Kings Cross

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<p>China’s largest developer Greenland Group has bought the Crest Hotel in Sydney’s Kings Cross.</p>
<p>The property, with development potential, was bought from Sam Arnaout’s hospitality and development group Iris Capital.</p>
<p>Colliers International agent Miron Solomons handled the off-market transaction of the property on t<span style="line-height: 1.3em;">he Victoria Street and Darlinghurst Road corner.</span></p>
<p><span style="line-height: 1.3em;">Iris bought The Crest for about $65 million from Australand in 2012. </span></p>
<p><span style="line-height: 1.3em;">Iris also owns the Bourbon bar and restaurant in Kings Cross, so has forgone the opportunity to bookend the Kings Cross strip with prestige projects.</span></p>
<p>The Victoria Street-Darlinghurst Road hotel has an end value of about $300 million<span style="line-height: 1.3em;"> with a $55 million development value.</span></p>
<p><span style="line-height: 1.3em;">The state-owned Greenland is set to float on the Shanghai Stock Exchange.</span></p>
<p>The Crest Hotel has development ­approval for 139 apartments.</p>
<p><img src="https://durbachblockjaggers.com/file/02-crest-hotel_550a6539cd7ae-projectImage.jpg"></p>
<p>Iris had plans to develop the 19-storey tower with an hourglass design by architects Durbach Block Jager.</p>
<p>Following a design competition held by the City of Sydney council, the concept for stage-one plans were approved.</p>
<p><span style="line-height: 1.3em;">Comparisons have been drawn between New York's Times Square and the new site for </span><a href="https://durbachblockjaggers.com" target="_blank" style="line-height: 1.3em;">DBJ's The Crest</a><span style="line-height: 1.3em;">.</span></p>
<p><span style="line-height: 1.3em;"><em>All images from Durbach Block Jaggers.</em></span></p>
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jchancellor-FAypfDUnLy

Greenland buys The Crest in Kings Cross

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<p>The Bourbon, Kings Cross owner is having another go at getting development approval for the extensive site amalgamation, after heritage rules forced them to keep the two Italianate terrace style buildings.</p>
<p>The $65 million proposal comes two years after the City of Sydney released new planning controls for Darlinghurst Road in Kings Cross.</p>
<p>Costs have soared from the initial $47 million proposal.</p>
<p>The draft controls ensured that any development retain the heritage.</p>
<p>The façade of The Bourbon at 22–24 Darlinghurst Road was deemed a site of historical significance that reflected social and architectural change in Potts Point over the decades.</p>
<p>The mansion terrace was originally built for wealthy professionals, then modified for use as a private hospital, later converted to a boarding house, and finally became a popular nightclub.</p>
<p><span lang="EN-GB"> <img src="https://www.urban.com.au/images/2020/9/17/The%20Bourbon%202.jpeg" alt=""></span> </p>
<p>The proposal marks the end of an era for the standalone hotel that comes with more folklore than any other in Sydney since being opened in 1967 by Bernie Houghton.</p>
<p>The <span class="m_-4462631763877072612gmail-il">Bourbon</span> premises, initially the haunt of US servicemen on R&amp;R, then colourful underworld Sydney identities, more recently had a reputation for late night sporting star fistacuffs as it was among Sydney's first seven days 24-hour licenced premises.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/17/The%20Bourbon%203.jpg" alt=""></p>
<p>Having spent $66 million on his substantial five building site amalgamation, developer Sam Arnaout engaged heritage advisers who pressed ahead with demolition plans.</p>
<div>Residents strongly opposed the demolition of the heritage buildings dating back to 1890s in what was a $47 million proposal.</div>
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<div>Arnaout initially viewed the retention of the heritage and its incorporation into the proposed development "as not feasible or necessary."</div>
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<div>Indeed Urbis and NBRS both initially claimed that the site included "a highly altered building which is not easily distinguishable as a representative example of the late Victorian period in which it was constructed."</div>
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<div>"The site now represents an ad hoc collection of elements with no clear chronology or character and the buildings do not have the level of intactness to warrant retention, except for the principal form of No.30 Darlinghurst Road (Les Girls),' it argued in 2017.  </div>
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<div>"Any historic and aesthetic values are considered to be eroded by successive and substantial modifications.," it added.
<p>"The façade of 22 and 24 (above the awning) makes a limited contribution to the streetscape as a recognisable Victorian styled element, however the contribution is highly degraded."</p>
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<p><a href="https://online2.cityofsydney.nsw.gov.au/DA/IndividualApplication?tpklapappl=1492052&amp;fbclid=IwAR1PNwdTFTeB-Hyuc_dPIvvjniiUe36Znfy4JTkMsFnP_gQc44AXmCU6cco" target="_blank">The new plans</a>, which are understood to reduce the number of apartments in order to include a hotel, have not yet been formally posted on the City of Sydney website, but circulated among resident and business groups.</p>
<p>It was 2017 when the infamous Bourbon nightclub in Kings Cross was set for outright demolition following a redevelopment proposal for a $47 million luxury eight storey apartment block.</p>
<p><span class="m_-4462631763877072612gmail-il">Arnaout</span> controls the expanded northern entry of the Cross, from the Fountain Cafe at Kingsley Hall on Barncleuth Square through to the Empire Hotel on the Roslyn Street corner, but he has still missed out on securing the Lido building which would have made the site rectangular. His site is 2500 sq m.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/19/KC.jpg" alt=""></p>
<p>(Source Sydney City Council Archives)</p>
<p>The only nod to the past in the proposed plans was keeping the curved facade of the former 1965 Les Girls hotel.</p>
<p>Arnaout's Iris Capital initially proposed 83 apartments and 101 car parking spaces, plus retail premises and two licensed bars. It is proposed the reincarnated Bourbon will have up to 400 patrons and the Empire some 920, as it the mixed use application seeks to navigate the twin outcomes of liquor outlets and quiet residential living.</p>
<p>Chris Corrode, the Sydney City Council area planning manager, had given Iris Capital pre-application advice on the initial proposal</p>
<p>Arnaout ought to increase the site density.</p>
<p>The current floor area is 5856 sqm. The initial application seeks an extra 1865 sqm, taking the density to 6936 sq m.</p>
<p>The initial proposed design (below) of the façade to Darlinghurst Road had been developed with SJB Planning, Urbis Heritage and Woods Bagot Architects. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/19/FAC1.jpg" alt=""></p>
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<p>Arnaout bought the Bourbon for $24 million from publican Christopher Cheung who said the lockout laws had influenced his decision to sell the property.</p>
<p>The proposed apartment block has been a collaborative design by SJB Planning, Urbis Heritage and Woods Bagot Architects. </p>
<p>Within the subject site, a three-storey retail building and boarding house known as Lowestoft was constructed on 20 Darlinghurst Road; a three-storey residential boarding house, St Louis on 22 Darlinghurst Road; a three-storey private hospital, Chanrlesmont, on 24 Darlinghurst Road and a pair of attached, two-storey houses known as “Lister” and “Lynn” on 26 and 28 Darlinghurst Road; and an eight-storey residential chambers called Commodore Private Hotel was constructed at the junction of Darlinghurst Road and Roslyn Street, designed by architect, Claude Hamilton.</p>
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Stalled Bourbon, Kings Cross redevelopment returns respecting its heritage

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<p><span><span>Set in the heart of the Kings Cross entertainment precinct on Kellett Street, </span><span>The Powder Keg premises have been sold at $1,712,000.</span></span></p>
<p><span><span>Its lease came with a net income $122,000 per annum plus GST. There was f</span><span>ixed rental growth of 4% per annum for the </span><span>150 sqm space that included valuable outdoor area of 19 sqm.</span><br></span></p>
<p><span><span>It was marketed as a "rare opportunity to purchase a high quality long term investment in this tightly held retail precinct," by </span><span>James Griffiths at LJ Hooker Commercial.</span></span></p>
<p><span>It is leased to the international award winning Grant Collins, the food and beverage consultant with a n</span><span>ew high quality fit-out from Edge Design Studio on a n</span><span>ew 6 plus 6 year lease.</span></p>
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Kings Cross Powder Keg premises sold

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<p>A tenanted office space in Sydney’s Potts Point has traded hands for $710,000.</p>
<p>The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-kings+cross-502029946" target="_blank">8/2-14 Kings Cross Road, Kings Cross</a> is part of a building that was was refurbished and strata titled in 2004 into a hotel and four levels of commercial offices. </p>
<p>The floor area is 82 sqm and the office offers panoramic city views. </p>
<p>It is on the fringes of Potts Point, close to Kings Cross Rail Station. This is a Bohemian suburb frequented by creative businesses whilst only a train stop to the Sydney CBD.  </p>
<p>The property could be converted into residential accommodation subject to council approval. </p>
<p>It is being sold as a leased investment with a three-year lease till 2017 with a three-year option to a marketing company.</p>
<p>The net rental is $43,529.</p>
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jonathanchancellor-7SQnKwU6yx

Office with lease in Sydney's Potts Point sells for a cool $710,000

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<p>Coca-Cola has put its redundant vintage Kings Cross billboard up for auction, with proceeds going to the Wayside Chapel.</p>
<p><a href="https://stores.ebay.com.au/bidsforgood/cocacola" target="_blank">Pieces of the former sign</a> will be sold on ebay while held in storage at a<span> Girraween warehouse in Sydney</span>. </p>
<p class="standfirst-content">Coke will auction the eight letters individually over five days from September 7. </p>
<p class="standfirst-content">The two largest letters, the “Cs”, are more than 5.4m tall, up to 6.6m wide, 29cm deep and weigh 65kg each. The smaller letters are around 2.8m tall, between 1.2m and 2.6m wide, 29cm deep and weigh between 25kg and 40kg.</p>
<p>The flashing neon billboard has been refurbished with the old lights being replaced with a more energy efficient billboard.</p>
<p>The billboard was built in 1974 with its 800 neon lights switched off permanently last September for work to begin on the billboard’s refurbishment.</p>
<p>The charity fundraiser is being promoted on the billboard, Mumbrella reported.</p>
<p><img class="aligncenter size-large wp-image-391360" src="https://d1pet9gxylz2tx.cloudfront.net/uploads/2016/08/Screen-Shot-2016-08-28-at-1.39.05-pm-468x267.png" alt="Screen Shot 2016-08-28 at 1.39.05 pm" width="468" height="267"></p>
<p>According to the promotion, proceeds from the sale will go to Kings Cross charity Wayside Chapel. </p>
<p>The Wayside Chapel recently expanded to Bondi Beach. On 1 July 2016, the Chapel by the Sea in Bondi Beach officially came under the management of Wayside. </p>
<p>Following an interim 12-month arrangement, The Sydney Presbytery of the Uniting Church of Australia (UCA) will officially grant The Wayside Chapel of Kings Cross all responsibility for the governance and management of Bondi’s Chapel by the Sea and its related operations.</p>
<p>This includes the Community Services Centre at Norman Andrew’s House, and the North Bondi Op Shop, as well as the programs, worshipping communities and the resources that form part of the Chapel by the Sea.</p>
<p>Reverend Graham Long, Minister and CEO of the Wayside Chapel, and Reverend Graham Anson, Minister of Chapel by the Sea, welcome the opportunity to work together.</p>
<p>The first priority following the announcement will be a $100,000 upgrade of the facilities at Norman Andrew’s House, followed by a $630,000 redevelopment of the Chapel by the Sea to transform the site into a beacon for the community with a café, chapel, performance area, co-working space and two serviced holiday apartments.</p>
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Coca-Cola sign up for sale in pieces

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<p>The Piccolo Bar, just off the main strip in Sydney’s Kings Cross - which recently featured in the ABC-TV series Rake - is closing its doors after 65 years.</p>
<p>“It is very sad,” says its longtime owner-operator Vittorio Bianchi, 82, who came to work as the barista in the tiny café as a 29 year old in 1964.</p>
<p>He said the Cross was so quiet now - blaming the lockout laws and the ban on smoking inside, and outside, cafés for the likely end of the Cross's oldest coffee bar.</p>
<p>"The politicians have done a good job of killing the place,” he told Fairfax Media</p>
<p>The Piccolo Bar, on Roslyn Street, had a clientele that’s included prime ministers from Gough Whitlam to Malcolm Turnbull.</p>
<p>There were the screen stars like Mel Gibson, Judy Davis and Jeremy Irons, artist Brett Whiteley, writer Dorothy Hewett and murdered activist Juanita Nielsen.</p>
<p>“We used to be open 24 hours,” says Italian émigré Bianchi. </p>
<p>His café is now up for lease through agent Ron Danieli with hopes that someone will keep it running as a coffee shop.</p>
<p>The lease is around $500 per week, plus GST and outgoings.</p>
<p>The café opened first in the 1940s and in its current form as the Piccolo Bar in 1952.</p>
<p>After Bianchi suffered a heart attack, a triple by-pass in 2014, and then suffered a bout of cancer last year, his niece-in- law Tina Newton-Carra took over the cafe.</p>
<p>Bianchi still dropped in regularly to chat to his regular loyal clientele, and take a turn on the coffee machine.</p>
<p>Now she wants to work full-time on her new business, creating a same-sex online wedding directory, OneLove Wedding Directory.</p>
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j.ballantyne1990-6AQqhLzZaK

Piccolo Bar, Kings Cross, closing after 65 years

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<p>Australia Finance Group chairman Tony Gill and wife Camilla have quietly sold their penthouse in the Altair building at Kings Cross for $7,825,000.</p>
<p>They paid $5.2 million in 2013 having downsized from their Castlecrag waterfront that sold for $8.5 million.</p>
<p>Set atop the award-winning Engelen Moore's designed Altair building, the penthouse has 240 degree views from the 19th level.</p>
<p>It has 215 sqm of internal living space with three bedrooms and two bathrooms. The master bedroom has its own dressing room and ensuite.</p>
<p>A 185 sqm L shaped terrace looks out across the city skyline to the Sydney Harbour.</p>
<p>Richardson &amp; Wrench agents Jason Boon and Geoff Smith sold the apartment which was first sold in 2000 at $2.5 million.</p>
<p>Gill has been the chairman of the AFG board since 2008.</p>
<p>This article first appeared in the Daily Telegraph.</p>
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firstname1-iYD4UYzvBa

Australia Finance Group chairman Tony Gill sells Kings Cross penthouse

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<p>The infamous Bourbon nightclub in Kings Cross is set for demolition following a redevelopment proposal for a $47 million luxury eight storey apartment block.</p>
<p>It would be the end of an era for the standalone hotel that comes with more folklore than any other in Sydney since being opened in 1967 by Bernie Houghton.</p>
<p>The <span class="m_-4462631763877072612gmail-il">Bourbon</span> premises, initially the haunt of US servicemen on R&amp;R, then colourful underworld Sydney identities, more recently had a reputation for late night sporting star fistacuffs as it was among Sydney's first seven days 24-hour licenced premises.</p>
<p>It was in the late 1990s when cricketer Ricky Ponting, four years after his Test debut, was involved in a fight which left him with a black eye. Drag queen Carlotta happily gave her insights into the night to the inquiring news hounds.</p>
<p>"Everyone who drank there has a Bourbon &amp; Beefsteak story," writer Paul Ham once suggested, adding Ponting's "sobering experience helped put the young cricketer back on the path to greatness."</p>
<p>Local novelist Louis Nowra wrote that between 1988 and 1996 the Kings Cross police were called to the venue no fewer than 550 times.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/19/KC.jpg" alt=""></p>
<p>(Source Sydney City Council Archives)</p>
<p>But having spent $66 million on his substantial five building site amalgamation, developer Sam Arnaout isn't sentimental instead seeing himself as the king of the emerging residential rejuvenation of the Darlinghurst Road strip. </p>
<p>The only nod to the past in the proposed plans was keeping the curved facade of the former 1965 Les Girls hotel, in accordance with Sydney City Council's determination of its supposed significance.</p>
<p>Arnaout's Iris Capital proposes 83 apartments and 101 car parking spaces, plus retail premises and two licensed bars. It is proposed the reincarnated Bourbon will have up to 400 patrons and the Empire some 920, as it the mixed use application seeks to navigate the twin outcomes of liquor outlets and quiet residential living.</p>
<p>Residents point out the nearby Rex, on the other side of the fountain, did not keep its barn style liquor outlet in its residential redevelopment by the O'Neil family.</p>
<p><span>Chris Corradi</span><span>, the Sydney City Council area planning manager, gave Iris Capital pre-application advice on t</span>he proposal that seeks:</p>
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<p><span class="m_-4462631763877072612gmail-il">Arnaout</span> now controls the expanded northern entry of the Cross, from the Fountain Cafe at Kingsley Hall on Barncleuth Square through to the Empire Hotel on the Roslyn Street corner, but he missed out on securing the Lido building which would have made the site rectangular. His site is 2500 sq m.</p>
<p>The proposal also sees the demolition of the adjoining former Sydney Swans Club.</p>
<p>Arnaout seeks to increase the site density. The current floor area is 5856 sqm. The application seeks an extra 1865 sqm, taking the density to 6936 sq m. </p>
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<p><span>There is currently some 656 sqm </span><span>of retail floor area on the site and a further 5,200 sqm </span><span>of pub floor area associated with the two licensed premises. The Bourbon is currently 4000 sq m space. It proposes the new liquor premises will have a combined </span>1,280 sqm space.</p>
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<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/19/FAC1.jpg" alt=""></p>
<div>Residents are likely to strongly oppose the demolition of the heritage buildings dating back to 1896, <a href="https://online.cityofsydney.nsw.gov.au/DA/IndividualApplication?tpklapappl=1332824" target="_blank">but have only until January 24</a> to lodge submissions to the council.</div>
<p>The Greenland development group bookend the nightclub strip where the Crest redevelopment, Omnia is under construction with the Chinese developer having secured an $11 million penthouse sale, highlighting the potential of the rundown location.</p>
<p>Arnaout had owned that site too, but flicked it.</p>
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<p>Arnaout bought the Bourbon for $24 million from publican Christopher Cheung who said the lockout laws had influenced his decision to sell the property.</p>
<p>The proposed apartment block has been a collaborative design by SJB Planning, Urbis Heritage and Woods Bagot Architects. </p>
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Last drinks for Bourbon at Kings Cross with eight storey apartment redevelopment plans

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<p>A Woolworths Metro has become the anchor tenant of Greenland Australia’s $320 million Omnia apartment building in Kings Cross.</p>
<p>It is in the final stages of completion.</p>
<p>Positioned on level one of Omnia’s podium level, the Woolworths Metro will be joined by seven other retail spaces on the ground floor, which are currently available for lease.</p>
<p>Greenland Australia’s managing director, Sherwood Luo, said the Woolworths Metro store underpinned Omnia’s key points of difference - convenience.</p>
<p>Luo said the group is now targeting premium bar and restaurant operators for the ground floor retail tenancies.</p>
<p>Located on the Victoria Street and Darlinghurst Road corner, adjacent to the iconic Coca-Cola sign, the Woolworths Metro will be open from 6am until midnight seven days a week.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/1/woolworth%202.jpg" alt=""></p>
<p>Justin Nolan, the Metro, Woolworths general manager said the customers were "looking for food they can either eat now on the go, or later, along with a convenient grocery shop".</p>
<p>Woolworths will retain its Macleay Street, Potts Point store.</p>
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Woolworths Metro opens at Omnia, Kings Cross

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<p>The popular Kings Cross watering hole Gazebo Wine Bar &amp; Dining has been listed for sale</p>
<p>One of Sydney's original wine bars, Gazebo sits on the fringe of Elizabeth Bay and Potts Point at <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-elizabeth+bay-503121426" target="_blank">2 Elizabeth Bay Road.</a></p>
<p>Its name derived from the Gazebo Hotel, which opened its doors in the late 1960s. Back then the ground level bar was named Pavilion.</p>
<p>The hotel closed in the 1990s and was sold off as residential apartments in 2005 after a four year conversion of the 18 storey tower nicknamed 'the corncob.</p>
<p>There was an $8 million sale in 2014 when Anthony Frogatt, the vice president of the Brewers for Europe, <a href="https://www.urban.com.au/expert-insights/buying/34224-syd-fischer-sells-8-million-gazebo-elizabeth-bay-apartment" target="_blank">bought the whole floor apartment</a> of Syd Fischer.</p>
<p>In 2014 The Keystone Group, the former hospitality giant who went in to receivership two years later, bought the bar.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/20/Gaz2.jpg" alt=""></p>
<p>In the 2015/16 financial year, the venue was taking income of over $2 million a year.</p>
<p>The Keystone Group had to offload 17 venues, including the likes of Bungalow 8 and Cargo Bar, citing the lock out laws as partly to blame for their demise.</p>
<p>Gazebo was picked up by Sydney restaurateur Liz Taylor, after a reported $3 million refurb from The Keystone Group over their brief ownership.</p>
<p>Taylor teamed up with seasoned chef Tristian Hope and redesigned the space in 2017.</p>
<p>Knight Frank agents Kate MacDonald and Mike Wheatley are marketing the property.</p>
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