Omada Property Group identified and negotiated a call option over an existing three level commercial office building in Sydney's highly sought after lower north shore suburb of Cremorne. Omada saw an opportunity to convert the existing office building to residential use to take advantage of the lack of residential development sites and tightly held lower north shore market.

The strategy involved making alterations and additions to the existing building envelope in order to retain the favourable setbacks of the existing structure, while creating a luxury apartment conversion. There were numerous complex challenges as a new DA would have required significant setbacks which would have rendered the project unfeasible. Omada were able to successfully manage the significant planning risk and design challenges presented and obtained Development Approval for 13 luxury apartments and 240m2 of ground floor retail space over five levels and one level of basement parking. Each apartment enjoys frontage to Parraween Street and a northerly aspect.

Omada took advantage of the very strong market for scarce residential development sites in the lower north shore and sold the site with DA Approval for a significant return to Sun Property who completed the development successfully.