An old theatre that’s set to be converted into a luxurious designer residence has sold for a whopping $16.5m, setting a new residential record for Sydney’s Oxford St.
The heritage Diamond Horseshoe building in Woollahra, renamed Ox House, is the ultimate prize in The Woollahra Collection, a highly anticipated luxury development by Fortis Group which has its onsite sales launch day at 80 Oxford St tomorrow (Saturday).
But a professional couple have snapped up the 380sqm three-level space, to be redesigned by award-winning Melbourne-based interior design and architecture practice Mim Design.
Ben Stewart, of Stewart Residential and CBRE, says the $16.5m price smashes the previous Oxford St record of $14m for the penthouse in the redeveloped Woollahra Antique Centre two years ago.
RELATED: 80 VIP guests attend Woollahra Collection info night
“The buyers of Ox House are downsizing from a large home — they love Woollahra, Queen St, the access to Centennial Park and this is a beautiful offering.”
But there are still plenty of residences on offer at today’s on-site launch on the corner of Oxford St and James St.
These include a good selection of stunning whole-floor apartments with underground parking priced from $4m and terrace homes with private internal lifts and parking priced from $5.5m to $7m.
Stewart anticipates a busy day. “We have a lot of interest and I think it’s going to be very strong .. people are fully aware that it’s rare to have brand new apartments in Woollahra and Paddington and the level and detail and finish in these apartments and terrace homes is first class and very bespoke.”
MORE:
Roxy Jacenko’s mansion up for auction
‘A lot of action’: where auctions are hot again
Miriam Fanning of Mim Design says converting the old theatre — which had many lives in the past ranging from a cabaret theatre, dining theatre to a private club but disused for decades — into a residence posed a unique set of challenges.
“When you’re working within an existing building, you have to think differently about design,” she said.
Being heritage, the brick walls had to be retained. “A rich tapestry, the site exudes a great volume of space and warmth over three levels.”
Jeremy Bull, of Alexander & Co, said the apartments will have 2.9m high ceilings. “The brief was to create house-like offerings, work that’s uncommon and timeless … our hope is that in 50 years it will look no different from the way it’s been conceived today.”
According to PropTrack, the median house price in Woollahra is $5.05m, down one per cent over the last 12 months.
MORE: Massive sale breaks beachside record
House with 3 homes reveals buying secrets
Bizarre room in Kyle Sandilands $100m+ wedding mansion
Originally published as The Woollahra Collection’s Ox House sells for $16.5m setting Oxford St residential record
Read related topics:SydneyncG1vNJzZmivp6x7r7HWrGWcp51jrrZ7xaKlmqaTmnyzscClZJ6rpJbBpnvToZxmr5%2Bkua2tx6uYZpufobmmr9OipqerXaTFbrTOrqqeZaOaua2%2FjJ%2Bmq2Vha4KuedKeq62hnpx6sMTFqKmdZaOperOx0qKbnqaknq6tedSnoK1lopqwsL7DaKWer6NiwLW70bJmbZqWZYCngpKaam9xaZiyd7LDaWybcGFugnOukm1vcJw%3D