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Toga gets green light to build Surry Hills Village apartment project

Luxury Apartment at SHV

 

 

The latest apartments in Sydney’s hip suburb Surry Hills will nudge $24,000 persquare metre, towards the top end of pricing among city fringe suburbs where dwelling prices are showing little sign of becoming affordable. Residential developer Toga has received council approval to build its latest project,the mixed-use Surry Hills Village, which would include a revitalisation of the current Surry Hills shopping village. The master-planned project would transform the current retail site at the corner of Cleveland and Baptist streets into high-end apartments and townhouses and new retail and commercial office spaces supported by parks, a new public library and a retail laneway. About 154 new homes are slated. Prices will range between an average of $1.03 million for one-bedroom apartments at an average size of 57sq m and $2.87 million for three-bedroom units at an average size of 120sq m. That’s about $18,000 to $24,000 a square metre, which is expensive compared to outer suburbs, where $14,000 a square metre is considered high. But it’s not outlandish given previous Surry Hills records. One of the project’s penthouses has sold, along with about 25 per cent of the project. The project marked a return to the suburb for Toga, which developed the Crown Street Women’s Hospital into the Adina Apartment Hotel in 1994. A Toga spokesperson said: “Toga has long been passionate about this area and (is) honoured to be involved in this significant redevelopment for the inner Sydney area.” The 154 apartments would be spread across six mid-rise buildings. In its official first stage launch, 55 units will be released.

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