The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
7
print
Print
ResidentialPhil BartschFri 21 Jan 22

Inner-City Village Hotspot on the Boil

4098c006-9b6a-49be-820f-108e19d2fdcb

Office buildings are set to make way for an apartment development in a sign of the changing times at Crows Nest on Sydney’s lower north shore.

The inner-city village has emerged as a major residential development hotspot in recent times, with cashed-up buyers pouncing on apartment projects.

In its debut development play, boutique local developer Equicentia has put its foot on an amalgamated site close to Crows Nest’s trendy Willoughby Road strip of eateries and bars as well as its under-construction metro station.

The prime holding spans 1250sq m and has been secured in a $24.5-million deal backed by White & Partners, an investment firm and part of the White Family group of companies.

Equicentia is a new Sydney development company established by Ashwin Arumugam and Mitchell Say, who previously worked for China’s state-owned developer Poly Developments & Holdings.

It plans to file a development application in coming weeks for a five-storey mixed-use building with apartments above ground-floor retail on the site at 82-90 Alexander Street.

▲ Equicentia plans to develop a five-storey mixed-use building that will replace four existing two- and three-storey office buildings on the Crows Nest site.


The Alexander Street development will replace four two- and three-storey office buildings currently occupying the parcel.

“We are drawn to central locations with quality transport links that are close to amenity,” Arumugam said.

“Our Crows Nest site ticks all these boxes—it’s as rare as hens’ teeth and the deal took us six months to put together.”

He said the site was acquired off-market with a view to capitalising on pent-up demand from cashed-up downsizers and owner-occupiers.

“The project will look to leverage the property’s prime location adjacent to a soon-to-be created new open space park that will provide a public through-link to the new Crows Nest metro station and the village’s popular bars and restaurants.”

White & Partners capital transactions executive director Ben Kirby said the firm was excited to be partnering with Equicentia on the delivery of it the project.

“The opportunity to acquire a site of this nature in Crows Nest is rare, while the premium location, undersupplied market and strong suburb fundamentals will ensure the project is sought after by a range of purchasers,” Kirby said.

Construction of the underground metro station—which is due to open in 2024 and will reduce the CBD journey into a 5- to 10-minute trip—has been the key catalyst for a resurgence in apartment development in Crows Nest.

Recently, plans also have been put forward by Lindsay Bennelong Developments for a $150-million, four-building development on a nearby 4350sq m site at 25-57 Falcon Street.

And this week the first of three towers planned for above the metro station was approved by the NSW government.

ResidentialAustraliaSector
AUTHOR
Phil Bartsch
The Urban Developer - Writer
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
The Dorcas Street project replaces demolished walk-ups with 131 modern apartments, the first step in a multi-stage redev…
LATEST
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/inner-city-village-hotspot-on-the-boil