This article is from the Australian Property Journal archive
FORTIS is ready to move forward on its $170 million premium residential Woollahra project, with planning approvals now in place.
Fortis has secured DA approval for the Pallas Capital-funded development at 21 James Street in Woollahra after 12 months of negotiations with individual owners to secure the property.
“We are grateful to Woollahra Council and the wider community for supporting us in our vision for this site,” said Charles Mellick, director at Fortis.
“Our work at the nearby Pallas House Sydney and Gaden House demonstrates our commitment towards retaining Sydney’s architectural heritage, and we feel privileged to have the opportunity to lovingly restore and reinvigorate this site, bringing it back to life. We will be preserving the best architectural elements of the site so it can be enjoyed by future generations.”
The 14 lots were acquired from separated owners for circa $50 million in total for the combined 3,500sqm of land, in the largest ever Woollahra land consolidation in what is now the largest privately held parcel of land in the suburb.
The site currently comprises buildings dating from the late 1800s to the early 1900s which will be refurbished as part of the project, including the $20 million restoration of an 1880s theatre.
With landscaping by Wyer & Co. and MHN Design appointed as the lead architects on the project, which alongside the refurbished buildings will include a collection of newly built luxury residences comprising two-, three- and four-bedroom apartments.
While the theatre is set to be restored by Mim Design and converted into a single trophy residence, with the 1900s terrace interiors to be redesigned by Phoebe Nicol and the interiors of the new apartments to be undertaken by Alexander & Co.
“This is the first time off the plan apartments of this scale are being offered in Woollahra, also marking the biggest sqm regeneration in this suburb,” added Mellick.
As one of the country’s most tightly held suburbs, Woollahra sits just 5km east of the Sydney CBD, sitting in close proximity of the Paddington retail precinct and the heritage-listed Centennial Park.
“Our aim with this project is to be sympathetic to its heritage and context, ensuring that the existing buildings are restored. A new build on the site will feature a collection of premium apartments, bringing together unparalleled quality and premium amenities in a location where new apartments are few and far between,” concluded Mellick.
The DA approval comes months after Fortis secured the green light for its $94 million high-end apartment collection in Rose Bay, enabling its third residential project in the exclusive eastern Sydney suburb.
