Fortis secures development approval for third Rose Bay apartment development
The national property developer, Fortis, has been given the green light by the Woollahra Council to go ahead with their luxury apartment development on Rose Bay's Spencer Street.
The development of 12 apartments at 5-13 Spencer Street is the group’s third project in the area.
Construction is expected to commence later in the year, delivering a collection of two and three-bedroom apartments, boasting large living, entertainment and outdoor areas.
Designed by MHN Design Union, the Spencer St project will feature natural stone, with the building’s form defined by regular openings, deep reveals, columns and solid panel walls that provide rhythm of light and shadowed elements through a mix of light textured render and a custom format handmade brick.
Located on a north-facing block, residences will bask in natural light, each complimented by private garages, expansive outdoor areas and lush gardens, designed by leading Australian creative landscape practice, Dangar Brian Smith, with select ground floor apartments featuring private pools.
“Spencer St is our third residential project in Rose Bay, following The Benson and No.1 Carlisle. The response we have previously had from residents in this neighbourhood has been incredible, with Fortis projects selling out months before completion,” says Charles Mellick, Director, Fortis.
Spencer St is the groups third residential project in Rose Bay, following The Benson and No.1 Carlisle, with Fortis Director, Charles Mellick saying the response from previous residents in the area has been incredible, with Fortis projects selling out months before completion.
“Our sales success is a reflection of the robust demand in Sydney’s eastern suburbs, where residents desire luxury living spaces that offer the best of location, amenities and quality. With an expected end value of $94 million, we are confident that Spencer St will be equally well-received by the local community,” he added.
Just a short walk from Rose Bay village, Spencer St lands on an amalgamated 2,223 sqm site that consolidates four independent properties, which was acquired by Fortis for $28.5 million in early-2021.
Located less than 10 kilometres from the Sydney CBD, the Rose Bay site is just a short walk away from the new Harris Farm precinct and is in proximity to Rose Bay beach and ferry wharf, along with the Royal Sydney Golf Club, Royal Motor Yacht Club and Point Piper Marina. With a wealth of nearby recreational amenity, Rose Bay is also well serviced by a string of public transport options.
Pallas Group is the parent company of real estate financier and investment manager, Pallas Capital, and property developer, Fortis. The expected end value of Fortis projects currently under construction or under a planning proposal is $3 billion nationwide.