Iris Capital Forges Ahead with Potts Point Masterplan

Iris Capital’s plans in Potts Point are moving along with the developer finessing the Darlinghurst Road masterplan.

The inner-Sydney mixed-use project at 18-32 Darlinghurst Road incorporates a row of five multi-storey buildings across the 0.25ha site. 

The developer confirmed it had lodged minor amendments that included apartment amalgamations and purchaser amendments.

The buildings will be refurbished and renovated to create 48 apartments and about 60 hotel rooms for a 10,000sq m floor area.

The five include the Lowestoft, built in the 1890s, which will be renamed Sovereign while next door the three-storey Regent and its Bourbon Bar will be restored.

Further down the road, a pair of post-war houses will be adapted into another apartment building, Monarch. The Commodore, built in 1928, will become The Consort.

At the end of the row the building that is the former home of the Carousel Lounge and Palladium nightclubs will become the last apartment building, The Empress.

▲ The site is on the border with Kings Cross, east of the CBD. Image: NearMap

Architects Tonkin Zulaikha Greer and Panov-Scott have designed the redevelopment plans for the project. 

There will be a mix of one, two and three-bedroom apartments and four basement levels.

Two pubs, a medical centre, gaming room and end-of-trip facilities will be included in the project as well as with 40 residential carparking spaces.

Two car share spaces, 8 motorcycle parking spaces, 12 hotel parking spaces, 54 bicycle storage spaces, two retail parking spaces and eight medical centre parking spaces are also part of the project. 

Iris Capital was started in 1995 and has a portfolio with more than 2500 luxury apartments, three vineyards and 60 hotels across the country.

The developer has major developments under way at Broadbeach in Queensland, Sydney and Newcastle in NSW, and has unveiled a casino redevelopment in Alice Springs.