#Approved: 30st/84m-Stamford Residences (The Rocks)

[finn]

Here's the new destiny for the Gloucester St site across the street from Cove - no longer plans for a 5-star hotel, which wasnt seen as financially viable, but instead another uber-luxe residential tower for The Rocks neighbourhood!

$200m Unit Tower For Rocks

Kathryn House
521 words
17 June 2004
Australian Financial Review
54

Another luxury apartment tower will be built in Sydney's historic The Rocks district following the sale of a major site next to the Harry Seidler -designed Cove apartments.

After years of uncertainty, the Sydney Harbour Foreshore Authority yesterday sold a 99-year leasehold over the Gloucester Street site to Stamford Windsor Ltd , a subsidiary of Singapore's Stamford Land Corporation .

While the sale price has not been disclosed, the leasehold is understood to have fetched between $21 million and $25 million after a last-minute bidding war between Stamford Windsor and Cove developer Grocon , which was keen to replicate the success it enjoyed with its neighbouring project.

Stamford Property Services general manager Anthony Rice said his group intended to build a $200 million apartment tower on the site, to capitalise on its prime location and views of Sydney Harbour.

Stamford controlled by Singapore property magnate C.K. Ow is already building 83 apartments in the nearby Stamford Marque on Kent Street and is awaiting approval to convert its Sir Stamford Hotel at Double Bay, in Sydney's eastern suburbs, into luxury units.

Buying the Gloucester Street site was evidence of Stamford's continued confidence in the Sydney apartment market, although Mr Rice said the group was being very selective and targeting its projects at owner-occupiers.

"Sites in the northern CBD are very difficult to find and I think with the success of the Cove, which adjoins the Gloucester Street site, the medium-term prospects are good," Mr Rice said.

"The product we've done appeals more to the owner-occupier than the investor and at the moment it's the owner-occupier who will pay the premium."

'We're not ignoring what's happening in the marketplace but we're trying to be very selective. Our projects are all high-quality developments in good locations with good views."

While the Gloucester land is already approved for 130 apartments and some associated commercial and retail space, Stamford is likely to submit a new development proposal.

Some retail and commercial space will also be included in the new plan, which retains the site's historic Reynell Building .

Colliers International agent Jarrad Grierson negotiated the sale for Sydney Harbour Foreshore Authority , which in recent weeks has also sold the Water Police site at Pyrmont. The Water Police land was sold to Sydney City Council for $11 million and will be converted to a harbourside park.

The Stamford deal follows a series of failed attempts by SHFA to sell The Rocks site, at 171-193 Gloucester Street (Cityscope documents refer to a failed deal in 1989 to sell the leasehold to White Developments ).
Numerous parties have since negotiated with SHFA over the land, including Meriton Apartments , Mirvac and Grant Samuel.

The sale to Stamford comes less than 12 months after SHFA abandoned plans for the site to be developed as a five-star hotel after tenders revealed the project was not financially feasible. The site comprises three properties and has a total area of 1759 square metres.

[CULWULLA]

excellent!!! another apartment tower!!! this should be approx 100m high! so atht area will certianly be full of landmark towers.
hopefully a DA model will come in soon and ill post a pic of model.
cheers

[CULWULLA]

the architects took a template for the model today and the "tower" form is identical to next door COVES! but at a north /south angle! i enquired about height and it doesnt look much shorter than Cove,! so another 500footer on the way!!
model will be in over next few weeks!

[Noonos]

*clears throat*...YYYYYAAAAAAAAAAAAAAAAAAAAAAAAAAYYYYYY!!!!!!!!

[Trances]

Cool
will add to that cluster so !

[AltiusAltiusAltius]

Another 500 footer! :) That sounds really cool! And I am sure an excellent design will follow! (Thank God this is 'No Meriton' territory! lol) :cheers:

[Fabian]

Excellent. I've always liked Cove for it's slender, oval shaped design with it's wavy balconies and to have another one built with the same in the area is great news.

I prefer it was lined up in the way Cove is to add to the vista as seen from Observatory Hill. Like Cove, you would be able to admire the tower at it's most slender (and it's best).

I bet Harry S was involved in this one. At least there is a prominent figure in this city who wants to build tall and Harry happens to be one of them :cheers:. He should join the forums because he would be a very welcome man here, even if it means he gives Avatar style lectures to get his point across :grouphug:.

[CULWULLA]

kann finch are the architects.

[CULWULLA]

a guy come in today for a quick model shoot of one of the proposals.
this one is 120m tall.
i love its slenderness. its turned north/south to allow sun into Wynyard park.
previous approvals have been only 90m and 30 storeys. this one seems to be better designed which allows a taller shape.

http://img.photobucket.com/albums/v158/culwulla/abovebest.jpg

its actually quite wide. the 2 storey bldg to its immediate south is also part of complex. thus the overhang, it will be restored .

http://img.photobucket.com/albums/v158/culwulla/fromabove.jpg
i asked if this was as tall as it could go, and he said he could go higher!
he said it had to be a height somewhere between Cove and Observatory apartments to respect the heights in the area.

http://img.photobucket.com/albums/v158/culwulla/fromwest.jpg

[gazmo]

i asked if this was as tall as it could go, and he said he could go higher!
he said it had to be a height somewhere between Cove and Observatory apartments to respect the heights in the area.


....or to respect the views west from Cove's Penthouses....

[CULWULLA]

lol, yeah you should NEVER buy a unit in the city for the views!! but looking at the angle, its probably the best outcome for the Cove.

[SinCity]

Looks great, but will Queen Clover approve of this ????

[Grollo]

That will look pretty cool the way the heights go down from Grosvenor to Cove to the new tower and they all have a similar shape.

136m would be better, then you would have:

Grosvenor: 180m
Cove: 158m
New Tower: 136m

perfect hehe

[CULWULLA]

Looks great, but will Queen Clover approve of this ????
would you believe she has no say in it! its Sydney Cove Authority and state planning.
grollo- yeah i hope it gets a tad higher.

[Fabian]

Looks good at the moment. It's becoming a bit of a tight squeeze in that part of town :)

[Trances]

i do like in the last photo good angle

[CULWULLA]

yes i agree, this has to be the "landmark" capital of oz in that section of the CBD! evry bldg is a stand alone tower! very manhattan!
it has to be the greratest collection/cluster of highrise in Oz?

ana hotel-126m
quaywest-142m
regent hotel-110m
grosvenor pl-180m
aapt-193m
cove-158m
new tower-120-40m?
observatory-120m
aussie sq-170m
westpac-134m
jamison st hotel-123m
highgate-100m
wow!

[Aussie Steve]

Sorry, I couldn't live there. The noise from the roads below would make me want to jump. And one other thing, I don't consider anything south of the Cahil Expressway part of The Rocks. What does everyone else think?

[Trances]

i dont know with the entrance to the bridge you still fell in its shadow
any where north of lang park has that feel to it to me at least and I stayed in the ANA many times and dont really notice the traffic behind the double glazzed glass when your 20F up.

[Brizer]

Despite anyone's personal opinion on the matter, the Rocks has always included the area north of Grosvenor and the interloper is that planning disaster of the 1950s, the Cahill Expressway, which created a division that was not there before historically.

[MrTall]

Slick looking tower there. Would be nice to have it a little taller than old ANA Hotel but slenderness certainly impresses.

[christarrant]

if the developer can go higher why dont they ? wouldnt they want to squeeze as many units as possible into an apt tower in this part of town. 120m is ok I guess although it would be completely hidden in almost every view of the skyline wouldnt it ?

[CULWULLA]

hopefully it will go higher. its all got to do with floor space ratio and shadows. soon as they work it out, the DA will be lodged and hopefully we will get the more detailed model. i think within next couple of months.

[climbing_crane]

confirmed is it

[CULWULLA]

hopefully some action soon. still no model.

[rob_]

Cahill Expressway may be ugliest thing to hit sydney in a long time, but it did save the rocks which is a good thing, would be nice to make expressway go away now though ;p

nice idea developing up along the main road side with good looking buildings, hope it goes ahead.

[Blue_Copper]

bump

[CULWULLA]

still no formal application from SHIFA yet. hopefully soon.

[CULWULLA]

well its finally seeing light of day!
the new 30storey tower is going to council tommorrow night for a brief.
Its a new design now!
name- Gloucester Street Apartments
architect-kann Finch
height-84m
storeys-30 (+4 below)
use-122 units
carpark-186
cost-$185mil
I saw a render and it looks like an office tower but with no balconies. Its light green with dark green sections. Its a stepped form, high bit at north and steps down to south. i suppose it reminds me of Portico, but no flare bits. its quite nice actually. im building a block model for tommorrows meet. so we should get DA in soon.
cheers

[CULWULLA]

well heres the Gloucester Street elevation.

http://img359.imageshack.us/img359/8361/rocks8jd.jpg

[sirhc8]

So what are we looking at? Mid-late next year?

[CULWULLA]

i suppose things will start to kick of late this year or early next year. its go go go/
i f you want to know why the stepped design. There is a 90m height limit for the site due to shadow impact on nearby Lang park.

[drnilescrane]

Needs more random bits of facade sticking out at random locations.

[CULWULLA]

lol, nah no more random please;
block model pix
http://img352.imageshack.us/img352/1503/171gloucester5fg.jpg

http://img352.imageshack.us/img352/8836/sideview3uj.jpg

view from observatory
http://img352.imageshack.us/img352/5680/viewfromobservatory6ir.jpg

[zulu69]

Wow look how much JB sticks out in the last pic.

This tower look great for the site and will be a welcome addition to the run down auction house that it will replace.

[Gargarensis]

that 90m building looks swamped against the backdrop of sydney city. sydney is definitely miles ahead of the other australian cities as far as cityscapes are concerned. nevertheless this building will only add to the stunning scraper vista along the expressways leading up to the harbor bridge.

[gazmo]

Meshed scaffholding has been erected on the old building on this site (next door to science house).

Perhaps this is the start of demolition?

[Lord_Bertrum]

Personally I think they have missed an oportunity here and should have stuck to the original design. This new design looks too small in comparison to the surrounding buildings. A 90m height limit on that side of the express way is too small.

[MrTall]

I agree. They could have had a nice, slender, tall buidling and instead they build a stump. Barf.

[CULWULLA]

well there were shadow issues with Lang park. thus the stepped design and max height of RL105m.

[christarrant]

Cove looks awesomely sleek and slender from the toll booths,now there'll be a fat bastard there covering most of it up. Still Im not too fussed, im sure it will look good though and add another 'layer' to the skyline.

[Muse]

I think it looks odd and out of place due to its form. I/We may in the end like it for its architectural merit alone but where it is located, juz looks dumb...like you knooooow.

...

[gazmo]

Well something is definately going because the old building that's been meshed up is being demolished. Its 'clock tower' is already in pieces.

[BrizzyChris]

Amazing that a 90m looks minute in comparison to the rest of the CBD. John Boyd looks massive!

[CULWULLA]

contacted SHIFA today and they told me this> bit confusing?
There has been 2 approvals for the site and they are demolishing the existing bldgs on those approvals.The current proposal is before SHIFA and will be sent to planning minister for final approval in Dec.On approval the site works will commence early 2006 and tower will eventually start.
so pretty positive news. amazing how its an apartment tower starting up.i thought it would be years before we see another one of them.
cheers

[finn]

^^Well, it's a very limited market in that area - hardly any sites available - and considering the views that tower will have, they'll achieve some big prices. The top end of the market never really slips, and there are always people willing to pay high prices if the quality is good.

[CULWULLA]

^ exactly. location location location ,view views views

[CULWULLA]

view of site in foregound (6storey with green turret and the 2 storey to the south)
http://www.realestate.com.au/objects/props/8015/102738015bl1129269411.jpg

[Muse]

^^ Gee, Cove under construction, and just out of the ground too. For those of us that remember, what a frustrating time that was. lol

The buildings mentioned have gone, some Abi Group hoardings are up, a couple of track hoes and a wheel-barrow are on site but no digging as yet.

In CULWULLA's pic, Grosvenor is @ 180m above ground, but the site is on higher ground and in the foreground, @ 84m guestimate the height of its roofline as you may. AAPT to the right is @ 193m including crown and signage.

[Trances]

A few of the site for good measure
Walk past each day and have not seen photos posted here ( dont expect any changes but we should have a starting point at least )

http://www.imagestation.com/picture/sraid195/p1a4b7df4b5feb4ed2a2c843b1c96dd86/f13d92bc.jpg

[Trances]

Above is looking from the North

Looking down at the site
http://www.imagestation.com/picture/sraid195/pde0702af8ab551026a31a7f308702db5/f13d92a0.jpg

http://www.imagestation.com/picture/sraid195/p6ba63923698a20f9ceba734fe57dcb17/f13d928b.jpg

http://www.imagestation.com/picture/sraid195/p772dc0ec7a35529084a3bf1f58bb4547/f13d926c.jpg

http://www.imagestation.com/picture/sraid195/pc1e4ff2870df334d304172a5b85a35d2/f13d9234.jpg

[CULWULLA]

thanks trances. you saved me a trip. yeah things should get going early 2006.
great

[CULWULLA]

this was signed off last week. Construction to start asap!!
great news.

[Brizer]

Good news. Could I ask the obvious questions: any more recent, more detailed images?
Tah.

[CULWULLA]

ill try and get some renders. its light and dark green glass. The engineer told me that the glass is a new type with lead added for sound proofing (due to being adjacent to Bradfield hwy).

[Trances]

gee nothing from months ago when i took those photos. Looking forward to that.

[CULWULLA]

im just happy there will be some construction happening this end of town.

[CULWULLA]

should fill this space in nicely.
http://img176.imageshack.us/img176/2981/103366600ml1155737450me9.jpg

[finn]

Looks like this one has a good chance of getting underway next year. :)

Property
Stamford swaps beds for office space
Kathryn House
864 words
16 October 2006
Australian Financial Review
First
55
English
© 2006 Copyright John Fairfax Holdings Limited. www.afr.com [http://www.afr.com] Not available for re-distribution.

The Singapore-controlled Stamford Land Corporation has grabbed the starter gun in the Perth office building race.

Stamford has ditched plans to build a luxury hotel behind the city's Woodside Petroleum headquarters in favour of a speculative, 15,000 square metre office tower.

A proposal for the Hay Street site has been lodged with Perth City Council as Stamford steps up its development activities throughout Australia and New Zealand.

The company - part of the shipping and property empire of Singapore magnate CK Ow - has five major projects either planned or under way throughout the region valued at close to $650 million.

Perth is the only commercial deal afoot for Stamford, which has previously confined its local activities to luxury hotels and apartments.

In an exclusive interview with The Australian Financial Review, Stamford Property Services general manager Anthony Rice said the group was positioned to be first out of the ground in the booming Perth office market and could have its project completed by mid to late 2008.

Stamford is also planning a luxury apartment project in Sydney's historic The Rocks precinct; a residential conversion of its high-profile Cosmopolitan Centre in Sydney's eastern suburbs; and a $200 million apartment tower across the Tasman in Auckland.

While office developments have not previously been on the agenda, Mr Rice said Stamford would more than likely retain the planned $90 million Perth project to capitalise on boom-time conditions in the Perth commercial market.

Stamford's site is unencumbered and the building substructure, including a car park, was completed four years ago when the Woodside building was developed. "We can beat everyone out of the ground by at least 12 months," Mr Rice said.

He admitted that the speed and the strength of the Perth office market recovery had taken the market - including Stamford - by surprise.

"It's gone from being a project which would generate a modest profit and return to something that will generate a very strong return.

"It's just not viable to build a five-star hotel in the Perth CBD. Offices are a completely different story."

Talks were already under way with two builders and, subject to the relevant approvals, work on the Kann Finch designed project was expected to start by March.

Elsewhere, Stamford is pursuing upmarket apartment projects to capitalise on continued demand at the top end of the residential market.

As work comes to an end on the $110 million Stamford Marque apartment building in Kent Street, at the northern end of the Sydney CBD, Stamford is preparing to start construction on what will be the last high-rise residential building in The Rocks.

Stamford has also planned a luxury residential development at Double Bay, which would involve demolishing its Sir Stamford Hotel and building luxury apartments above the Cosmopolitan Centre.

While residential conditions were still tough in the broader Sydney residential market, Mr Rice said the top end of the market remained strong and it had been able to increase prices in the Marque project, which is aimed at owner-occupiers.

The three-storey penthouse has just been sold to a Southern Highlands buyer for $8.75 million. It has 376 square metres of internal space and 191 sq m of external space, including a rooftop terrace with heated lap pool.

Colliers International NSW residential director Murray Wood negotiated the deal.

Even higher prices were expected for The Rocks project, which the group secured two years ago from the Sydney Harbour Foreshore Authority.

Stamford recently went back to SHFA with some design changes but hoped to start work early next year on the $210 million project, which would include about 134 apartments.

Mr Rice said it would be a step up from Stamford Marque and would provide what he described as 5 1/2-star apartments, which would be priced accordingly. He is expecting price tags above $10 million for the 500 sq m penthouses.

Stamford would seek limited precommitment of about 30 per cent to 35 per cent of the project, compared with the usual 50 per cent-plus.

"The residential market's not going gangbusters by any stretch of the imagination but there's always a market for good quality, whether it be for cars, or boats or property," Mr Rice said.

"The top end of the residential market is bumping along quite nicely and supply is very limited in the north end of the Sydney CBD."

Stamford is even more bullish on Double Bay. Mr Rice said it would not seek any presales and would instead sell the 28 apartments when the project was completed, to appeal to wealthy empty nesters who preferred to see a finished product.

Other deals were on the radar and Mr Rice said Stamford would consider the Advanx Tyre site at Rushcutters Bay in Sydney's eastern suburbs. The intention was to secure one or two new sites each year, mainly for residential projects.

KEY POINTS

· Stamford has five major projects either planned or under way valued at almost $650 million.

· Perth is the only commercial deal afoot for Stamford.

[CULWULLA]

thanks finn. bout time this one will get up.

[CULWULLA]

a planner told me today this one will start soon.good news

[Muse]

^^ 4 months since that tid-bit of news. Anyone notice any movement, even preliminary works on this one?

...

[Muse]

Alas, went down to the site today and nothing but a St Hilliers sign on the fence (checked its website but nothing as yet). Otherwise bitumen and grass on the site.

[CULWULLA]

was chatting to architect today about this project. they have had some problems with relocating extensive cabling `under cumberland st which "interfered" with there basement levels. Things should be rectified soon and construction is set to start within a couple of months.
great stuff

[cammo2004]

was chatting to architect today about this project. they have had some problems with relocating extensive cabling `under cumberland st which "interfered" with there basement levels. Things should be rectified soon and construction is set to start within a couple of months.
great stuff

Yeah, getting that kind of stuff right is rather important...

[Muse]

Finally, a render:

http://img.photobucket.com/albums/v190/Muse11/GloucesterStreetApts.jpg

[Cariad]

Oh .....

[LanceDriver]

^ that's what i was thinking.

[CULWULLA]

nice. i was talking to architect last week and he said its going to have a "first" for glass in Australia. being sound proof .
ta muse

[cammo2004]

Nothing special, but hardly bad either. Silver would, IMHO have been a better choice than white, though. Soundproof glass... I'm guessing that would have alot to do with how close this is to the Harbour bridge approaches.

[christarrant]

Would have loved to have seen really sharp / striking Melbourne style modern architecture here, given it's prominent location. Something that makes a real statement. Oh well......atleast it's not beige or white.......

[Brizer]

Nice, but not exciting.

[Trances]

At least more glass than cream.

[Muse]

Personally, if it stays true to the render above ie with its dark glass, I think it will look pretty schmick coming to & from the Harbour Bridge approaches.

From http://www.stamfordland.com/properties/gloucester.aspx

4 small yet undetailed renders unlike the one I posted above - but detailed info on the project:

http://img.photobucket.com/albums/v190/Muse11/gl_exterior_11.jpg__http://img.photobucket.com/albums/v190/Muse11/gl_exterior_41.jpg__http://img.photobucket.com/albums/v190/Muse11/gl_exterior_22.jpg__http://img.photobucket.com/albums/v190/Muse11/gl_exterior_31.jpg

The Stamford Residences

The Stamford Residences will be a 30 level residential apartment tower situated in The Rocks precinct of the Sydney CBD. There will be 122 luxurious residential apartments in the tower which have been designed to suit the most exacting needs and requirements of apartment owner occupiers looking for superior design quality and, safe and secure home in the Sydney CBD. The Stamford Residences will feature spectacular views of the Sydney CBD, the Harbour Bridge, Sydney Harbour, North Sydney, the adjacent historic St. Patricks Church and of Lang Park. Situated only five minutes stroll from Circular Quay, The Stamford Residences will be the last remaining high rise residential building in The Rocks heritage precinct. Due for approval later this year and with construction expected to commence in late 2006 :lol:, The Stamford Residences is expected to be completed by 2009 :?. Marketing of The Stamford Residences will commence in early 2006 :ohno:

Adjoining The Stamford Residences is a 4 level heritage building which will be known as the Reynell Terraces which will comprise commercial and retail space and 12 residential apartments which are designed in line with the heritage aspects of the former warehouse premises known as the Reynell Building.

All residential apartments of The Stamford Residences and the Reynell Terraces feature design without compromise and will be fitted out with the highest quality finishes.

The design of the apartments and selection of finishes has been a collaboration of architects, the Kann Finch Group and Burley Katon Halliday with design refinement provided by Thomas Hamel.

All residential apartments of The Stamford Residences and the Reynell Terraces will have secure basement car parking plus storage.

...

[Muse]

BTW CULWULLA. Can the title of this thread by changed to The Stamford Residences or The Stamford Residences on Gloucester?

Also the render I posted in post #66 submitted to Emporis along with the name change? Only scant info is on its Emporis page ATM. Emporis also states its 85m & not 84m...

Gloucester Street Apartments (http://www.emporis.com/en/wm/bu/?id=gloucesterstreetapartments-sydney-australia)

Cheers.

...

[Brendan]

Finally, a render:

http://img.photobucket.com/albums/v190/Muse11/GloucesterStreetApts.jpg

It's meh.

And are those openable windows on the facade? God I hope not.. :ohno: When built the curtains of the apartments will probably be visible, giving it an ugly appearance similar to that of World Tower:

http://farm2.static.flickr.com/1077/572847561_1659870098.jpg

[CULWULLA]

nah, the facade will be top notch. its double glazing will make it appear very dark and you wont make out anything behind it. (curtains,naked people etc)
thanks muse for info. the reason why its 85m on Emporis is because its 84.5m. Emporis rounds up figures.

[CULWULLA]

word is that this is gonna start s00n.
http://www.stamfordland.com/properties/gloucester.aspx

http://www.gloucesterstreet.com.au/

http://images.domain.com.au/img/20071018/409/2006760311_2_FS.JPG?mod=071018-113132

[Brendan]

I think it would look alright if they gave some colour to it! My God it looks dull. Perhaps some nice reflective blue cladding similar to that of Gateway Plaza would look much better on this building. If an area needs more glass/colour it is definitely here.

[CULWULLA]

there was a story about this project in sunday tele.
sayings it will be the largest resi tower in sydney, meaning it has largest units.

[Fabian]

I think it would look alright if they gave some colour to it! My God it looks dull. Perhaps some nice reflective blue cladding similar to that of Gateway Plaza would look much better on this building. If an area needs more glass/colour it is definitely here.

It's fine as is. Moulds in well with surrounding towers.

[CULWULLA]

oh well ill scan and post it then.
"3 storey/4 br penthouse with 472sqm equiped with 3 car spaces, own lift and 9m high staircase!! expected cost- more then $14mil

http://img441.imageshack.us/img441/9930/stamfordresifz8.jpg

[CULWULLA]

this project is getting alot of press lately.
http://www.news.com.au/dailytelegraph/story/0,22049,22822659-5013110,00.html

http://www.news.com.au/common/imagedata/0,,5770265,00.jpg

From Rock slums to slick city

THIS 30-storey residential unit tower in the heart of The Rocks will be the last building of its kind allowed in the city's most historically significant area.

In the planning for 25 years, the $220 million Stamford Residences will cast a very different shadow than the area's original homes and terraces of 18th century Sydney.

With the penthouse alone expected to sell for more than $14 million, the incoming residents at the base of The Bridge will be more millionaires than the workers and merchants that were the area's previous tenants.

National Trust of Australia conservation director Graham Quint said the trust had been following the development on the site since it was first proposed in 1980s.

While they have not opposed it formally, they are ideologically worried about the gentrification these blue ribbon buildings could bring to an area known and loved for its rough knockabout atmosphere.

"We warm to the idea that this is the last large development of this scale and size. You wouldn't want this encroaching further into the heart of The Rocks," Mr Quint said.

"This sort of thing is the trade off to protect the rest of The Rocks.

"The main thing we're worried about is it becoming increasingly gentrified, particularly around Millers Point.

"The area is becoming glitzier and glitzier but people and tourists don't want to see something they can in their own country. You don't want to lose all that character."

The NSW Department of Housing has announced it will place the long-term leases on 16 of its prestigious, heritage-listed properties at Millers Point on the open market.

The terraces were used as community housing but will be sold as 99-year leases to the highest bidder at auction.

The latest and last high-rise development in The Rocks will be built next to and incorporate the historic Walter Reynell & Sons building fronting Gloucester and Cumberland Sts.

It will consist of 122 apartments - the cheapest of which will be a 62sqm, one-bedroom unit for $645,000 - and commercial and retail space.

The 427sqm penthouse is expected to sell for $14 million, which would beat The Bennelong, which sold in May for $12 million, and fall just short of the $16.5 million paid for three adjoining apartments formerly owned by "Aussie" John Symond at Walsh Bay.

All residents will have access to an 18m indoor pool, gym, and a landscaped roof terrace on level eight.

The Stamford Residences is the final tower to be approved under the Sydney Cove Redevelopment Authority Planning Scheme.

The scheme allowed for a single tower to be built in each of the six blocks south of the Cahill Expressway as a way to provide funding to upgrade other heritage buildings throughout The Rocks.

In the past 25 years the scheme has resulted in the Four Seasons Hotel, Grosvenor Tower, Quay West Apartments, the Shangri-la Hotel and the Cove Apartments.

[Cariad]

Given this press and being " the last building of its kind allowed in the city's most historically significant area." I would expect an outstanding design. I am sure there are heritage factors or whatever involved but it would have been good to see something that really shines and stands out. Think of the "dancing building" in Prague, thrown into an historical area and yet oddly fits in. Terribble and Boring design 2/10.

[LanceDriver]

i still don't get how these residences will be so sort after, they hang over the most busiest road in the nation! oh, and isn't the design the approved one in this thread?

[CULWULLA]

the bldg had a max height enevlope because of sun plane down to wynyard park. Thus the stepped effect. The glazing is a first for Australia being double glaze,thus no noise from nearby traffic. The views are awesome north and west. I like the design.

[Fabian]

The penthouse of Cove has been valued at $12 million and that also has views of the Opera House out to the heads, which this penthouse wont be able to boast. Too overpriced.

[CULWULLA]

^but that isnt a 3 level/500sqm unit like stamfords. and i dont think its sound proof either.

[Muse]

Only 7 pads are left out of 122. It's to begin Feb/Mar '08 for 2010 completion.

The Bridge exit is getting an eye-full too.....L.A.V.I.S.H.!!

http://img.photobucket.com/albums/v190/Muse11/StamfordGloucesterApts14Dec2007.jpg

[CULWULLA]

7 out of 122? bloody hell. some people have got some $$$. such a great spot. and views to die for.

[Brizer]

EXactly! Where do they get the money from!? I dunno, I must have been standing at the end of the queue picking my nose when they were handing out the money making gene...I didn't even manage the usual route of inheriting money. Was it something I said?

[LanceDriver]

I was back there with ya!

[CULWULLA]

i was chatting to a head supervisor yesterday who works for St Hilliers .
He is currently finishing off the 18storey Sofitel out at Homebush.
i asked him what his next job is and you guessed it, Stamford at the Rocks.!
he said within two months they will start work at the site!
great news.

[CULWULLA]

this project was mentioned in todays fin rev,
Apparently 80% of apartments have been sold in past 3 months totalling $150mil
should start in may

[CULWULLA]

CONSTRUCTION TO START IN A FEW WEEKS!

http://farm3.static.flickr.com/2250/2437611550_049bb113d7_o.jpg

[CULWULLA]

bit happening on site. had a chat to worker, he said there working on undergrund services at wont start til august
http://farm4.static.flickr.com/3027/2654197557_c9cd41be51_b.jpg

[Muse]

^^ Well, since that pic was taken, a bit more gear has been moved on site and the mesh on the Gloucester fence has been tidied up, but unfortunately no digging has commenced as yet. Surely has to be any day now.

[LanceDriver]

^ last time i looked, about a week ago, that digger was still sitting exactly as it is in that photo.

[CULWULLA]

YES ONE OF MY CLUBBIES IN UMINA IS SET TO BE A FOREMAN ON THIS ONE. HE WORKS FOR ST HILLIERS. HE SAID THE UNDERGROUND CRAP HAS SET THEM BACK A FEW MONTHS. BUT SHOULD START SOON.

[Fabian]

The Gate was open today.

http://img54.imageshack.us/img54/8397/dscf5774os1.jpg

http://img512.imageshack.us/img512/4349/dscf5775nr2.jpg

http://img204.imageshack.us/img204/7245/dscf5778ub9.jpg

[LanceDriver]

mmmmmm, lavish.............

[Brizer]

Lavish: so there are an awful lot of them?

I also like Meriton's 'surrounded by tree-lined boulevards' (or sim) at "Valentino" in Rosebery: a couple of fairly ordinary streets with trees in the footpaths and the traffic roaring up and down Rothschild Av and Epsom Rd on the other two sides.

[LanceDriver]

cumberland st is closed and fenced off out the front of this site. i'm not sure why because there's still nothing going on at all.

[CULWULLA]

theres been heaps going on for past 4 months ive been told by St hilliers.
the undergrd services have had to have a major overhaul before excavtion/piling can commence.
things should start up soonish

[climbing_crane]

There's a couple of nice blue cranes down this neck of the woods. Not on this site but down across from the basketball centre.

[CULWULLA]

http://www.skyscrapercity.com/showthread.php?t=519583

[LanceDriver]

Yeah, it's a couple of hammers for the YHA. Big effort for a smallish building. It must be for heritage protection.

[LanceDriver]

Today at lunch time. The top road has been closed off for some time now ...

http://farm4.static.flickr.com/3295/3023933402_654a363485_o.jpg

But still no action on the site itself ...

http://farm4.static.flickr.com/3193/3023106411_ceba2bd6db_o.jpg

Although the heritage building next door is being worked over ...

http://farm4.static.flickr.com/3206/3023933504_cf6935b23f_o.jpg

[CULWULLA]

ive been chatting to a builder thats gonna work on the tower. there working around the clock on relocation of services for this project. it will take 5 months. hopefully the new year the site will start excavations