Exclusive: Fife Capital lodge Castlereagh Street, Sydney CBD mixed-use apartment and office development
The Sydney CBD is set for a new mixed-use residential and office development.
Fife Capital, the alternative asset manager led by Allan Fife, has lodged plans for two towers in the heart of the CBD, one residential and one commercial at 114-120 Castlereagh Street and 139 Elizabeth Street.
Fife paid $46 million for the two sites last year when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.
114-120 Castlereagh, currently home to George Bosch Chambers, spans eight storeys and dates back to the mid 1920s. The St James Hotel currently occupies the lower ground, ground and first level.
That building will stay, with GML Heritage stating the building is culturally significant and should be retained and conserved, despite no heritage overlay of the 1920s-built building which underwent a renovation in the mid-1980s.
139 Elizabeth, to the rear of the Castlereagh building fronting Hyde Park, is a four-storey masonry building. With no significant enough heritage or streetscape impact, 139 Elizabeth will be demolished and make way for the 17-level apartment tower, which will home just 26 luxury apartments.
The development will be located across the road from the well-known David Jones Men’s Store, which will be redeveloped by CBUS in to a 22-level residential tower at 77 Market Street. Source: City of Sydney
There will be one, two and three bedroom apartments, and a two-level, four bedroom penthouse across levels 15 and 16.
The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens. A landscaped communal open space has been designed above the commercial building at level 10. The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.
The proposed Elizabeth Street frontage. Source: City of Sydney Council
Fife commissioned the Chippendale-based Tony Owen Partners to prepare the development application.
“Whilst the site is tight, the proposal maximises the potential for landscaped are in this small inner city site,” the design verification statement read.
Tony Owen Partners designed the 17-storey residential tower The Eliza, which adjoins one of the building's on Elizabeth Street for the Ceerose Group.
There was a design advisory panel held between the City of Sydney and Tony Owen Partners in February where issues about the development were discussed and resolved.
Overview of proposal:
• Retention of retail space on the ground floor and basement of Castlereagh St building.
• Retention of the façade and majority of building fabric of Castlereagh St building.
• Existing levels of the Castlereagh St building to be refurbished as a commercial building as present.
• Additional levels above the exiting building on Castlereagh St containing residential uses.
• Additional cores and structure if required to support additional built form.
• A new building on Elizabeth Street consisting of residential uses.
The development also located up the road from the soon-to-be-completed Castle Residences, the luxury 131 apartment by Urban Development Sydney which sits at 203 Castlereagh Street.
The Candalepas Associates-designed, 36-level tower, which incorporates hotel suites as well as residential apartments, is set for completion in December.
Urban Development Sydney has just relaunched the $18 million penthouse.
