026/27. Residential minimum rate $734.80, waste twice weekly $597.00, stormwater $12.50$1,344.30
WaterSydney Water notice not on file yetTo confirm
Known totalAbout $228 a week$11,833.98
Land value $689,315 at the July 2025 base date. Levy notice shows $0 in arrears, no interest, no outstanding owner invoices, and no special levy on it. Strata manager is Titles Strata Management. Next levy is due 1 October, adjusted at settlement.
04

The cladding works

Street level only. Nothing goes up the tower.

Mars Residential Projects start on 6 October, replacing the combustible cladding on the ground level facade, the awning and the awning soffit. Scissor lift access, no scaffold up the building, footpaths open throughout. Level 9 is untouched.

6 Oct 2026
Start
12 weeks
Stage 1, awning
8 weeks
Stage 2, facade
24 Feb 2027
Programmed finish

How it runs

  • In 6 metre zones, starting at the south end of the Castlereagh Street frontage, north to the Bathurst corner, then west along Bathurst
  • Each zone: barricade, strip, engineer hold point, install, move on. Repeated six times per stage
  • Hours: 7am to 5pm weekdays, Saturdays only if needed, never Sundays or public holidays
  • Main risk to the finish date is weather. Mars says so themselves

Who's running it

  • Contractor: Mars Residential Projects, licence 482231C. Anthony Khoury and Luca Lopes
  • Superintendent: Landlay, Andrey Lacher. Independent of the builder, checks the work for the owners
  • Owners side: Dale Harkess, building manager, and Brandon Koprivnjak
  • Weekly site meetings and a dilapidation survey before work starts
05

Disclosure

The paper trail is already strong. We lead with it.

Buyers, their conveyancers and their lenders will all ask about cladding. These answer it before they ask.

DocumentWhat it provesStatus
Signed works contractThe job is committed and priced, not proposedSigned
HBCF insuranceOwners are covered if the builder can't finish or fix defectsProcured
Design declaration REM 7588Designs lodged with NSW Fair Trading, as required for remedial claddingLodged
Notice to occupants, 18 SepScope, dates and hours in writingIn hand
Programme, Rev 1Staged and dated through to 24 Feb 2027In hand
Ben's $30,000 receiptHis share is paid. The next owner inherits the fix, not the billBen to send
Contract sum and principalMatches Ben's levy to this jobConfirm
One thing to square away: the meeting report lists the principal as SP7759, not Ben's scheme SP92304. Likely a typo, but the contract needs to show who signed it and that Ben's $30,000 funds this job. The cost split itself is settled: under the strata management statement the facade sits 88.9% residential, 4.6% retail, 6.5% commercial.
06

Market evidence

Two bed resales here held between $1.1M and $1.25M from 2017 to 2025.

Two bed, two bath sales on record back to the first off the plan contracts in 2012. Ben's line is the 02 apartments, the same position on other floors. One 2018 transfer at $525k is left off as it doesn't reflect the market.

Two bed sales at 209 Castlereagh Street, 2012 to 2026Off the plan sales from 2012 to 2015 ranged $830k to $1.375M. Every resale since late 2017 has landed between $1.1M and $1.25M, except 1301 in August 2026 at an unconfirmed $915k.Resales 2017 to 2025: $1.1M to $1.25M$900k$1M$1.1M$1.2M$1.3M20122014201620182020202220242026Building completedOff the plan303, off the plan, Nov 2012, $870k501, off the plan, Oct 2012, $870k602, off the plan, Oct 2012, $900k301, off the plan, Mar 2013, $830k302, off the plan, Mar 2013, $850k701, off the plan, Jun 2013, $889.5k1102, off the plan, Mar 2013, $1.02M1501, off the plan, Mar 2014, $1.095M802, off the plan, Apr 2014, $1.22M1602, off the plan, Aug 2014, $1.375M801, off the plan, Feb 2015, $880k202, off the plan, Mar 2015, $1.17M1201, resale, Nov 2017, $1.175M1201901, resale, Feb 2018, $1.13M901201, resale, Mar 2020, $1.1M201601, resale, Apr 2020, $1.12M6011601, resale, Aug 2024, $1.25M16011502, resale on Ben's line, Jun 2018, $1.165M15021002, resale on Ben's line, Aug 2020, $1.235M10021302, resale on Ben's line, Mar 2021, $1.13M1302702, resale on Ben's line, Sep 2021, $1.21M7021202, resale on Ben's line, Jul 2025, $1.15M12021301, Aug 2026, $915k unconfirmed1301, $915k unconfirmed
Off the planResale, 01 lineResale, Ben's 02 lineCoreLogic and Domain records, Sep 2026
Steady for a decadeResales held a tight $1.1M to $1.25M band from 2017 to 2025. A stable building, not a falling one
Spring sells bestThe three strongest resales, 1601, 1002 and 702, all signed in August or September
Height isn't the driver702 and 1002 on levels 7 and 10 outsold 1202, 1302 and 1502 further up
About one a yearAround a dozen two bed resales in nine years. When one comes up, buyers in this building notice
07

Price position

Preliminary only. Set properly with the shortlisted agents once their appraisals and the floor plan are in.

$1.13M to $1.235M
Where Ben's 02 line has resold, five times since 2018. Our best guide
Aug to Sep
When the building's best results signed. A mid October launch keeps us in the spring window
About 6%
Rental return an investor would see here, which widens the pool of buyers
$1.46M
Domain's online estimate for 902, which assumes a car space
UnitLineSoldPrice
130101Aug 2026$915,000*
120202, Ben's lineJul 2025$1,150,000
160101Aug 2024$1,250,000
70202, Ben's lineSep 2021$1,210,000
130202, Ben's lineMar 2021$1,130,000
100202, Ben's lineAug 2020$1,235,000
60101Apr 2020$1,120,000
20101Mar 2020$1,100,000
150202, Ben's lineJun 2018$1,165,000
90101Feb 2018$1,130,000
120101Nov 2017$1,175,000

Two bed, two bath resales since 2017, newest first. * Unconfirmed

What we take from it

  • Price it right, day one. 1002 sold in six weeks at $1.235M, 1202 took eight months to reach $1.15M
  • Understand 1301. Recent, quick and low. The agents will know whether it's a one off or a signal
  • Budget off appraisals, not online estimates, so the search starts with the right number
08

Campaign timing

Campaign launch: mid October.

That's the earliest we can go live. The contract needs a fresh planning certificate and strata certificate first, which take one to two weeks, and the agent needs to be appointed and the photos shot once Robyn has styled the apartment.

OctNovDecJanFeb
Cladding worksStreet level only
6 Oct to 24 Feb, never reaches level 9
CampaignLaunch mid October
Campaign launch to exchange
Settlement dateFlexible, shorter preferred to access funds

Earliest possible

Certificates, agent and photos all land by mid October. We go live the moment the contract is ready.

Still in spring

The building's best resales signed in August and September. Mid October catches spring buyers before the Christmas slowdown.

Works don't get in the way

The cladding works stay at street level. Nothing happens on level 9, so inspections run as normal.

09

Staging

Smaller, lighter pieces. Every room should read bigger than it is.

Robyn works to this list and sends updated photos and video on Sunday. The black couch is going.

RoomKeepTo storageBring or hire
LivingRobyn's cream king suite, Persian rug, coffee tableBlack couch, confirmed. TV cabinetNarrow side table or a big plant on the TV wall, lamps, coffee table books
Second bedroomStyled as a study that still sleeps a guestBlack couch, too heavy for the roomSmaller sofa bed, hired. Ben's wooden table as the desk if it suits, otherwise hire one
Main bedroomBedClutterQuality linen and pillows, artwork, dried flowers
BathroomsAs is, see next sectionPersonal itemsQuality towels, a candle
ThroughoutOne colour palette room to roomAnything that clashes with itPots and plants, fake is fine. Candles the agent can light before opens
The feel: minimal and uncluttered, but with colour and warmth, not a showroom. The rug, the cream suite and the plants do most of that work. No new curtains or blinds visible from outside, which the building's architectural code needs committee consent for.
10

Bathroom and access

Style it rather than rebuild it. Final call with the agent.

The main bathroom has grab rails and an open shower with no screen. Ben has looked into replacing the screen: it's costly, and a couple of months through a builder in Sydney, which misses the campaign.

Style around it Likely

Styling and photo angles so it isn't the first thing buyers notice. Ben keeps his Tuesday nights. The agent quotes the fix so it can't become a discount lever.

Replace before launch

Costly, a couple of months through a builder, pushes the launch well past October, and Ben loses the use of it.

Decide with the agent Next catch up

Once shortlisted, the agent's read on how buyers here react sets the final approach.

Tuesday nights: fine. Ben stays Tuesdays, the apartment is cleaned every Wednesday, and I coordinate with the agent so the campaign runs around his schedule. Opens midweek from Wednesday afternoon, and he skips any Tuesday before a booked buyer walkthrough.
11

Contract readiness

Seven documents in hand, ten to go. None of them are blockers.

In hand 7

  • Title and strata planFrom the 2016 contract
  • Bylaws and management statementIncluding the cost split
  • Planning certificate, 2016Needs replacing
  • Levy notice, Oct 2026Clean, no arrears
  • Rate notice, 2026/27$1,344.30
  • Notice to occupants18 Sep 2026
  • Meeting report and programme20 Aug and 3 Sep 2026

We order 6

  • Planning certificate 10.7Fresh, via conveyancer
  • Section 184 strata certificateLevies, arrears, special levies
  • Strata recordsMinutes, capital works plan, works contract. Formal request if Ben's call stalls
  • Sewer diagram and water noticeSydney Water
  • Marketing floor planAgent's floor plan drawer, approximate is fine
  • Staging hireSofa bed, and a desk only if Ben's table doesn't suit

Ben sends 4

  • $30,000 cladding receiptThe best document we have
  • Mortgage detailsIf there's a loan, discharge goes in early
  • ConveyancerConfirm NSW licensed, or I introduce one
  • Robyn's photos and videoSunday
Ben calls strata tomorrow. Anything still stuck, the conveyancer requests formally. Sale terms get drafted off the 2016 contract he bought on, 10% deposit. Settlement negotiable, shorter preferred, longer only if it wins the right buyer.
12

Agent brief

What the selling agent gets on day one.

Property
902/209 Castlereagh St, Sydney. Lot 26 SP92304
Layout
2 bed, 2 bath, level 9, storage on title, no car space
Building
The Castlereagh, 2015. 50 residential lots over retail and commercial. About 60% owner occupied
Outgoings
Strata $10,489.68, council $1,344.30 a year. No arrears
Works
Ground level cladding replacement, 6 Oct 2026 to 24 Feb 2027. Barriers at street level, bike rack area fenced off
Disclosure
Contract signed, HBCF procured, design declaration REM 7588. Vendor's share paid
Evidence
02 line resold $1.13M to $1.235M since 2018. 1601 $1.25M Aug 2024. 1301 $915k unconfirmed, Aug 2026
Vendor terms
Vacant possession. Settlement negotiable, shorter preferred. Ready to launch
Presentation
Vendor styled, minimal and warm. Second bedroom as a study with sofa bed
Access
Vendor stays Tuesday nights, cleaned Wednesdays. Midweek opens from Wednesday afternoon
Expect
Portals list a car space that doesn't exist, fix it. Plus the fire station next door and the bathroom
Contact
Dineth Ekanayake, d36 property. All vendor communication runs through me
13

Recommended actions

Agent shortlist first. Everything else runs alongside it.

Dineth Ekanayake · Director, d36 property
0404 901 345 · dineth@d36property.com.au · www.d36property.com.au