News

July 11, 2018 | IN Media Release and News | BY Holly Brennan | 3 min read

AVID Property Group’s (AVID) plan to transform a disused 990-square-metre block on Flinders Street, Surry Hills, into a luxury six-storey residential and retail complex has received development approval from the City of Sydney.

The $60 million, terrace-style project represents AVID’s debut into the Sydney apartment market, with the first sod set to be turned in late 2018.

With four street frontages, the island site – a derelict service station – is a significant regeneration project for the area, establishing a new benchmark for design and amenity.

AVID Property Group CEO Cameron Holt said it will be exciting to see the Flinders St site come to life over the coming months, with the project set to transform the area through sensitive, innovative design.

“We’ve drawn together an award-winning team to craft something quite special here – a project that responds sensitively to its heritage surroundings, where every detail has been designed to build a community – a true sense of place – right in the heart of one of the greatest cities in the world,” Mr Holt said.

“The project will transform a very unattractive and disused site, at one of the key entry corridors to the city, into a thriving lifestyle site with a one-of-a-kind boutique apartment complex that will embody the terrace housing themes of the precinct.”

Just 1.6km from Sydney’s CBD, Surry Hills is continuing to transform with an eclectic mix of cafes, bars, high-end restaurants, entertainment outlets and residential housing styles. Located at 23-47 Flinders Street, the site is in the heart of the precinct – in between Surry Hills and Darlinghurst.

“The Flinders Street site is positioned well with the urban renewal of the Bourke Street precinct and, being just a stone’s throw from the iconic Taylor Square in Darlinghurst, we expect it to be well received in the market,” Mr Holt said.

“As well as its value as a standalone project, this new development gives us a foothold in the Sydney market in a locality with strong market fundamentals, low unemployment and strong economic performance.

“All of these things play to our ambition to expand both our apartment portfolio and geographic footprint,” he said.

The design panel for the project was announced in late 2017, and includes leading architecture firm Scott Carver, SJB Interiors and specialist branding agency, The Property Agency.

The Flinders Street project will consist of 28 apartments – a mix of one, two and three-bedrooms – and will include up to three retail sites on the ground floor. AVID will complete the project over the next two years, when it will be home to around 60 new residents.

For more information on AVID’s developments, visit www.avid.com.au