Delivering a stunning, award-winning residential development
Abacus Property Group and Linear Group formed a joint venture to convert a 1935 industrial site into stylish block of residential units. Thinc was chosen to project manage this ambitious $35 million project on an historic, Art Deco site.
Originally occupied by the British GE Company and used to build electrical and manufacturing equipment. The project involved alterations and additions to the former workshops to create 135 apartments along with two retail spaces.
Apartment designs include terrace-style and double-storey ‘cross over’ layouts across five buildings, a number of which sit within the original steel framework, separated by two central courtyards.
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In addition to project managing this complex project, Turner & Townsend Thinc provided option analysis and development planning services, as well as undertaking feasibility studies, cash flow forecasts and indicative funding plans.
The project team also helped to overcome a number of complex design challenges, associated with the heritage-listed, industrial site. These included: overcoming site contamination issues, the integration of the heritage masonry façade and steelwork into the final design, and managing the staged handover requirements.
In close collaboration with the design team and real estate agent, Thinc undertook a detailed revenue optimisation process which resulted in an increase in realisable project revenue, whilst also reducing the cost of construction. This process should ultimately lead to greater returns for the joint venture.
The final result is a stunning, modern residential development that maintains the historic Art Deco building façade and incorporates the original gantry and crane used in the manufacturing of power and distribution transformers.
The development, which was delivered on time and on budget, is part of the regeneration of the Rosebery area, which is fast emerging as a creative and vibrant hub in Sydney.
The project was recently awarded an Australian Institute of Building (AIB) High Commendation for Residential Construction (between $10-$50 Million) and won the ‘Adaptive Re Use’ category at the Urban Taskforce Development Excellence Awards.
For further information visit http://www.powerhouseapartments.com.au/main.html.