Surry Hills

Leading Australian property developer, TOGA Group, has been awarded a 4.5 out of 5 Gold Star rating by the new Independent Construction Industry Rating Tool (iCIRT), following a rigorous assessment.

The ratings tool has been launched to rebuild public trust and market transparency in residential 
construction as part of the NSW Government’s Construct NSW Transformation Strategy.&nbsp;

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The award makes TOGA one of only three developers to be awarded a 4.5 Gold star rating and is the highest rating achieved by a developer so far.

While the independent assessment by Equifax is currently voluntary, developers and builders must meet the minimum average of three out of five stars or above to be deemed “trustworthy” and be included on the public register, along with a Gold, Silver or Bronze star indicator.

TOGA’s Managing Director, Allan Vidor said ultimately, the rating is a testament to the group’s dedication to delivering the highest quality outcomes for customers in every aspect of their developments.

“Buyers can be confident, trusting that TOGA has passed the test and has the capital, the experience and the capability to create homes and residential communities that will last,” Vidor said.&nbsp;

[smartcode_project:default project_id=9302 project_image_fid=188222]

Builders and developers undergo a rigorous review process, with the assessment evaluating them across six specific criteria including character, capability, conduct, capacity, capital and counter parties, in addition to historical results.

“This is a game changer for homebuyers and the industry,” Vidor said.&nbsp;

“A home is one of the most significant investments Australians make, so it’s vital to be able to trust the developers, builders and industry that create these assets. We stand by what we build and deliver at TOGA, and suggest all consumers who are on their property journey to review the iCIRT listing as part of their research.”&nbsp;

TOGA’s strong iCIRT rating was supported by a range of factors, including its tenure and long-history of successful development in Australia, operational and customer transparency, significant repeat and loyal customer base, partner and supplier relationships, and the in-house skills, the level of technical expertise and engineers within the team.

[smartcode_project:default project_id=9302 project_image_fid=188221]

NSW Building Commissioner, David Chandler OAM, said, iCIRT was introduced to not only set a new standard but to also give property buyers the confidence the builder or developer they’re looking to buy from is a trusted party.&nbsp;

“There’s no denying the reputation of the industry has taken a hit in recent years. The iCIRT rating system was introduced to rebuild trust and acknowledge those in the industry, like TOGA, who are doing the right thing. Congratulations TOGA for setting the benchmark for best practice,” Chandler said.&nbsp;

“As I get to know more of the increasing community of iCIRT rated developers and builders, a common theme is emerging. The first is that customers are at the centre of how they do business,” he said.

“The second is the ingrained integrity that these companies strive to build to underpin how they deliver buildings.”

[smartcode_project:default project_id=9302 project_image_fid=188219]

iCIRT currently rates builders, developers and certifiers on a voluntary basis. In due course, designers, manufacturers and suppliers will also be able to be rated. Consumers will also be able to rate industry professionals.&nbsp;

[smartcode_project_cta:default project_id=9302]

The award makes TOGA one of only three developers to be awarded a 4.5 Gold star rating and is the highest rating achieved by a developer so far.

alisonwarters@gmail.com

TOGA Group awarded 4.5 Gold Star rating under new iCIRT 

The New South Wales developer TOGA Group have officially broken ground at their long-awaited redevelopment of the Surry Hills shopping centre.

To be known as Surry Hills Village and due for completed in early 2024, the mixed-use development and precinct on the corner of Cleveland and Baptist Street will home 122 apartments and a 102-room hotel, as well as 12,000 sqm of commercial and retail spaces.

<a href="https://www.urban.com.au/new-apartments/surry-hills-village-399-cleveland-street-redfern"><img alt="" height="1167" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/toga_precinct_1.jpg" width="1600" /></a>

SJB have designed the development in collaboration with development partners Iain Halliday and BKH, Aspect Studios director Sacha Coles and Studio Prineas architect and principal Eva-Marie Prineas.

The 12,000 square metres of commercial and retail spaces that will feature a Coles supermarket, specialty retail and parking for retail customers.&nbsp;&nbsp;

<a href="https://www.urban.com.au/new-apartments/surry-hills-village-399-cleveland-street-redfern"><img alt="" height="813" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/toga_precinct_2.jpg" width="1800" /></a>

Around 50 per cent of the 122 apartments have sold. Apartment start at $875,000 for a 55 sqm, one bedder.

The 81 sqm two bedroom apartments are priced at $1.55 million and the 122 sqm three bedder is priced at $2.65 million.

There&#39;s been a mix of buyer types, from locals to&nbsp;international buyers who will be moving in once they&rsquo;re able to return home.

<a href="https://www.urban.com.au/new-apartments/surry-hills-village-399-cleveland-street-redfern"><img alt="" height="857" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/toga_surry_hills_3.jpg" width="1600" /></a>

The groundbreaking ceremony marked&nbsp;around five and a half&nbsp;years since TOGA paid nearly $95 million for the 1.2 hectare site in mid-2015.

TOGA managing director Allan Vidor AM was joined by Redfern local and Sydney&nbsp;Lord Mayor Clover Moore at an official ceremony marking milestone.

[smartcode_project:default project_id=9302]

Mr Vidor said the ground breaking marks the start of the much-anticipated regeneration of the iconic site. &nbsp;

<blockquote>
&nbsp;&ldquo;We are very proud to be leading the transformation of this important site that will be a catalyst for the future shape of Sydney&rsquo;s inner city. Our vision is to deliver a precinct that will celebrate the authenticity of the neighbourhood whilst also bringing the energy of new people and businesses to the suburb.&nbsp;

&ldquo;For our future residents, locals and visitors, we are creating a destination that will enrich the area, with exceptional dining and bars alongside some of Sydney&rsquo;s best providores within a new retail laneway, commercial office building and public park. In addition, the precinct will include a boutique 102 room hotel with roof top pool and bar making Surry Hills Village a truly unique, once in a generation project that the community will enjoy for many years to come&rdquo;.&nbsp;
</blockquote>

<a href="https://www.urban.com.au/new-apartments/surry-hills-village-399-cleveland-street-redfern"><img alt="" height="1180" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/groundbreaking_toga.jpg" width="1800" /></a>

Lord Mayor Clover Moore said, as a Redfern local, she welcomes the revitalisation of the old Surry Hills shopping centre,&nbsp;bringing new life to the area and better serving the needs of the people who are living here.

Adam Haddow, SJB Architects director and a Surry Hills local, says because of the location of Surry Hills Village,&nbsp;near SJB&#39;s office, the team are hugely passionate about the significant project and the opportunity it presents for the neighbourhood.

&ldquo;Paying homage to the history of the site and building, while ensuring a blend of retail, residential, hotel and commercial space that feels at one with the street environment was a priority. We set out to revitalise the site and to create a space that locals can be proud of.&rdquo;

SJB have designed the development in collaboration with development partners Iain Halliday and BKH, Aspect Studios director Sacha Coles and Studio Prineas architect and principal Eva-Marie Prineas

Joel Robinson

Surry Hills Village plans finalised as TOGA officially break ground

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A Surry Hills development site with stage 1 approval for Hotel/Residential Apartments/Retail development has sold for $33 million off market.

Situated at 232 - 240 Elizabeth Street, currently home to Restaurant Rush and other stores, the holding sits on a 905 sqm plot.

Cornering Elizabeth &amp; Reservoir Street it is opposite Central Station.

The stage 1 concept approval for the demolition of existing buildings on the site and the construction of a 2 level basement car park and mixed use building containing residential, hotel and retail uses was approved in July 2017.

It is located just along from The Golf House development at 228A Elizabeth Street.

Daniel Marano from Oxford Agency managed the selling of this property off-market on behalf of an overseas client.

There is no sign yet as to when the new developer will move to seeking approvals and then marketing.

<h2>Other developments in Surry Hills include:</h2>

<a href="https://www.urban.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills?ref=srp_listview">The Rathbone</a>

Address: 23-47 Flinders Street, Surry Hills NSW 2010

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rathbone_0.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="300" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/rathbone_0.png?itok=qpraZ1N-" width="580"></a></figure>Set for completion in 2022, only 33 one, two and three bedroom single apartments and double storey bespoke terrace apartments will be offered.

Prices range from $1.295 million to $2 million.

The Surry Hills development was designed by Scott Carver and constructed by Deacon Construction.'

<a href="https://www.urban.com.au/new-apartments/the-surry-421-423-elizabeth-street-surry-hills?ref=srp_listview">The Surry</a>

Address: 421-423 Elizabeth Street, Surry Hills NSW 2010

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_surry.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="382" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_surry.jpg?itok=RGONuzO7" width="580"></a>

The Surry is a 5-storey apartment development with retail space on the ground floor.

Cadmium’s latest project, is a unique boutique collection of 24 apartments, and they are once again working with Candalepas Associates,

Designed by award-winning architect Angelo Candalepas, it features one, two and three bedroom apartments as well as executive apartments on every level. Plus an expansive landscaped rooftop designed by 360O.
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Daniel Marano from Oxford Agency managed the selling of this property off-market on behalf of an overseas client

urban.com.au

Surry Hills development site sold off market for circa $33 million

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Sydney may have forgotten Natalie Jean Wood. But Real Estate Agents haven’t forgotten to underquote; when it comes to auctioning a property.
I definitely have something to say about what I perceived may well be, blatant underquoting strategies used in the marketing of the Surry Hills property: 139 Kippax Street, <a href="/expert-insights/buying/50300-surry-hills-terrace-listing-of-the-women-sydney-forgot" target="_blank">the home once owned by Natalie Wood</a>.
It will take more than a coffee to calm me down, particularly after my client spent $4,000 doing Due Diligence (DD) prior to the auction.
The price guide that was given to me and other interested parties I spoke with at the time, was: $550,000-$650,000.
First cab off the rank, and to immediately dispel any misconceptions you may have. Misconceptions about me being a disgruntled buyer’s agent and particularly since I didn’t purchase the property, on behalf of my client.
<ol start="1">
<li>Part of the DD we undertook revealed that land in the area was worth approximately $10,000-$11,000/sqm.</li>
<li>There was some value in the building regardless of what the refurbishment works would cost, and</li>
<li>We were under no illusion that we would obtain the home for the lower end of the price guide which was given.</li>
</ol>
It’s not rocket science
It’s not rocket science to work out property (price-guide) values that are closer to true market values. To ascertain these we look at the following:
<ol start="1">
<li>Land value as compared to other sales in the local area.</li>
<li>Value of existing structure/building (taking into account what is required or not required to be altered, changed or fixed) and integrity of existing structure.</li>
<li>Aesthetic values including but not limited to: visual appeal, location, heritage, charm or story behind the property, views and surrounding landscape and demographics.</li>
<li>Calculate costs to repair/refurbish/build and compare with current properties on the market and recent property sales. properties that would be of similar ilk.</li>
<li>If still in doubt? call a professional valuer for their opinion.</li>
</ol>
Therefore, for an agent or agency to hide behind the worn and dated argument of “no comparable sales” is just sheer ignorance or intentional use of sleight of hand tactics. I have written about these issues previously.
1) The what-if test. 
2) Dumb to underquote and dumber not to know property values.
Dialogue with agency
Correspondence and conversations with the agent, all led us to believe that the agent truly didn’t know the value of the property. On the alternative, we also thought that there may be an underlying driver to draw a crowd. We know the latter to be under-quoting.
If other buyers were going to be persuaded by either one of the above premises, we believed that this would work in our favor.
The low-ball price-guide may actually keep the value of the property low, this is what we presumed anyway. We felt that the low price-guide coupled with the added features of the home; the circumstance of the deceased owner and the dilapidated condition of the property, was a mix that would work in our favor.
Nonetheless, our limit was set at $900,000 and this took into account our estimated land value as well as the intrinsic and heritage value of the property. Yes, and the history that came with the home.
Again, we knew that the agent was off the mark completely. However, the agent insisted that the “buyer’s feedback” was $550,000-$650,000 and with the interest obtained, it may reach the $700,000 mark. I beg to differ.
A professional agent would have done and assessed the value more along the lines of $850,000-$900,000 and thus presenting a correct price-guide. A guide that is not reliant on; “buyer’s feedback” nor left to ignorance. But, I was not engaged to teach them how to do their job.
Don't you just hate it, when you call an agent and ask for the 'price-guide' and they respond with: don't know at this point in time, once we hold a few opens we will gauge the "buyer's feedback". Get real !!! and moving on...
The outcome
Well, my buyer was not successful; as much as I tried to slow things down, there were others that wanted the property at all costs. The home sold for $1,105,000.
One may well say, ‘market forces’ were at play once the auction reached and went beyond the $950,000 mark. 
Warning to agents
Now, if you really want to accept the argument that: any so called out-of-line sale price is influenced by the lack of comparable sales to go by and play the ignorance card, or even take ill advice from vendors? Perhaps it’s time a Professional Valuer was called in, to assist you.
Obtaining and contracting the services of a valuer, is a better option to support and protect you as you. After all, you are the professional real estate agent. Don't hang your hat on statements such as: "market forces" nor "the vendor made me do it" in the belief that these will protect you from prosecution.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Sydney may have forgotten Natalie Jean Wood, but real estate agents haven’t forgotten to underquote: Edwin Almeida 

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One of Sydney’s most exciting and iconic retailers has bid farewell to the once thriving fashion destination of Surry Hills as the suburb continues its transformation to a food destination. 
Gunning leasing agents, Anthony Tsapicounis and Alberto Da Grava said the iconic retailer Wheels &amp; Doll Baby called it quits after 30 years in the prominent location of <a href="https://www.realcommercial.com.au/property-retail-nsw-surry+hills-502609750" target="_blank">259 Crown Street, Surry Hills.</a>
“A combination of factors has contributed to the change in focus for the area,” they said. 
<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/2018/5/14/wheels2.jpg" alt=""> “Surry Hills has seen a shift from what once was a working class industrial suburb, into a technology and media hub, with specialist food precincts attracting a diverse mix of people.
“The gentrification of the inner city has changed consumers needs and wants. Fashion retailers and in particular the on-street boutique retailers have been severely impacted by the rise of online shopping as well as the renovation of Pitt Street Mall and Bondi Junction. 
“A new 5 x 5 lease to a superfood café chain at a gross rental of $1,000 sqm at 259 Crown Street, Surry Hills cements this trend,” they said.
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j.ballantyne1990-6AQqhLzZaK

Food outlets rule as Wheels & Doll Baby says goodbye to Surry Hills

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A sweeping trend across Sydney's inner east suburbs is the sale of dilapidated terraces.
In need of full renovations of at least a couple of hundred thousand dollars, the homes are still fetching $1.5 million plus.
The latest to hit the market is a <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-126699394" target="_blank">terrace on Reservoir Street</a> that hasn't traded in over three decades.
<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/2018/10/26/a4930537c84b4352b704d18f3431528f.jpg" alt="">
Last sold for $85,000 in 1985, the three level terrace isn't completely run down.
A transformation had begun but was never finished, so there are newer elements to the attic and staircase.
<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/2018/10/26/f7958a499942486cbfd1dfd39d70bb13.jpg" alt="">
BresicWhitney Darlinghurst agents Lincoln Westerman and William Phillips have set a buyers guide of $1.5 million for its November 18 auction.
Last month another <a href="https://www.urban.com.au/expert-insights/buying/76396-surry-hills-dump-sells-for-1-6-million-after-five-days" target="_blank">Surry Hills terrace</a>, in a state of almost disrepair with missing ceilings, sold for $1.6 million in five days.
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jonathanchancellor-7SQnKwU6yx

Another dilapidated Surry Hills terrace hits the market for $1.5 million

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The $60 million makeover set to transform a derelict service station in Sydney into a luxury retail and residential apartment building has been unveiled by AVID Property Group (AVID).
The six-storey project on Flinders Street, The Rathbone, will reference Surry Hills’ past.
AVID Property Group CEO Cameron Holt said the name and the aesthetics were a tribute to the Rathbone Terraces that were a feature of the Surry Hill surrounds in the early 1900s.
“AVID is aiming to achieve a high sustainability score for The Rathbone, which means, where possible, we’ll be including materials with a high level of recycled content, low volatile organic compound paints, natural ventilation, and extensive landscaping,” Holt said. 
<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/2018/9/10/The%20Rathbone%20living%20and%20balcony.jpg" alt="">
AVID anticipates construction for The Rathbone will commence by early 2019, with completion expected mid-to-late 2020.
There will be a number of retail spaces on the ground floor, and 28 luxury apartments.
The project will comprise of one, two and three-bedroom apartments and include single and multi- level designs that will incorporate open plan living areas to make the most of natural lighting.
The project marks AVID’s debut into the Sydney apartment market.
The design team for the project includes architecture firm Scott Carver, SJB Interiors and specialist branding agency, The Property Agency.
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AVID's Sydney debut with luxury Surry Hills apartments

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A converted Surry Hills warehouse has been listed.
The approximately 797 square metres property at 19 Foster Street comprises circa 3,154 square metres of NLA.
The property is 100 percent let, with a WALE of 2.4 years (as at 1 September 2018).
It has dual street frontage to Foster Street and Wentworth Avenue. 
The industrial-style space was refurbished in 2013 with high ceilings, polished concrete floors and exposed brickwork.
It has been listed for sale through Knight Frank’s Jonathan Vaughan and John Bowie Wilson, with Karbon Property’s James McCourt and Joshua Watts, on behalf of Security Capital Australia. 
Vaughan said commercial properties in the area are tightly held.
“Substantial office buildings in Surry Hills are highly sought after by investors as they don’t come to market very often and we are continuing to see an increase in interest in the city fringe, with a number of groups now undertaking active city fringe buying strategies,” Vaughan said.
“Further, the asset’s favourable lease expiry profile and low rental base will provide an incoming owner the opportunity to add significant value by leveraging one of the most sought after leasing markets in the country.
“With opportunities such as these hard to come by and the asset catering to a generational shift in the occupier market, we expect the industrial-style creative space will draw significant interest from local and offshore investors.”
McCourt said the Sydney city fringe area had the lowest vacancy rate of any commercial market in Australia.
“The vacancy rate in Surry Hills has been contracting for three consecutive years as it has become the number on destination for the growing TAMI sector.
“As a result vacancy in the city fringe area was sitting at around 3% relative to 4.6% in the Sydney CBD, as at January 2018. 
“The falling vacancy rate combined with growing demand and limited supply has led to substantial growth in prime rents in recent years.
“This provides the incoming owner with the opportunity to benefit from a substantial reversionary uplift in 19 Foster Street.”
The expression of interest campaign is set to close at 4pm on Wednesday 31 October.
 
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Converted Surry Hills warehouse office building listed

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A mortgagee apartment in Surry Hills has been listed for sale via online auction.
Located at 33/679-695 Bourke Street, the apartment has a small living area, single bedroom and bathroom, and a car space.
The 42 square metre apartment has a small balcony.
It previously sold in 2002 for $280,000.
<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/Subscriber%20strip%20ad.jpg" alt="">
The median unit price in Surry Hills is $819,000.
 
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