- Fortis awaiting approval to extend the existing 21-27 Bay Street approval to include newly acquired 19 Bay Street
- Plan to develop a $130M five-storey retail and commercial hub, named Jubilee House
- Project only one of multiple Fortis Sydney developments in the pipeline, with an expected end value of $1.25B
Fortis Development Group has acquired another Double Bay site for $10.6 million, with plans to develop a first-class commercial and retail space.
The company’s latest acquisition was 19 Bay Street, after purchasing the adjoining 21-27 Bay Street lots in April for $38.5 million.
Plans to amalgamate sites to develop ‘Jubilee House’
Fortis plans to combine the sites to develop the commercial and retail space, named Jubilee House, capitalising on the already established commercial precinct of Bay Street.
Approval for a five-storey commercial building on 21-27 Bay Street has already been granted, and Fortis intends to apply to extend this to 19 Bay Street.
Spanning over 3,180sqm of net lettable area, the planned five-storey development will dedicate the ground floor to retail space.
Among the development’s several attractive features are extensive ground floor activation, dual street frontage to Bay Street and Gum Tree Lane, expansive floor plates, first-rate amenities and multiple outdoor terraces.
Abundant parking space is also a priority, with bicycle, motorcycle and car parking planned for four basement levels.
Works scheduled for late 2022
Woollahra Council received Fortis’ amended project plans this month, with construction to commence late 2022 following approval by the Council.
Fortis have already appointed architectural firm MHN Design Union and landscaping professionals Dangar Barin Smith to the Jubilee House project.
Fortis Director Charles Mellick said Jubilee House will mark the group’s fourth Double Bay commercial project, which he expects to be just as well-received.
“Our latest acquisition on Bay Street gives us the opportunity to respond to the consistent demand for premium commercial space that we have seen in Sydney, especially in city-fringe locations.”
Charles Mellick, Fortis Director
“We look forward to delivering a superior product with exceptional amenities and features to the local community,” said Mr Mellick.
Fortis making their mark in Sydney
Double Bay is an upscale suburb located just four kilometres from the Sydney CBD.
The trendy spot is known for its high-end restaurants, boutiques, retailers, cafes and beauty salons.
The area is in close proximity to the Double Bay ferry wharf, and only a 10-minute walk from the Edgecliff train station.
Fortis is extremely prominent in the Sydney development scene, with $1.25 billion in project value currently under construction or in the planning phase.
A further $1 billion in developments are also in the works for Melbourne.