Iris Capital is pleased to announce the appointment of Decode Group as the builder of its landmark Potts Point mixed-use development.
Queensgate is comprised of 5 unique buildings designed by Tonkin Zulaikha Greer and Panov Scott and will include 48 luxury one, two & three bedroom and penthouse apartments, a 65 room luxury hotel, ground floor retail including a through site link and 4 levels of basement parking. Each building will feature their own personality and character, with designs that were crafted with significant input from the Council and local community to restore and reinvent the classic architecture that defines Darlinghurst Rd and Macleay Streets as the Parisian quarter of Sydney. Extensive retention of the key heritage elements will link Queensgate to the rich history of the area’s colourful past and cosmopolitan lifestyle.
Iris is proud to partner with Decode again, having already worked together to deliver a mixed use development of exceptional quality earlier this year in Homebush. Sam Arnaout, CEO of the Iris Capital Group, said “Today’s announcement sees the continuation of our strong partnership with Decode that will see our Queensgate development at Potts Point come to life. It’s no secret that post COVID, the current environment is challenging for developers and builders alike – the impacts of materials and labor supply issues, rising intertest rates and costs – its critically important to have the right builder as a partner who you can trust, know has a track record in delivery, is iCIRT rated and has attention to detail second to none … for all these reasons we look forward to again working with Decode to deliver this generational project.”
Decode Group’s Founder and Chairman, Sam El Rihani, said “All of us at Decode are delighted to be working with the Iris team again. We are proud of the excellence we delivered in partnership with Iris at Homebush and it’s our privilege to partner again for Queensgate, Potts Point. We have an exceptional track record of constructing high end residences and working with heritage elements with award winning projects like Grande Pyrmont Bay Estate and Burwood Grande. And we’re confident and eager to deliver the same at Queensgate. This is a landmark project for Iris Capital, for us and for the City of Sydney given its prominent location and cultural & heritage significance.”
With 7 levels of heritage façade to retain, a boutique demolition plan has been devised as part of early works which will ensure no damage is done to the historic frontage. The project has seen a strong response from the property market since its debut including a penthouse apartment valued at $16m.