Arrow Capital Partners lodge a DA for $173m St Leonards Development

14 December 2020

Arrow Capital Partners have lodged a DA for the development of 3 buildings site in St Leonards with a total gross floor area of 57,267sqm.

The site at 29-57 Christie Street is located within the St Leonards commercial precinct, on the eastern side of Christie Street between Nicholson Street to the north and east, and Oxley Street to the south.

The land holding is one of the largest sites in St Leonards with a total area of 7,636sqm and is surrounded by high density mixed use and commercial developments.

Arrow Capital Partners acquired the site for $160m in December 2017 with Joint Venture Partners Starwood and Pindan Capital.

The site currently accommodates two commercial buildings, an eight-storey office building on the northern side of the site and a two-storey building tenanted by a Fitness First gym on the southern side of the site.

The proposed development is for a concept DA for the site and a detailed DA for the construction and use of two commercial towers forming Stage 1. A DA for Stage 2 will be lodged at a later period.

Stage 1 will comprise commercial offices;
• Building A – 9,510sqm (8 storeys)
• Building B – 16,395sqm (12 storeys)

Arrow Capital Partners and Starwood also acquired the Zenith Centre buildings in Chatswood in June 2019, investing $438m. Arrow Capital invests in equity and debt opportunities in the Asia-Pacific and European markets, backed by AMB Capital, a Family Offices vehicle for Angela Bennett (one of three children of Peter Wright).