- Fortis has secured development approval for a $170 million residential project in Woollahra, including major restoration and newly built apartments
- Acquisition of the site for $50 million following a 12-month negotiation process with the owners of 14 lots
- Fortis has already appointed several award-winning architects and landscapers for the project, which is due to start in late 2023
Fortis has secured development approval for a $170 million residential project in Sydney’s eastern suburb of Woollahra after acquiring the site for around $50 million.
The acquisition represents the largest land consolidation ever by Woollahra with 14 individual lots purchased. Fortis brokered the deal for 12 months and now owns the largest private plot of land in the suburbs.
Located at 2A James Street, Woollahra, the project will include the architectural restoration of existing buildings on the site which date back to the late 1800s and early 1900s.
A collection of new luxury two-, three- and four-bedroom apartments will also be built.
The development will be financed by Pallas Capital, a subsidiary of Pallas Group and a sister company of Fortis. Construction is expected to begin in late 2023.
Project to include the restoration of existing constructions
Fortis director Charles Mellick said the company was grateful to Woollahra Council and the wider community for supporting their vision for the site.
“We will preserve the best architectural elements of the site so that it can be enjoyed by future generations,” Mr. Mellick said.
Fortis appointed MHN Design Union as lead architects, Wyer and Co. as landscape designers and local interior designer Pheobe Nicol for the 1900s terraced residences.
Alexander & Co. will undertake the interiors of the new luxury apartments.
The 1800s theater will be transformed by Melbourne-based Mim Design into a single residence, complete with its own basement, tunnel cellar, courtyard and swimming pool.
Mr Mellick said the development will mark the first time off-plan apartments of this scale have been offered in Woollahra.
“Our aim with this project is to be respectful of its heritage and context, ensuring that existing buildings are restored.”
Charles Mellick, Director of Fortis
New construction on the site will feature a collection of premium apartments, bringing together unrivaled quality and high-end amenities in a location where apartments are scarce,” Mr. Mellick concluded.