Oxford Street & Sale of City of Sydney Properties

DRAG, Oxford St

Overview: Herald Investigation, Oxford Street.
At https://www.smh.com.au/interactive/2014/oxford-street/ 

Top 10 Landlords on Oxford Street (City of Sydney and Wollahra Council areas)

  1. City of Sydney
  2. Theo Onisforou
  3. Greek Orthodox Community of NSW
  4. Overseas Telecommunications (Telstra exchange)
  5. Sullivan family, Arts Hotel and Arts Bar
  6. Lourandos family, four properties in Paddington
  7. Notaras family, six properties in Paddington
  8. Gwynvill Group, Tieck family, four properties in Paddington
  9. Robert Bleakley, Palace Verona
  10. Justin Hemmes, Paddington Arms and two more properties in Paddington

City of Sydney Properties Recent Purchases
2019: Customs House – “to keep in public hands” [25 years in on a 60 year lease]

City of Sydney Properties Recent Sales
2016: CSC sold T2 building at Taylor Square once talked about for GLBTIQ Museum / Museum of Mardi Gras. Council paid $7 million for the building in 2010 to serve as a bicycle hub..
2019: 56-76 Oxford Street Darlinghurst. Sold to Ashe Morgan, a large real estate investment and advisory group.
Description: 56 to 76 Oxford Street comprises 6 properties from Zinc Tailors to Crown St - an architecturally consistent group of six three-storey brick, Federation freestyle commercial buildings. All heritage items on CSC LEP 2012 – Map sheet HER-15)
2019: 82-106 Oxford St Darlinghurst. Sold to Ashe Morgan.
2019: 110 – 122 Oxford St Darlinghurst. Sold to Ashe Morgan.

2020: Development Application
Submitted by Ashe Morgan and Toga Group (developer) who want: Each of the buildings will range in height from 15-metres (6 storeys) 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 Ashe Morgan 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.
Architect: Richard Francis Jones, Design Director of fjmtstudio. FJM Studio claim: “Our concept is to create a carefully crafted interplay between the beautiful turn of the century heritage buildings and a new dynamic series of glass and metal forms that hover above”.See: https://theurbandeveloper.com/articles/toga-ashe-morgan-lodge-da-for-sydneys-oxford-street and https://www.afr.com/property/commercial/facelift-plans-for-iconic-sydney-shopping-strip-20201019-p566ez and
https://www.buildaustralia.com.au/projects/toga-and-ashemorgan-lodge-da-for-oxford-street-sydney/ 

 

DRAG, Oxford St, Sydney

 

Part 2 — Planning

City of Sydney - Strategic Review of Oxford Street
To encourage “clustering of creative spaces” / Planning rules can help support more cultural, creative, entertainment and late-night activities / we have identified Oxford Street as the focal point for a wider creative and cultural precinct in our local strategic planning statement City Plan 2036.

Public Consultation: Project Status: Under review
Contributions to this consultation are closed for evaluation and review. The public consultation was a generic “write a love letter” type. The project team will report back on key outcomes. Public consultation period 6 October 2020 to 3 November 2020
See: https://www.cityofsydney.nsw.gov.au/strategic-land-use-plans/city-plan-2036 

 

DRAG, Oxford St, Sydney

 

Part 3: Related Sales on Oxford Street

Taylor Square:
Kinselas and the nearby Courthouse Hotel have both been purchased by Moelis Australia Hotel Management, which owns 32 pubs across New South Wales and Brisbane.
The Courthouse was sold for $22 million in November and Kinselas sold for $45 million on December 9. The new owners plan to merge the two Taylor Square venues together, creating a large ‘super pub’ complex with accommodation and rooftop harbour views. See: https://www.smh.com.au/business/companies/taylor-square-set-for-revival-after-67m-kinselas-courthouse-pub-sales-20201209-p56m23.html 

Academy Twin Cinema:
At the five-way intersection of Oxford Street, Victoria Street and South Dowling Street. DA lodged August 2020.
See: https://www.commercialrealestate.com.au/news/former-academy-twin-cinema-in-paddington-to-be-transformed-into-boutique-hotel-984419/

 

 

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