Development in Double Bay

While the Sofitel Woolworths project has fallen over, the new boutique redevelopment has generated strong interest, due largely to its position in one of Double Bay’s most prominent locations, on the corner of New South Head Rd and Knox St, site of the old Westpac building. Double Bay, in Sydney’s eastern suburbs, has an enviable reputation as one of the city’s premium Retail precincts, Boosted by the high net worth incomes of residents.

Inquiry off-market and Colliers international’s Stephen Bowrey said there had been significant inquiry off-market and Colliers was already talking to a number of parties. ‘’While some doomsayers have been saying Double Bay is dead, the level of interest so far has been extremely encouraging.’’ Discussions were talking place with national and international brands for the retail space, and a major institutional organisation was considering upper floor commercial space. In addition, Bowrey said the building held the added attraction of potentially being the eastern suburbs first ‘green’ commercial building.

Developers Joshua and Lesli Berger from Fivex Commercial Property said green features, such as rain water facilities and environmentally sound building materials, were a key requirement of a green building design. “we are aiming for a 5 green star rating which is not available in any other commercial or rental premises I the local area,’’ Lesli Berger said.

The complex was designed by Eeles Trelease, who designed the Sydney Olympics athlete’s village accommodation. There will be about eight small boutique style shops in the finished building when it opens early next year. The redevelopment is a major fillip for Double Bay, which has not seen much in the way of new development in the recent years.
Inside Retailing Weekly

Lyn White 26 May, 2006