Sydney’s Orosi Developments has amalgamated a “significant” development site in sought-after Rose Bay.
The full-service developer with in-house architectural and construction capabilities has acquired a number of parcels of land overlooking the Royal Sydney Golf Club for what it says will be the biggest development site in the blue-ribbon suburb.
“It took us two years to put this site together as there were quite a few lots,” Orosi Developments managing director Hamid Samavi told The Urban Developer.
“It was a warehouse, a lot, a block of units, a gym, a mechanics shop, a house.
“Now, it’s the biggest development site, I believe, in Rose Bay, in an area that has been under-developed in the past.
“It’s walking distance to Bondi, looking over the golf course with views of the Harbour. The location is amazing and no one has been able to put a site this size together before, so it is a flagship architectural element we hope will act as a gateway to the Watsons Bay area.”
The sites Orosi amalgamated total 3000sq m and the developer is planning a mixed-use project focusing on residential apartments for downsizers.
It will have “state-of-the-art facilities and curated retail spaces, including a kosher cafe, an organic restaurant and the most iconic wellness centre in Sydney”, according to the developer.
“We’re working on the design and how big the units should be,” Samavi said.
“But we will deliver house-sized apartments, it’s a product for downsizers and it will be our most sustainable project yet.”
The development may be in its early stages but planning is under way.
“Next steps will be to sit down with the Waverley council—we think the Rose Bay community is going to get excited about this project, as it’s the first project this size in the area and it will enhance the whole context and add value to their houses.”
Median house prices in the eastern harbourside suburb range from $3.8 million for three-bedroom houses to $5.3 million for a four-bedroom house, while apartments are priced from $1.2 million for two bedrooms to $2.8 million for three.
Orosi has invested much of its time and development in the Eastern suburbs of Sydney, most recently delivering 18 luxury apartments at South Cronulla, after operating in the area for a number of years.
“But this will be the benchmark in terms of quality and we’re really excited about it,” Samavi said.
