An artist’s impression of Winim’s new project at 37-43a Garland Rd, Naremburn.
Hot on the heels of the major announcements about more than $1.5 billion worth of new commercial developments in North Sydney come two new residential projects in the area.
Sydney property fund manager WINIM has been given the green light to develop 17 luxury terrace homes at 37-43a Garland Road, Naremburn.
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The project is the group’s third residential development on the north shore, and joins OTTO Cremorne and The Terraces Willoughby.
WINIM’s joint managing director Josh Leahy said the Naremburn project would be aimed at owner occupiers.
He said the massive commercial investment in North Sydney and its surrounds, as well as the new metro and beaches links would be a major boost for suburbs like Naremburn.
“Naremburn is a bit of a hidden suburb,” he said. “Buyers want to be close to all these things (trains, buses, retail and restaurants) but they don’t want to be right in the heart of it.”
Prices have yet to be set for the terraces, but are expected to start around $2,750,000.
An artist’s impression of Winim’s new project at Naremburn.
Mr Leahy said the company had plenty of confidence in the area.
“Sydney’s lower north shore is a key part of our residential strategy to develop premium,
bespoke, well-conceived owner-occupier projects featuring exceptional design, located in
prime tightly held pockets such as Naremburn,” he said.
“As our third residential project to get underway on the lower north shore, Naremburn is a
significant landmark project which will greatly contribute to the undersupply of premium
owner-occupier dwellings in the suburb.
“These terraces are extremely generous in size with house-like proportions, direct internal
access to basement carparking and additional multipurpose rooms. All have north facing
aspects, large external areas and gardens, and immediate access to Bicentennial Reserve.
The bus stop at the end of the street offers an express non-stop service to the CBD.”
Mr Leahy said he expected the development would be highly sought after by families, resizers or those looking for a luxury house-size property with minimal maintenance and state of the art finishes.
Meanwhile, Colliers International have sold an entire residential apartment block as one mixed-use development site, at 45 McLaren St, North Sydney.
An artist’s impression of a potential concept design for the development of 45 McLaren St, North Sydney.
The deal, reported to be worth more than $55 million, involved 18 apartment owners.
Colliers agents Eugene White, Henry Burke and Guillaume Volz facilitated the sale to Podia, which is planning a mixed-use residential and commercial/retail development on the 1792sqm site, which is located 100m from the future Victoria Cross Metro station.
An artist’s impression of Lend Lease’s Victoria Cross development in North Sydney.
Mr Volz, Colliers’ national director of development site sales, said the sale was structured to a planning outcome that could achieve a substantial result for the strata owners.
“The sale continues the Colliers success with strata amalgamations that has resulted in representing over 300 owners in the last few years,” he said.
“They take a little bit of extra effort, however, if owners follow the process they can deliver outstanding results. It is not uncommon for owners to more than double the existing market value of their properties.”
Michael Grassi, Podia’s director of property and development, said they had big plans for the site.
“Our vision for 45 McLaren St is to create an exceptional architectural and urban design outcome for a mixed-use residential and commercial/retail building matched with a bold aspiration to deliver Australia’s first mixed-use carbon neutral building,” he said.
“We have one of Australia’s leading architects in Bates Smart and reputable town planners Urbis working with us and North Sydney Council to help bring this vision to life”.
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