Heiress Plots $59m Inner-Sydney Mixed-Use Scheme

The daughter of a billionaire businesswoman is behind plans for a development incorporating commercial, retail and residential components in Sydney’s Redfern. The applicant for the State Significant Development is Shepherd Street Pty Limited. Its director is listed in ASIC documents as Paris Neilson. Neilson’s mother is Judith Neilson, the co-founder of the White Rabbit Gallery in Sydney and a significant shareholder in Platinum Asset Management, a company co-founded by her former husband and Paris ’ father, Kerr Neilson. South African-born Australian investment manager Kerr this week sold his remaining interest in Platinum, the fund manager long considered a shining light in Australia that has experienced a spectacular fall more recently. The Koichi Takada Architects-designed project now on notification aims to redevelop an “underutilised commercial asset”. The buildings on the site, predominantly two-storey warehouses, were reaching the end of the “economically useful” lifespan, Neilson’s application compiled by Urbis said. The site is surrounded by midrise student accommodation, apartments and boarding houses. The target demographics for the Redfern project, dubbed Hudson Vine, are young professionals, long-term renters and large families. The development is proposed for an amalgamated three-lot site at 2-14 and 16-30 Vine Street, and 32-34 Eveleigh Street. ▲ A rendering of the Redfern proposal. The parcel of land is 2.5km from Sydney CBD and 250m from Redfern train station in a suburb that is “growing in stature as a diverse area providing mixed-use development, with new housing and employment opportunities”, according to the proposal. The project would deliver two built forms on the 2405sq m site owned by the Neilson family. On the eastern part of the site, a part two-storey, part six-storey commercial, retail and residential building would deliver 424sq m of ground floor retail with a loading dock off Hudson Street. Also on the ground floor would be a commercial lobby. The first floor would hold 842sq m of commercial space. ▲ A rendering of the Koichi Takada-designed project. In the upper levels, 23 apartments of one to three bedrooms are proposed. The building would share a basement with a part three, part six-storey retail and commercial building on the western side of the site. This second building would have 2754sq m of commercial space on the upper floors, a basement commercial unit at 464sq m, and an outdoor courtyard. The estimated cost of development is $58.9 million. The application said that it would deliver a “high-quality, activated and integrated mixed-use scheme for living and employment opportunities within an evolving strategic mixed-use precinct”. Redfern has attracted a diversity of development in recent years despite its urban density, from 366-unit affordable home plans to proposals that would transform a carpark into a not-for-profit aged-care facility .

Heiress Plots $59m Inner-Sydney Mixed-Use Scheme

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