- Fortis have secured development approval for a $170M Woollahra residential project, comprising of significant restoration and newly built apartments
- Acquired the site for $50M following a 12-month negotiations process with the owners of 14 lots
- Fortis have already appointed several award-winning architects and landscapers to the project, set to commence late 2023
Fortis has secured development approval for a $170 million residential project in the eastern Sydney suburb of Woollahra, after acquiring the site for circa $50 million.
The acquisition represents Woollahra’s largest ever land consolidation with 14 individual lots purchased. Fortis negotiated the deal for 12 months and now owns the largest privately held land parcel in the suburb.
Located at 2A James Street, Woollahra, the project will include the architectural restoration of existing buildings on the site which date back to the late 1800s and early 1900s.
A collection of new two-, three- and four-bedroom luxury apartments will also be built.
The development will be funded by Pallas Capital, a subsidiary of Pallas Group and a sister company to Fortis. Construction is expected to commence in late 2023.
Project to include restoration of existing builds
Fortis Director Charles Mellick said the company is grateful to Woollahra Council and the wider community for supporting their vision for the site.
“We will be preserving the best architectural elements of the site so it can be enjoyed by future generations,” said Mr Mellick.
Fortis has appointed MHN Design Union as the lead architects, Wyer and Co. as landscapers, and local interior architect Pheobe Nicol to the 1900s terrace residences.
Alexander & Co. will undertake the interiors of the new luxury apartments.
The 1800s theatre will be transformed by Melbourne-based Mim Design into a single residence, complete with its own basement, tunnel cellar, courtyard and pool.
Mr Mellick said the development will mark the first time that off-the-plan apartments of this scale will be offered in Woollahra.
“Our aim with this project is to be sympathetic to its heritage and context, ensuring that the existing buildings are restored.”
Charles Mellick, Fortis Director
A new build on the site will feature a collection of premium apartments, bringing together unparalleled quality and premium amenities in a location where apartments are few and far between,” concluded Mr Mellick.
