Dare Property Group is selling a Fitzroy site permit-ready for a six storey building.
The Sydney based developer, led by Danny Avidan, who is married to designer Charlie Brown, can expect over $5 million for the 398 square metre holding at 235 Napier Street, on the south east corner of St David.
It picked up the property, with a 320 sqm showroom, in 2021 then obtained permission for a 44 suite hotel over a two level basement car park.
Late last year, the group repurposed the use to residential, and redesigned the approved shell for 14 dwellings.
Mr Avidan – a high profile former fashion executive – controls brands including Howard Showers, Hollywood Fashion Tapes and Charlie Brown.
Dare, with Charles Mellick’s Fortis, is also co-developing a project on a Wunulla Road, Point Piper, block purchased for $39m in 2021 (story continues below).
Elsewhere in the inner north, the group is behind Collingwood’s six storey, 2000 sqm Zero Gipps office – which was also listed for sale, in March, with $20m-plus price hopes.
In Sydney, its portfolio includes residential projects at Bronte, Surry Hills, Tamarama and Vaucluse.
Any incoming owner of 235 Napier St could also use a new building for serviced apartments, student accommodation or a co-living investment, Cushman & Wakefield’s Daniel Wolman, who is representing Dare with Alexander Leggo, Marcus Neill and Leon Ma, said.
The ground level of any project could also be configured with retail, he added.
The listing comes seven months since Neometro – which was responsible for some of Fitzroy’s earliest high density projects two decades ago – bought a warehouse at 450 Gore St, in the suburb, for a residential project with 23 units.
In 2021, meanwhile, Beulah acquired a 1190 sqm holding, 430-434 George St, again for an apartment complex.
Also two years ago, Piccolo snapped up an ex-Australia Post distribution centre, and, two months later, neighbouring warehouses, for a residential project now being marketed with units up to $7m.
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