This article is from the Australian Property Journal archive
PALLAS Group’s Fortis has lodged plans for a $125 million project in Sydney’s beachside suburb of Bronte, marking the developer’s first foray into the city’s luxury house market.
Fortis picked up the 2,472 sqm amalgamated site at 122-128 Hewlett Street earlier this year for $44 million in Sydney’s largest-ever apartment block sale, and has now lodged plans with Waverley Council for 10 homes less than 200 metres from Bronte Beach.
The proposed scheme has been developed in response to the increased demand for luxury houses in Sydney’s east, according to Fortis director, Charles Mellick.
Construction is expected to commence by mid-2023, once plans are approved by the local council.
With architecture by MHN Design Union and interior design by Alexander and Co and Lawless & Meyerson, the collection of private homes will feature three or four bedrooms, four bathrooms and secure basement parking. Open-plan living and dining areas will open onto north-facing private pools and gardens by Wyer & Co, in addition to sweeping views of Bronte Beach from the upper levels.
“With an expected end value of $125 million, we are investing in the future of the luxury residential coastal market in Sydney that continues to remain buoyant,” Mellick said.
Each home will have private full-floor master retreats including expansive bedroom, walk-in robes and ensuites, dedicated laundry rooms, custom swimming pools and spas, grotto entertainment areas in the rear garden and integrated Sub-Zero and Wolf appliances.
Select residences will have wellness rooms that can be converted into gyms or studios for pilates and yoga, cinema rooms, and the option to have a private art studio or kids’ rumpus room.
Fortis has been snapping up property across Sydney’s city fringe harbour suburb of Double Bay recently for high-end boutique developments, while in Melbourne the group recently added $108 million worth of projects to its city fringe commercial development pipeline after acquiring sites in Richmond and South Melbourne.
The expected end value of Fortis projects currently under construction or under a planning proposal is $4 billion nationwide.
