Market Insights EP69: TOGA’s Anthony Falas Discusses Surry Hills Village Development with Mike Bird

In Market Insights EP69, Anthony Falas, Director at TOGA, joins Mike Bird from Urban.com.au to explore the Surry Hills Village development—a major project transforming the heart of Sydney's Surry Hills. With a focus on integrated development, TOGA has created a dynamic mix of apartments, retail spaces, and commercial properties. The project also includes a high-end hotel and features a vibrant retail precinct called Wonder Lick Lane.

The Vision for Surry Hills Village

Anthony explains that when TOGA acquired the site 8 years ago, it was a dilapidated area with limited retail offerings and a large car park. The vision was to revitalize the space into a thriving urban hub. Today, Surry Hills Village features a mix of luxury apartments, vibrant retail outlets, and strategic commercial spaces, along with a full-sized Coles and Harris Farm bringing energy to the precinct.

A Focus on Oversized Apartments

The project has been designed with a strategic focus on space, particularly with the two- and three-bedroom apartments. Anthony highlights that even the two-bedroom units average 85m², while the three-bedroom apartments are a generous 130m²—catering to a market that values extra space. This was a deliberate move to meet the needs of empty-nesters and more sophisticated buyers looking for larger homes.

Who’s Buying at Surry Hills Village?

Despite buyers coming from across Sydney, Anthony Falas notes that the core buyer demographic is local, typically within a 3km radius of the project. The development has attracted owner-occupiers seeking a premium lifestyle in a revitalized neighborhood. Buyers are primarily those familiar with the area, as well as empty-nesters and a small percentage of overseas buyers. With most of the apartments sold, the remaining stock consists of two-bedroom apartments, a few three-bedroom units, and a penthouse—the last of its kind in the development.

Strategic Amenities & High-Quality Finishes

One standout feature of the development is its minimal but high-quality amenities, designed to avoid high strata costs. TOGA focused on providing well-designed finishes in all apartments while keeping ongoing costs manageable for residents. With its close proximity to Sydney CBD and the thriving local retail and hospitality scene, Surry Hills Village offers a vibrant and desirable place to live.

Long-Term Growth Potential

Anthony concludes by noting that larger three-bedroom apartments in developments like Surry Hills Village are in short supply, making them a valuable asset in the long term. The combination of high-end finishes, strategic location, and sizable apartments positions Surry Hills Village as a strong candidate for price growth in the future.

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