ApartmentsPatrick LauThu 28 May 26
Stockland, Aqualand Join Highrise Rush at St Leonards
A pair of towers with a combined yield approaching 100 storeys are on exhibition at St Leonards, adding to the crop of highrise projects springing up on Sydney’s North Shore.
A $665-million Stockland proposal at 601 Pacific Highway (pictured above) is seeking 52 storeys and 538 homes, with gross floor area of 56,880sq m.
At 33-37 Herbert Street, Aqualand is pursuing a 39-storey 413-home tower, on a site abutting the Royal North Shore Hospital precinct.
The 2844sq m Stockland site is about 4.5km north of the Sydney CBD, about 350m walking distance from the St Leonards train station and 450m walking distance from the Crows Nest Metro.
The proposal calls for a floor space ratio of 20:1 covering six levels of basement parking with 300 car spaces, a four-level podium with commercial, retail, and 30 affordable units, and 508 market apartments above.
Meanwhile, Aqualand is showing plans for a 5919sq m site, applying FSR of 7.15:1 in order to yield 42,318sq m GFA.
The Urban Developer understands that a construction cost in the vicinity of $350 million is expected.
An affordable component of 43 homes would be included, as well as 5919sq m of commercial and retail space on ground level and the first floor.
The site is currently zoned E4 for General Industrial use. It is 400m walking distance from the St Leonards train station and 1km from the Crows Nest Metro. The block is occupied by commercial and retail buildings up to three storeys.
The projects join an overhaul of the “worst performing office market in the country” at St Leonards and Crows Nest. The area is awash with residential developments, including those targeted to housing key workers for the hospital.
Elsewhere in St Leonards, Malaysian developer and investor Setia is progressing its 40-storey project at 20-22 Atchison Street.
SEARS have also been issued for a $63-million, 82-apartment tower above the existing heritage-listed Marco building at 583 Pacific Highway. That project is associated with Equitbuild in association with Laanded, the developer established by the Manettas family known for their seafood businesses.
