Fortis achieves planning approvals for $570 million worth of projects in Sydney and Melbourne

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Fortis achieves planning approvals for $570 million worth of projects in Sydney and Melbourne

The Fortis projects include the second tower of the $320 million Wiltshire House in Richmond, an $80 million commercial building in Manly and a landmark $170 million precinct in Double Bay, in collaboration with Restoration Hardware (RH), that will bring the luxury lifestyle brand to Australia and Asia-Pacific for the first time.

Fortis achieves planning approvals for $570 million worth of projects across three major developments in Sydney and Melbourne

Feb 21, 2024

Fortis has achieved planning approvals for $570 million worth of projects across three major developments in Sydney and Melbourne; the second tower of the $320 million Wiltshire House in Richmond, an $80 million commercial building in Manly and a landmark $170 million precinct in Double Bay, in collaboration with Restoration Hardware (RH), that will bring the luxury lifestyle brand to Australia and Asia-Pacific for the first time.

At Wiltshire House, the 22,200 sqm, $320m, two-tower project in Richmond, the developer has appointed multi-disciplinary design practice SJB as lead architect, having reimagined previously approved plans for the second tower from commercial to residential in response to the pent-up demand for high quality residential stock in Melbourne’s inner suburbs.

The move is reflective of the confidence that Fortis continues to hold in residential development across Melbourne’s inner ring suburbs, which is underpinned by the initial off-market enquiry for the building’s first residential tower, and the macro fundamentals which point to a sustained, significant undersupply of new housing across the state into 2027*.

The development approval comes at a critical time for housing supply in the state of Victoria, with Charter Keck Cramer’s State of the Market H1 2023 report revealing that 15,000 – 18,0001 new build-to-sell and build-to-rent apartments are required to meet the current levels of demand, yet completions are only forecast to reach 10,500 per year.

Meanwhile in Sydney, the RH DA decision made by the Woollahra Planning Panel provides approval for a purpose-built Design Gallery that seamlessly integrates artistic installations of luxury home furnishings, an Interior Design studio with professional design services; and a Rooftop Restaurant, offering a curated fine dining experience.

With an architectural approach defined by the RH design ethos – a study of balance, symmetry, and perfect proportions – RH Sydney, The Gallery at Double Bay will be a signature landmark for the city’s eastern suburbs, integrating a timeless yet contemporary structure into the landscape of Double Bay.

Fortis acquired the 1,027sqm RH Gallery site for $49 million in 2021 with the vision to create a bespoke design and hospitality destination. Working in collaboration with RH, MHN Design Union and Dangar Barin Smith, the $170 million commercial project will represent a distinctive and inspiring space of the highest quality and craftmanship.

Fortis has also secured development approval for 34-35 South Steyne in Manly from Northern Beaches Council.

Named ‘White Water’, construction on the 690 sqm site is set to commence in Q3 2024, with developer Fortis set to transform it into a commercial and retail offering of unrivalled quality yet to be seen in Manly beach. Primely located within Manly’s retail and dining precinct, the refurbished project will feature three levels of commercial office space with extensive floor plates, superior end-of-trip 1 Charter Keck Cramer, State of the Market, Residential Build to Sell (BTS) and Build to Rent (BTR) Apartments METRO MELBOURNE H1 2023.