Fortis secures development approval for Spencer Street, Rose Bay

Fortis has secured development approval for 5-13 Spencer Street in Rose Bay from Woollahra Council.

Construction on the project will commence later in the year, offering a collection of 12 two- and three-bed residences with large living, entertaining and outdoor areas. Designed by MHN Design Union, Spencer St is located on a north facing block, enhancing the individual residences’ exposure to sunlight.

Featuring natural stone throughout the space, the building’s form is defined by regular openings, deep reveals, columns and solid panel walls to provide a rhythm of light and shadowed elements in a mix of light textured render and a custom format handmade brick. Each residence will be complemented by private garages, abundant outdoor space and lush gardens, designed by leading Australian creative landscape practice, Dangar Barin Smith. Select ground floor residences will also feature private pools.

“Spencer St is our third residential project in Rose Bay, following The Benson and No.1 Carlisle. The response we have previously had from residents in this neighbourhood has been incredible, with Fortis projects selling out months before completion,” says Charles Mellick, Director, Fortis.

He adds, “Our sales success is a reflection of the robust demand in Sydney’s eastern suburbs, where residents desire luxury living spaces that offer the best of location, amenities and quality. With an expected end value of $94 million, we are confident that Spencer St will be equally well-received by the local community.”

A short walk from Rose Bay village, Spencer St is located on a 2,223 sqm site that consolidates four independent properties. It was acquired by Fortis for $28.5 million in early-2021. The project will be Fortis’ third located in Rose Bay, offering approximately 2,100 sqm of NSA.

Located less than 10 kilometres from the Sydney CBD, Rose Bay is a prominent harbourside suburb that offers a convenient lifestyle. The site itself is a short walk away from the new Harris Farm precinct, and is in proximity to Rose Bay beach and ferry wharf, Royal Sydney Golf Club, Royal Motor Yacht Club and Point Piper Marina. The suburb boasts excellent amenities and is well serviced by transport options.

Pallas Group is the parent company of real estate financier and investment manager, Pallas Capital, and property developer, Fortis. The expected end value of Fortis projects currently under construction or under a planning proposal is $3 billion nationwide.


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