Real estate investment and advisory group AsheMorgan has joined forces with developer Toga Group on development plans for a boutique hotel and retail strip on Oxford Street in Darlinghurst.
Commercial, retail and creative space, along with a 75-room boutique hotel form $200 million plans to revamp the strip.
The pair lodged an application for the city fringe development which includes three heritage buildings and more than 13,000sq m of lettable floor area, in a newly-formed joint venture partnership.
Each of the buildings will range in height from 15-metres to 24-metres above ground. The site sits between Oxford Square and Taylor Square at 56-76, 82-106, and 110-122 Oxford Street in Darlinghurst.
Development plans include 7,600 sqm of commercial floorspace and 1,600sq m of cultural and creative spaces, which AsheMorgan says is part of its future program for creative start-ups and businesses in the local area, along with 2,300sq m of activated ground plane and laneway retail.
The pair say the plans would stir further transformation along the strip, appointing FJMT studio to design the project, known as The Darlinghurst Collection.
The boutique hotel will comprise 75 accommodation rooms and ground-floor retail, and the partnership note that the commercial buildings will include a rooftop extension capturing views to Sydney CBD and harbour.
FJMT studio design director Richard Francis Jones said the design’s concept aims to create a carefully-crafted interplay between the turn-of-the-century heritage buildings and a new series of glass and metal forms that would hover above.
The joint venture partners are also working with the City of Sydney and the site’s neighbours on the renewal of the Foley Street Laneway.
Toga chief executive Fabrizio Perilli said the development aims to contribute to the local economy through integrating creative and cultural start-ups in the area.
“We plan to enrich and grow the community that enjoys Darlinghurst by bringing a range of amenity to the area that will ensure it is thriving day and night,” he said.
Developer and hotel operator Toga is behind the Surry Hills Shopping Village mixed-use residential precinct, while Sydney property fund AsheMorgan is behind the TCB Building in Brisbane’s Fortitude Valley and the Midtown office development in the Queensland capital’s CBD.
The city of Sydney is currently inviting the public to have its say on the future of Oxford Street, the precinct identified as a focal point for a creative and cultural precinct in the council’s City Plan 2036.