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Fortis has finally won approval to undertake its luxury commercial project at Double Bay after it went through the NSW Land and Environment Court.
The developer will build five-storey Ruby House on an amalgamated 1863sq m site at 2-10 Bay Street it acquired in 2022 for $82 million.
Fortis associate director Ed Eve said the developer had recently received approval from the Woollahra Council for its latest development in the affluent inner-city suburb.
“We always believed in Double Bay’s potential to reassert its position as a vibrant town centre, and feel privileged to be driving this transformation, setting a new standard for development in this neighbourhood,” Eve said.
“The DA approval from Woollahra Council is testament to their confidence in Fortis, and we are grateful to have their support.
“Our completed commercial developments in Double Bay are 100 per cent leased, and most of them crossed this milestone several months prior to construction completion.
“We anticipate Ruby House will be no different, as we have strong interest from both retail and commercial groups that we look forward to announcing as partners in the coming months.”
Eve said the leasing activity demonstrated the appetite for premium office space in city-fringe locations. He said organisations were choosing to move closer to where their employees live and socialise.
“We have worked relentlessly to transform Double Bay over the past few years, especially by creating the thriving Bay Street Precinct, and our efforts are now coming to fruition.
“Ruby House will be our fourth commercial development to complete in the area, and we are confident that it will be yet another vibrant addition to the local community.”
Ruby House would comprise office space across five storeys, with retail on the ground floor, facing Bay Street and New South Head Road.
Lawton Hurley has been appointed lead architects on the project with interiors by Woods Bagot. The development will be funded by Pallas Capital.
The project will feature luxurious EOT facilities, open terraces to complement the office floors, and a large open terrace on the top floor with views out to the bay.
Construction on Ruby House is expected to be completed at the end of 2024.
