More than 1000 apartments to rise from old Sydney Fish Market site
As many as 1100 new apartments could soon rise from the old Sydney Fish Market site with the state government this week shortlisting three of the country’s biggest developers for the long-awaited project.
Lendlease, Mirvac and Stockland are vying for the job of creating as much as $1.5 billion in real estate across several towers that will have uninterrupted views across Blackwattle Bay.
The state government wants those views to be accessible to as many prospective buyers as possible, which would be a departure from the recent trend of new residential developments near the CBD having a luxury focus.
A new generation of luxury towers has been in development along central Sydney’s waterfront including Aqualand’s Central Barangaroo project, Mirvac’s Harbourside apartments at Darling Harbour and Lendlease’s high-end project at One Circular Quay.
The successful bidder will be required to deliver a diverse mix of one-, two- and three-bedroom apartments.
“This is a major milestone for the project and a once-in-a-generation opportunity to transform Blackwattle Bay into a lively world-class waterfront precinct alongside Sydney’s harbour, for all to enjoy,” NSW Lands and Property Minister Steve Kamper said.
“Blackwattle Bay is set to boost housing supply while unlocking the potential of the area and creating thousands of jobs to support a thriving 24-hour economy.”
Proposals to redevelop the 3.6-hectare site first emerged a decade ago. Since then, a wave of development and infrastructure investment has transformed central Sydney.
Already within walking distance of the CBD, residents in the new apartment towers will also have the benefit of a new metro station planned for Pyrmont. The Sydney Fish Market itself is due to relocate next year to a new site nearby at the top of Blackwattle Bay.
The site is part of a broader redevelopment across a 10-hectare precinct at Blackwattle Bay where a foreshore promenade will connect the relocated fish market at one end to a 1.1-hectare park at Bank Street under the Anzac Bridge.
In June, the state government stepped in to ensure the fish market site could be developed into 70 per cent residential and 30 per cent commercial. The previous planning control allowed for only 50 per cent residential. That change increased the number of homes that could be built from 800 to 1100.
The old fish market is of 11 key sites across Sydney earmarked for fast-track development. The policy allows the government to take over rezoning proposals already in the planning system if it deems them “unreasonably delayed” or of state or regional significance.
In addition to the 1100 or so new homes at the site, the successful developer could potentially look to build a further 400 homes in the precinct if it can take control of a neighbouring site, owned by concrete company Hymix, with the same improved land use.
The shortlisted developers are due to submit their proposals by early next year.
