INNER WEST REPORT - ANNA MENDONCA

Even before the light rail came to town, developers were betting their bottom dollar that buyers would be unable to resist the charms of Lewisham.

Only eight kilometres from the CBD, nestled between the suburbs of Summer Hill, Dulwich Hill, Petersham and Leichhardt, Lewisham is one of the rising stars of Sydney's inner west, experiencing a 30 per cent rise in house prices last year. 

Most of the suburb's housing stock is Federation-era homes but, in keeping with the State Government's plans to increase housing density in the city, that is about to change.

Meriton is one of several developers with projects in the pipeline for Lewisham, marketing Luna, which will house 900 residents in 298 apartments over 10 levels. National sales director James Sialepis says: "For us, the attraction was the area and the lack of quality apartments in the area and the fact there is a real village vibe so close to so much amenity."

A "huge bonus" has been the light rail extension in March last year, which saw 5.6 kilometres added to the network linking Central to Dulwich Hill, with services running every 10 minutes in peak periods.

Meriton bought land in Lewisham in 2012,  after Marrickville Council's launch of the McGill Street Precinct master plan in 2011, which aimed to "transform" a former light industrial area into a "desirable locality where people will want to live and spend time in". 

Lewisham's new precinct

The McGill Street Precinct is a former light industrial area in Lewisham, about eight kilometres from the city.

In 2011 Marrickville Council launched a master plan to allow new residential and mixed use developments in the precinct, which is close to the Lewisham local neighbourhood centre, the railway line and light rail and is a 10-minute walk to Summer Hill's village.

The attractiveness of the master plan was enhanced by the completion of the light rail extension through Lewisham in March 2014, which has provided further public transport options to locals.

The plan has not been all smooth sailing, with some local opposition to the largest proposed development, Lewisham Towers, since renamed Luna.

However, a spokesperson for Marrickville Council says: "The approved development has many similarities with Marrickville Council's original plans for the site – a park, public walkways, a community meeting space, better access to the light rail and some affordable housing – provided through a voluntary planning agreement with the developer."

It was Lewisham's proximity to the city, its Federation-style streetscape and atmosphere that convinced Pauline Hogan to trade in her  1000 square metre-block in Riverwood for a new one-bedroom apartment in the inner-city suburb earlier this year.

"The public transport options are just fantastic. Being an older person, public transport is really important. It's a two-minute walk to the light rail from where I am, not even a five-minute walk to the train station. I can be in Newtown on the train in six minutes, or 10 minutes in the car to go to the Dendy Theatre to the movies."

Lewisham's Victorian heritge is also a delight. "When I go for a walk, I almost trip over my feet all the time because I'm looking at the houses."

But whilst Ms Hogan is a fan of Lewisham's historic streetscape, she is upbeat about the number and scale of developments planned for the area.

"I think it will bring in more infrastructure because at the moment there is only Summer Hill, which is lovely but sometimes it is just that little bit far away for the staples. I can see more little cafes or a little deli opening up there [near the station] because you are going to have so many more people coming through.

"That's all positive for me." 

Society, Hudson Street, Lewisham

The development will house 54 apartments, with a mix of designs for the one, two and three-bedroom apartments and a floor of penthouses.

BKA architects' design takes advantage of the planned park opposite, with most apartments enjoying a northerly aspect with park views. There will also be a rooftop garden and the building itself will feature warm materials, such as terracottas, to respond to the sunlight.

4.08/20 McGill Street, Lewisham 
$1.35 million

ALPHA is one of the major developments offering an alternative to the traditional Victorian streetscape of Lewisham. It has 68 apartments over five levels, with the upper floors offering double-level Skyhomes. Due for completion this month, the three-bedroom, three-bathroom north-facing Skyhomes were designed by Tony Owen Architects. The display home is available to view by appointment.

www.onsideproperty.com.au
www.marrickville-realestate.com.au
www.dulwich-realestate.com.au
www.summerhill-realestate.com.au

Anna Mendonca
Sales - 1300 938 931

Source: SMH