The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
AFFORDABLE HOUSING DEVELOPMENT SUMMIT THIS THURSDAY
AFFORDABLE HOUSING SUMMIT THIS THURSDAY
EVENT DETAILSDETAILS
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
print
Print
ResidentialRenee McKeownFri 01 Dec 23

Ugly Duckling to Swan Plan for Balmain Warehouse

Princeton will build terrace homes on the 73-75 Beattie Street, Balmain site.

Princeton is moving ahead with its $40-million plan to build five terrace homes and a penthouse in one of the few remaining warehouses of a historic Sydney district.

The Sydney-based investment house has signed female-founded Urban Core as head contractor on the project at 73-75 Beattie Street, Balmain. 

The 955sq m site was sold by Belle Living Pty Ltd in 2021 for $12.35 million and settled in April last year. It has dual frontage onto Little Llewellyn and Beattie streets.

Princeton chief executive George Gadallah said they had taken a drone to the site to see what the site’s potential—and decided to close the deal.

“There were more than 200 people interested in the site and we bought it a week before the close of the expressions of interest,” Gadallah said.

“When I first saw the site I loved it—an old warehouse with a lot of history in a suburb that has outperformed the rest of the Sydney market.

“I was pleasantly surprised to discover there were amazing views of White Bay while at the penthouse levels there are views to the city skyline.”

When completed, the project will span 2015sq m across five, three-bedroom terraces and a four-bedroom penthouse with parking through the existing entrances to the site.

grass grows between a 1938 grocery store in Balmain and the roller garage doors on the site.
▲ The 73-75 Beattie Street, Balmain site as it was sold with remnants of the grocery store.

The design would retain the Derrin Brothers grocery signage on its façade. The warehouse was targeted by a grocery heist gang in 1938. The thieves started packing lorries with ₤600 worth of goods, including bacon, eggs, custard powder and preserved oysters, before being disturbed and leaving empty handed.

The 278sq m site next door and its dilapidated garages sold for $2.5 million last year to R & D Beattie Properties, led by Daniel Gattone and Romolo Nigro.

Urban Core’s managing director Dominique Gill said the Princeton project was the kind of building project that made construction attractive in the first place.

Modern terrace homes with yellow in the front ground floor windows to be built in Balmain.
▲ Artist’s impression of the project viewed from Little Llewelyn Street, the design creates modern terrace homes in Balmain.

“I’m sure to those warehouse workers, the idea of female tradies, female contractors and female managing directors would have been unthinkable,” Gill said.

“Entrusting a building site to Urban Core represents a substantial leap towards the transformative change we are pioneering within the industry. 

“We are committed to delivering this project in line with our diversity and sustainability targets and for this job to set a precedent in the industry.”

The Balmain project joins an already strong portfolio for Princeton, including $300 million in residential projects under way. Its development Eurangi, at Bondi Beach, is due for completion next year.

Residentialdo not useAustraliaPlanningPlanningSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Traders in purple Northsea Wollongong EDM
Exclusive

Affordable Housing Bonus Drives Mixed-Tenure Momentum

Clare Burnett
6 Min
Exclusive

Industry Stoush Looms Over Construction Code Pause

Patrick Lau
4 Min
Exclusive

New Wave of Capital Washes Over Evolving Surf Park Sector

Phil Bartsch
11 Min
North Sydney TUD Plus HERO
Exclusive

NSW Housing Fix Tips North Sydney into New Era

Vanessa Croll
7 Min
 GemLife site Currumbin Waters EDM
Exclusive

Pop-Out Apartments Power GemLife’s $450m Vertical Experiment

Clare Burnett
6 Min
View All >
Policy

Roundtable’s Housing Reforms Face Real-World Delivery Test

Vanessa Croll
101 Punt Road Windsor James Park Investments
Build-to-Rent

James Park Investments Plans 399-Unit BtR Windsor Tower

Leon Della Bosca
Woollahra Station EDM
Residential

NSW Plans to Bring Eastern Sydney ‘Ghost Station’ to Life

Clare Burnett
The scheme to complete Woollahra station and rezone to allow 10,000 more homes has not been met with universal support…
LATEST
Policy

Roundtable’s Housing Reforms Face Real-World Delivery Test

Vanessa Croll
5 Min
101 Punt Road Windsor James Park Investments
Build-to-Rent

James Park Investments Plans 399-Unit BtR Windsor Tower

Leon Della Bosca
3 Min
Woollahra Station EDM
Residential

NSW Plans to Bring Eastern Sydney ‘Ghost Station’ to Life

Clare Burnett
4 Min
Residential

Top 5 Developers Building Land Lease Communities in 2025

Shravanth Reddy
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/princeton-plots-balmain-terrace-plans-nsw-sydney