Benchmark Capital has reached a significant milestone at Rose Bay, with development approval secured for its residential investment in one of Sydney’s most tightly held harbourside markets.
Designed by PBD Architects, the approved project will deliver 19 residences approximately 200 metres from Rose Bay village and moments from the foreshore.
The project was approved under the NSW Government’s Low and Mid-Rise Housing Policy, which has created opportunities for additional housing in well-connected, amenity-rich areas across Sydney.
Rose Bay reflects Benchmark’s strategy of targeting opportunities in established locations where scarcity of developable land, strong owner-occupier demand and access to existing amenity support compelling long-term fundamentals.
Securing development approval represents an important de-risking milestone for the investment and enables Benchmark and development partner FYVE to progress the project into its next phase.
Fawaz Sankari, CEO of Benchmark Capital, said:
“Development approval is an important milestone for any investment of this nature. For Rose Bay, it gives us greater certainty around the pathway forward in a market where opportunities to deliver new, high-quality housing are exceptionally limited. It’s a strong step forward for the project and for our investors.”
With approval now secured, Benchmark will continue working with its project partners to progress Rose Bay towards delivery.
