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Raising The Tone

Residential apartment developer Toga is poised to transform one of Sydney’s most notorious shopping centre complexes, known locally as “murder mall”, into a $400 million-plus luxury residential apartment and retail complex.


Two penthouses in the yet to be built Surry Hills Village complex in inner-city Sydney have sold for $4.5 million and $6 million apiece. Toga development and construction chief executive Fabrizio Perilli says 40 per cent of stage one of the complex has been pre-sold ahead of construction, which begins later this year. Other penthouses soon to hit the market will start from $4.5 million. 

“We have sold the first four penthouses; there will be another four released and they will cost from $4.5 million to $6 million, depending on the size,” Perilli told Mansion. “They will range from 180sq m to 270sqm, with the price reflecting the size. They all have views to the east and west and to the city, and the ability to access very large private gardens.”

Under Toga’s plan for Surry Hills Village, the existing shopping centre opposite the Mounted Police Unit will be demolished, paving the way for a mix of one, two, three and four-bedroom apartments, as well as a string of townhouses and penthouses. The townhouses will feature gardens while the penthouses will offer city views.

The 2½-level terraces, with three bedrooms and two bathrooms, fronting Marriott Street will be priced from around$3.5 million.
“We are looking at starting to build in the fourth quarter of this year,” Perilli says. “We are waiting to see things getting back to normal conditions.”

Two and three-bedroom apartments are proving highly popular with buyers across the development, which will cover an unprecedented 1.2ha inner-city site fronting Cleveland, Marriott and Baptist streets.
“We have sold just over 20 apartments and both full penthouses in the first two buildings,” Perilli says.

Toga has a longstanding commitment to the site, having bought it from a private individual 3½ years ago for $95 million. All up, it plans 154 residential apartments and townhouses across six buildings ranging in height from four to seven stories. 

They will be close to the light rail as well as the popular Crown and Danks streets.

“There is one more stage of just apartments to be released, and a combination of terraces,” Perilli says. “The apartments will be one, two, three and four-bedroom and it will all be developed in one hit, taking around 3½ years to build.”


“It’s a big build; it’s attractive to a number of people because it will be so long before it is finished. Buyers can put down a deposit – the banks are requiring 10 per cent but we are staging it, looking at a 5 per cent deposit now and asking for 5 per cent before construction starts.” Perilli says Toga will take cash or insurance bonds as a deposit.


The masterplanned precinct will also offer its residents and the neighbouring community a diverse range of spaces, including densely landscaped green areas, a new 517sq m public park, market-style retail, a dining precinct, and a pedestrian laneway linking Marriott and Baptist streets. About 12,000sq m of the development is dedicated to commercial and retail spaces that will include a Coles supermarket, Vintage Cellars, boutiques, providores, restaurants, street cafes and parking. 


Prices start at $875,000 for a one-bedroom apartment and some have car spaces, although Toga is putting in a lot of spaces for shared vehicle services and there is the light rail. “A few apartments don’t get car parks but the majority do,” he says.
Although there is no swimming pool in the complex, Toga is looking at installing virtual concierge services. Using a special app, residents will be able to drop off clothing or laundry at reception or use cool storage facilities. Perilli says Toga is looking to support the local Surry Hills and Redfern businesses.


To date, most buyers have hailed from local areas, including the city’s inner west and eastern suburbs, but there have been some buyers from much farther afield, including New York and Hong Kong.
“One or two of the buyers have been from Sydney’s Hills District,” Perilli says. “It’s a bit of a mix, as you would expect.”


Because of COVID-19 Toga is holding virtual tours and live chats. Perilli saying sales have slowed a bit because of the virus.
The apartment interiors were designed by Burley Katon Halliday, giving residents the choice of a terrazzo floor or the more conservative option of hard-wearing timber flooring.


SJB designed the penthouses, with stone floors and floor-to-ceiling timber joinery in the kitchens, and inset carpets.

 

Featured in The Australian, Mansion Magazine

Written by Lisa Allen



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