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08-05-2014, 08:37 AM
Apartments boom spreads further in Sydney’s north shore
KYLAR LOUSSIKIAN THE AUSTRALIAN MAY 08, 2014 12:00AM
Drawings for Chatswood Post Office site proposal.
Drawings for Chatswood Post Office site proposal. Source: Supplied
THE apartment boom on Sydney’s north shore shows no signs of slowing, with several developers moving closer to receiving planning approval for major projects totalling almost 1500 units.
The burst of new apartment projects in North Sydney and Milsons Point, led by the likes of The Crown Group and China’s Bridgehill, is now gaining traction in other centres.
Project proponents range from listed groups, developers and government authorities looking to maximise the value of their holdings.
One of the latest plays is the proposed redevelopment of the ailing Mandarin Centre in Chatswood owned by a syndicate controlled by developer Michael Teplitsky that has received the backing of Willoughby Council planners and will be presented to the council next Tuesday.
If the project, led by private groups Mandarin Developments and Blue Papaya, is approved, it could mean up to 244 additional units, totalling about 23,500sq m, on the market.
The total floorspace on that site would increase from the current 16,291sq m to about 39,200sq m, spread across a six-storey retail podium on the corner of Albert and Victor streets, and two residential towers 11 and 23 storeys high.
Planning documents prepared for Willoughby Council report “significant traffic and car-parking issues” remain unresolved. The documents also query the economic study prepared by Urbis, finding the basis for potential jobs is unclear “as figures mentioned in the study do not add up and are based on an earlier concept plan”.
But the report ultimately recommends the proposal be supported, citing the Mandarin Centre’s “poor street activation”, dated facade and problems with the internal layout. The revamp has also secured support from two existing tenants, Strike Bowling and the Gordon Club.
Another tower proposed nearby, on the Chatswood Post Office site, is to be sent to the state’s Joint Regional Planning Panel, after the NSW government decided the proposal had sufficient merit to proceed despite not having the support of Willoughby Council.
Australia Post is hoping the site will be rezoned to allow for up to 42 storeys. The new building would include about 210sq m of retail space on the ground floor, 1860sq m of commercial office space, and about 300 apartments.
The NSW planning authorities are also backing plans for major revamps at St Leonards proposed by Charter Hall Group and Leighton Properties. The developers have won support for a proposal to change the zoning on two sites fronting the Pacific Highway in St Leonards in March and are now preparing an application to council.
Charter Hall originally took plans to Lane Cove Council to build a 37-floor, 390-apartment residential block at 504 Pacific Highway. Leighton Properties is separately developing 520 units in two towers, one 34 and the other 24 storeys, at 472-486 Pacific Highway.
Mark Gray, managing director of Leighton Properties, said he looked forward to working with Lane Cove Council over the next few months. “It’s an exciting opportunity to revitalise the southern gateway to St Leonards with a mixed-use development,” he said. “It will include commercial, residential, retail and leisure amenity near to St Leonards train station.”
Charter Hall joint managing director David Harrison noted the potential of the site, which the group is likely to sell rather than develop itself.
KYLAR LOUSSIKIAN THE AUSTRALIAN MAY 08, 2014 12:00AM
Drawings for Chatswood Post Office site proposal.
Drawings for Chatswood Post Office site proposal. Source: Supplied
THE apartment boom on Sydney’s north shore shows no signs of slowing, with several developers moving closer to receiving planning approval for major projects totalling almost 1500 units.
The burst of new apartment projects in North Sydney and Milsons Point, led by the likes of The Crown Group and China’s Bridgehill, is now gaining traction in other centres.
Project proponents range from listed groups, developers and government authorities looking to maximise the value of their holdings.
One of the latest plays is the proposed redevelopment of the ailing Mandarin Centre in Chatswood owned by a syndicate controlled by developer Michael Teplitsky that has received the backing of Willoughby Council planners and will be presented to the council next Tuesday.
If the project, led by private groups Mandarin Developments and Blue Papaya, is approved, it could mean up to 244 additional units, totalling about 23,500sq m, on the market.
The total floorspace on that site would increase from the current 16,291sq m to about 39,200sq m, spread across a six-storey retail podium on the corner of Albert and Victor streets, and two residential towers 11 and 23 storeys high.
Planning documents prepared for Willoughby Council report “significant traffic and car-parking issues” remain unresolved. The documents also query the economic study prepared by Urbis, finding the basis for potential jobs is unclear “as figures mentioned in the study do not add up and are based on an earlier concept plan”.
But the report ultimately recommends the proposal be supported, citing the Mandarin Centre’s “poor street activation”, dated facade and problems with the internal layout. The revamp has also secured support from two existing tenants, Strike Bowling and the Gordon Club.
Another tower proposed nearby, on the Chatswood Post Office site, is to be sent to the state’s Joint Regional Planning Panel, after the NSW government decided the proposal had sufficient merit to proceed despite not having the support of Willoughby Council.
Australia Post is hoping the site will be rezoned to allow for up to 42 storeys. The new building would include about 210sq m of retail space on the ground floor, 1860sq m of commercial office space, and about 300 apartments.
The NSW planning authorities are also backing plans for major revamps at St Leonards proposed by Charter Hall Group and Leighton Properties. The developers have won support for a proposal to change the zoning on two sites fronting the Pacific Highway in St Leonards in March and are now preparing an application to council.
Charter Hall originally took plans to Lane Cove Council to build a 37-floor, 390-apartment residential block at 504 Pacific Highway. Leighton Properties is separately developing 520 units in two towers, one 34 and the other 24 storeys, at 472-486 Pacific Highway.
Mark Gray, managing director of Leighton Properties, said he looked forward to working with Lane Cove Council over the next few months. “It’s an exciting opportunity to revitalise the southern gateway to St Leonards with a mixed-use development,” he said. “It will include commercial, residential, retail and leisure amenity near to St Leonards train station.”
Charter Hall joint managing director David Harrison noted the potential of the site, which the group is likely to sell rather than develop itself.