Elizabeth Bay apartment development gets green light
A prime development site in Sydney's Elizabeth Bay has finally got the green light to construct a luxury apartment development.
The integrated property group Top Spring Australia submitted $21 million plans to the City of Sydney earlier this year to develop the 1,345 sqm site at 11-13 Greenknowe Avenue which is owned by the Chinese-backed Australia developer SHMH Group.
SHMH paid $20.24 million for the development site in 2014, but over the years had been struggling to get an eight level building approved due to height restrictions.
They then had a 52 room boarding house approved, with conditions, but steps to expedite the deferred commencement with the council were not successful.
The new plans will see the former HQ of the NSW Country Women's Association demolished and the site excavated, before the construction of a part six, part seven storey residential building made up of 30 two and three bedroom apartments.
There will be one level of basement parking.
It will be only for owner-occupiers, or those on long-term residential leases, and not for short-term accomodation.
PBD Architects have designed the building which will recognise the heritage character of the surrounding area, with a brick façade and art deco features.
Top Spring also recently appointed award-winning Melbourne-based designer, Miriam Fanning, of MIM Design.
Taylor Brammer Landscape Architects have also been commissioned for the project.
Sydney Ma, Director and General Manager of Top Spring Australia, says Greenknowe Avenue will also demonstrate the company’s ambition to incorporate the character of the local area into each of their projects.
“Elizabeth Bay is well-known for its stunning architecture, so with our Greenknowe Avenue project, we are committed to delivering an exemplary level of quality and design, while respecting and honouring the distinctive architectural character of the local surroundings,” explained Mr Ma.
“In this context, it will be of utmost importance for us to deliver an outstanding building design that complements Elizabeth Bay, and it’s pleasing to know the City of Sydney approves of our vision.”
SHMH had been using the building as offices as they struggled to get their eight level building approved.
SHMH tried to sell the building, listing it last September hoping it would sell for around $30 million.
PBD's latest development to the City of Sydney saw them request to convert a portion of the ground floor of the existing building as a display suite, which suggests the development will be called Watanabe.
Sales are expected to commence in April 2021, with completion slated for 2023.
