Starfish acquires CBD site
Starfish Developments has acquired a prime CBD development site at the intersection of Morphett Street, Whitmore Square and Wright Street for a new residential apartment project.
The 1950 square metre site, which has sat empty for over 20 years, is located in a prime location within walking distance of Gouger Street, Riverbank precinct and the heart of the CBD.
The acquisition follows the success of Starfish Developments joint venture on Vue on King William, and independent apartment and townhouse developments in South Australia and Western Australia.
Starfish Developments has built a great relationship with architects Woods Bagot and have now instructed them to design the new Whitmore Square project with a development application expected to be lodged by the end of the year.
Starfish Developments Managing Director Damon Nagel said Starfish Developments was delighted to have acquired this prime site as it provided an opportunity to reactivate the north-eastern side of Whitmore Square.
“It’s a great site with the potential to create another landmark residential apartment project for Adelaide,” said Mr Nagel.
“The South Australian apartment market is maturing and we’re determined to support its development by continuing to raise the bar with well located, well designed and sensibly priced projects.
“Starfish Developments has assembled a world class project team to work on the project and in particular we’re excited to have Woods Bagot on-board again.
“We’ve also just appointed a Project Manager to oversee our developments in South Australia and interstate as the firm grows.”
Starfish Developments is currently completing work on Chestnut Crescent, a 40 townhouse precinct at St Clair, and has just commenced construction on Avenue, a 5-storey development with 59 spacious apartments, also at St Clair. Both have been fully sold.
In Western Australia, Starfish Developments will shortly commence construction on Marina Drive Apartments - 35-apartment development at Ascot Waters.
The firm’s rapid growth has been driven by the desire to create buildings and residences that will raise the bar to create intelligently designed high density living projects in Adelaide. Like most developers, Starfish Developments Managing Director Damon Nagel and his team started small, cutting their teeth with townhouse projects in Blake’s Crossing in Adelaide’s north then St Clair in the western suburbs.
However, unlike most new developers, Damon and the Starfish team already had decades of property experience, both in Australia and overseas.
This property industry experience along with a clear vision has meant that in their first official year, Starfish Developments has been able to quickly springboard from small townhouse precincts to large scale apartment developments.