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Robby Ingham and Ben Stewart at today’s sales day for The Cambrian in Paddington.
Fashion icon Robby Ingham of the famous Ingham chicken family has achieved a rare feat in today’s property market — all the apartments in his $60m new development sold out in five hours.
Mums and dads from the lower north shore buying for their kids pounced on the $2.1m designer one-bedders while eastern suburbs downsizers and investors paid up to $4.5m for luxurious 103sqm two-bedders all one level.
In the popular suburb dominated by cramped multi-storey Victorian terraces, the uniqueness of Oxford Street’s The Cambrian, consisting of five large heritage apartments with 3.2m ceilings at the front and 10 modern units at the rear, made them incredibly popular.
“These apartments were so rare they’re like diamonds — brand new dwellings in the heart of Paddington with an unbelievable downstairs precinct of retail,” said sales agent Ben Stewart of Stewart Residential who was selling the apartments alongside CBRE.
The doors of the sales suite opened at 9am and they were all gone by 1pm. A lot of people missed out — Stewart had 95 appointments booked.
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Five heritage apartments with 3.2m ceilings will sit above Oxford St shops at The Cambrian.
There’ll be 10 new apartments above a curated retail precinct at the rear of the 1638sqm site.
Ingham will retain ownership of his “curated retail precinct in a European-style courtyard” at the rear and envisages a combination of “food and wellness — good eateries, yoga and pilates, that sort of thing”.
“It will be open to the public during business hours, so they’’ll be able to come there and rest after a day of shopping,” Ingham added.
Among the apartment buyers was top sales agent Alexander Phillips, the PPD Real Estate principal, who snapped up a $3m apartment at the back of the Brian Meyerson MHNDUnion-designed project as an investment. “It just made sense — there’s no other new apartments on offer in Paddington.,” he said.
Robby Ingham, who operated his ground-breaking men’s fashion store a few doors down Oxford St from The Cambrian new development for 32 years until 2016, is very passionate about the project and is delighted to have sold all 15 apartments.
Ahead of today’s launch day, he’d said yesterday: “The shopping strip is one of the most intact, but unfortunately it’s rundown,” he says.
The Cambrian is a Brian Meyerson MHNDUnion-designed project.
The buyers included mums and dads buying $2.1m apartments for their children.
“I’ve spent most of my life as a retailer there, so this is my opportunity to give Paddington the shot in arm that it needs.”
Ingham started buying up the five shops in the 140-year-old heritage shopfront, already called The Cambrian, along Oxford St from 2014 with the intention of creating the unique development on the 1638sqm site.
“I’m trying to get Paddington village restored … I want people to come and do some shopping and grab a cup of coffee in the courtyard and not have to sit in the street with the cars flying past,” Ingham said.
Yesterday, Stewart had said he intended to convert two of the two-bedders to three-bedders priced up to $8m. But at today’s launch day, most of the buyers wanted two bedders so he stuck to the original plan and sold 15 apartments rather than 13.
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- Source: https://www.realestate.com.au/news/robby-inghams-apartments-in-paddingtons-the-cambrian-sell-out-in-five-hours/