SYDNEY developer Deicorp has appointed Fender Katsalidis to design and deliver its $310 million mixed-use tower in Sydney’s inner west.
Located on the corner of Marquet and Mary Streets in Rhodes, around 12km west of the Sydney CBD, the 32-level tower is set to include 213 apartments, a three-storey basement and 3,782sqm of retail and commercial space.
The project will include pedestrian access to the Rhodes Central retail precinct and Rhodes train station and deliver critical housing supply to Sydney’s inner west.
“With five-year net overseas migration set to total almost 1.5 million people, the Property Council of Australia has called upon government to support the delivery of new homes to fulfil the expanding population demand,” said Craig Baudin, director at Fender Katsalidis.
“Deicorp’s Rhodes project is located in a prime location with close proximity to key transport infrastructure and retail amenity. Fender Katsalidis’ experience in mixed use placemaking and high- quality apartment living has equipped us to deliver a design that will enhance the lives of residents and provide much-needed housing to Sydney.”
The project will add to Deicorp’s significant pipeline in the area, including Melrose Central in Melrose Park and the Cosmopolitan in Parramatta.
More broadly, Deicorp currently has 3,200 apartments under construction and a further 2,200 set to commence in the next 12 months.
“We’ve been encouraged by strong growth in purchaser inquiries and sales since the start of the year. We believe the fundamentals of property in Sydney remain positive, and that any housing we can build will find willing owners,” said Fouad Deiri, chair at Deicorp.
Deicorp is also fielding a 13% increase in enquiries from prospective purchasers, with sales up 28% in the first quarter of 2023, compared to Q4 2022.
Earlier in the year, MaxCap provided Deicorp Group with a first mortgage construction facility for its $185 million The Rothschild development in Rosebery.
“The strong sales and enquiries have seen several of our projects sell out before completion, including Tallawong Stage 1, The Banks in Rockdale and Proximity in Rouse Hill,” added Deiri.
Fender Katsalidis was appointed to the project following a jury-determined design competition held in consultation with the City of Canada Bay Council and the Government Architect NSW.
“Our business values strong design and high-quality amenity, and the winning entry from Fender Katsalidis delivers on both,” said Deiri.
“We are very excited to be bringing this beautiful building to Rhodes and creating more than 200 new homes for people to live in and enjoy.”
Fender Katsalidis recently made two new major appointments to its Sydney and Brisbane studios, in Jessica Lee and Angela Biddle.
Australian Property Journal is a member of The Australian Press Council.
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