Paddington stalwart and retail kingpin Robby Ingham's bid to improve a run-down pocket of the Oxford Street shopping precinct has received ringing endorsement - it sold out in its first five hours on the market.
Ingham spent four years acquiring five shopfronts making up The Cambrian at 432-440 Oxford Street, which was built in 1888 as retail and shop-top housing on a 1638sq m site.
And after witnessing the highs and lows of Paddington over the almost 40 years of retailing in the shopping high street, the launch of his boutique 15-apartment and retail mixed-use development to market was snapped up with vigour.
“It was not expected at all ... I am almost disappointed that they all sold so quickly,” Ingham said.
“I think if I had another 20 apartments they all would have sold.
“It just shows how hard it is to get anything like this in Paddington.”
With the help of development partners Avenor and the creative design work of MHNDUnion, Ingham plans to strip out the layers of detritus to reveal and restore the period charm of the shopfronts, and heritage apartments above.
He will also develop a three-storey 10-apartment complex at the rear of the property fronting Elizabeth Place with retail offerings at the base, creating a 340 sq m green square between the two buildings, which he plans to open up to the public during business hours and incorporate a wellness offering.
Ingham said he plans to retain the retail components of the developments in order to ensure the curation of the right flavour of tenancies and creation of community. It’s his first development and a passion project which came to life when he realised there was a swathe of disused land at the back of the shops.
It’s the only new development in Paddington to hit the market in the tightly-held shopping district of inner-city Sydney.
“Paddington became a really famous shopping street in the 80s and 90s,” Ingham said.
“It has been through its worst downturn over the past few years, but what you’re finding now is there is renewal and really interesting and varied retailers joining the community.
“The big thing for me will be getting the right mix of retail tenanicies in there. I've put my reputation on the line that I would create a great precinct that people would love to live in.”
Avenor chief executive Matthew Faddy said The Cambrian was a good example of the way Avenor added value to development projects from the boutique end to the top end of town.
“We’ve been working with Robby on The Cambrian since 2020 and we couldn’t be more delighted by the sales outcome over the weekend,” Faddy said.
“This project was a tricky one and I’m proud of how our team has been able to navigate through all manner of problem solving from securing a DA through to the incredibly successful marketing launch on the weekend.
“The Cambrian sits proudly amongst our workbook of Sydney projects including the likes of Atlassian Central and the East Walker Street project in North Sydney.”
Ingham said the heritage protections in the area ensured the suburb retained its authenticity, but it also meant it was almost impossible to buy into the suburb.
“Oxford Street used to be the main arterial road so there’s a lot of history there,” he said.
“It’s a very closed off area, it’s very hard to buy something new in there. There’s no multi-residential approvals in the pipeline in Paddington.
“Most of the buildings are still intact, and the five buildings that I have, I’m going to give back the heritage feel there. They haven’t had anything done, it’s been very much that retail thing where they put another shop fitting inside the existing one.
“One of the buildings I’ve renovated previously we had to go through 10 floor coverings.”
The one and two-bedroom apartments in The Heritage collection blend heritage features with contemporary living, while The Modern collection in the new three-storey building fronting Elizabeth Place has larger apartment typologies.
Ingham aims to get shovels in the dirt in April with completion slated for the end of 2024.
When asked if the sales success had whet his appetite for more developments Ingham said the hard work was just beginning on The Cambrian and he would spend the next two years focusing on its execution, a far cry from his family's chicken farming legacy, and his high street fashion label days.
