Iris Capital Plans Sydney Pub Conversion

Iris Capital has lodged plans to convert a Canterbury-Bankstown pub site into a mixed-use development. 

Expected to cost $84 million, the project involves the demolition of The Palms pub at Chullora. 

Iris Capital acquired the site in 2014 from Coles Group for $22.5 million. 

The pub will be relocated elsewhere on the 11,744sq m site at 167 to 183 Hume Highway, Greenacre.

New additions include a 56-key hotel and shoptop building with 37 apartments, and 1459sq m of ground-floor commercial area. 

Three other residential buildings will contain 55 apartments, while there will be basement carparking for 323 spaces, and a new slip road on to the Hume Highway.

The majority will be two-bedroom apartments plus 28 three-bedroom units that the developers said provided for market demand identified in the Canterbury-Bankstown area, namely young and middle-aged couples moving for more affordable housing.

EJE Architecture designed the plans with planning support from Altus Group and Urbis. 

The proposed development will be constructed in three high-level stages to allow for the ongoing operation of the existing pub.

The current pub is a two-storey hotel with sports bar, gaming lounge and function room as well as some short-stay accommodation. 

A planning proposal gazetted by the NSW Department of Planning and Environment in July 2023 paved the way for the site’s current development application. 

That proposal amended the Canterbury-Bankstown Local Environment Plan to increase the number of uses and amend building heights and floor space ratios.

Development and hospitality group Iris Capital has been active this year, listing a DA-ready Coffs Harbour pub as well as a 104-key Newcastle hotel, and lodging plans for a mixed-use development to replace The Kingswood Hotel at Penrith.