17 May 2025
Fortis has snared a record price for the first apartment sold at its new Regency House development in inner-Sydney’s Elizabeth Bay, the deal worth more than $90,000 per square metre for the three-bedroom unit that takes in sweeping harbour views.
The sale of the $12.8m unit sets a price precedent for the block of 20 that fronts 21C Billyard Avenue, Elizabeth Bay. It had taken Fortis two-and-a-half years to win planning approval in the tightly held inner city suburb. Marketing agent Ben Stewart of SRM Residential said it was extremely rare to get projects approved in the popular suburb. “There’s no new stock coming up and it’s a tightly held suburb,” Mr Stewart said, adding that Regency House would cover a whole block, stretching from Onslow Avenue to Billyard Avenue, and would reach heights of up to seven storeys.
The buyer, who had previously purchased in a neighbouring high end luxury development, recognised the rarity and investment potential of Regency House, and secured this residence as a strategic acquisition.
Fortis warned that as planning restrictions in the City of Sydney were tightening significantly, and dwelling reduction clauses were now in effect which prohibit the redevelopment of many built-form sites where a net dwelling loss would occur, the Regency House development may be one of the last opportunities to secure new, ultra-luxury apartments in Sydney’s eastern suburbs.
While Fortis developments have traditionally appealed to downsizers trading in large family homes for luxurious, low-maintenance living, this project is already attracting a broader market. All apartments have three bedrooms, two-and-a-half bathrooms two car spaces. Prices start at the early $4m mark, although the price for the penthouse is yet to be set.
Fortis sales manager Katie Fisher said, given the development approval was in place, “we’re seeing strong interest from prequalified buyers, particularly those seeking larger residences and aware this may be one of the last opportunities of its kind in this highly sought after area”. “Northeast facing with stunning views, Regency House combines the peace and privacy of harbourside living with immediate access to the vibrant retail and dining scene of Potts Point,” she said. “It’s a rare lifestyle offering in the east – and buyers know it.”
Fortis Head of Acquisitions John Yacoub said due to the introduction of new dwelling reduction clauses in City of Sydney local environmental plans, acquiring sites and securing approvals for developments in the area had become incredibly difficult. “Regency House represents one of the last opportunities for buyers to secure a brand-new residence of this quality in Elizabeth Bay,” Mr Yacoub said.
Close to the Elizabeth Bay harbourfront and 500 metres from the dining and cultural hub of Potts Point, Regency House offers a lifestyle of quiet refinement with immediate access to some of Sydney’s most vibrant food, retail, and entertainment amenities.
With select residences featuring expansive northeast-facing harbour views, the project combines a serene harbourside setting with the convenience of city-edge living, appealing to those budding buyers who want both sanctuary and sophistication.
Designed by Smart Design Studio with interiors by Arent & Pyke and landscaping by Wyer & Co, Regency House is defined by architectural distinction and quiet sophistication. Among its many features, Regency House offers residents a private full-floor wellness amenity, including a state-of-the-art gym, sauna, steam room, ice bath and rooftop terrace, bringing the atmosphere of a five-star retreat into everyday living.
Demolition works will begin shortly, with completion anticipated for late 2027. A formal public sales campaign is planned for August 2025.
For enquiries, please contact our dedicated sales managers Niki Filipovic 0431 479 169 or Johnny Marusic 0411 485 607.
