Oxford St Development? There’s a drink in that says, Billionaire barman Justin Hemmes
Developers and food and beverage operators including one billionaire publican are ready to pounce on the proposed Oxford St revitalisation plan.
It was in February 2014 that billionaire barman Justin Hemmes purchased The Paddington on Sydney Oxford’s St after thinking to himself something along the lines of ‘I see a drink in that’.
Seven years later, after seeing the venue through the end of lockout laws and keeping the doors open during two years of the pandemic, the Sydney night-life king still sees a drink in the area, so much so he is tipped to splurge even more into Oxford St’s proposed revitalisation.
The Merivale chief is among several property developers holding out for a slice of the City of Sydney’s proposed plan to breathe life into a once vibrant strip.
The multimillion-dollar redevelopment will unlock about 53,500sq m of space on the roofs and in the basements of existing heritage-listed buildings to help transform the area into a creative and cultural precinct.
Mr Hemmes said he looked forward to seeing the plans come to light in an area he has long enjoyed.
“I have a lot of nostalgic, fond memories of Oxford St in its heyday,” he said. “Since we opened our venues, The Paddington, Fred’s, Charlie Parker’s and The Chicken Shop, we’ve seen first-hand how the area has been returning to a vibrant, village-like feel, with varied and bespoke retail together with great hospitality offerings. We have a lot of faith in Paddington and always look to further invest in the area.”
Under a plan titled “How you can help Oxford St keep its vibe” delivered late last year, the council called for Sydneysiders’ best pitches while detailing its own plans for an upgraded area.
The plan highlighted the transformation of the area between Hyde Park and Greens Rd into the Oxford Street creative precinct. Developers would be able to build between two and four storeys on top of existing buildings if 10 per cent of the total floor space was designated to a creative or cultural activity.
In total, that would result in 11,000sq m of space designated to transforming basements into creative small retail spaces. The council says it wants design studios, recording studios and fine art space under the street level. It would also see 42,5000 sq m of employment floor space.
Sydney mayor Clover Moore said it was clear Oxford St’s history needed to be preserved, but a facelift was important.
“Renewing our planning rules will help reinforce Oxford St’s creative and cultural possibilities,” Ms Moore said. “We’re committed to building on its reputation as an iconic gay and lesbian precinct and a centre of buzzing activity both day and night, with space for thriving businesses, creatives and culture.”
According to a council survey conducted in 2020, 93 per cent of respondents supported transforming the area into a “creative and cultural precinct”; 80 per cent said Oxford St was of “social and cultural importance”; 83 per cent said the LGBTIQ community are central to Oxford St’s identity; and 88 per cent supported the planning approach.
The plans to redevelop Oxford St arrive ahead of the upcoming WorldPride LGBTQI festival next year.
On Monday, NSW Arts Minister Ben Franklin announced that the government had pledged $1m worth of grants to support upcoming works ahead of the event.
“This time next year, Sydney will be host to one of the biggest LGBTQIA+ festivals in the world, and the NSW government’s $1m in support for arts and cultural programming at the Sydney WorldPride Festival will provide a huge boost to the state’s economy,” Mr Franklin said.
The Australian Hotels Association said it welcomed the plans, which it hoped would have a positive effect on the food and beverage industry.
“The strip has been probably one of the most affected during Covid due to the nature of the venues,” AHA’s John Green said.
“I think people have identified that it really does need some work, so to be able to rejuvenate the area is vital for the precinct. It’s well overdue for a revamp and I think the plans that have been put to council are really exciting.”
Mr Green said he had been in talks with the CEO of the Pride Festival and that there were big plans for Sydney to come.
Mr Hemmes agreed with the AHA, saying that a hospitality-led recovery would help return the area to its once famed status. “After the recent hardships affecting customer-facing businesses, I believe a hospitality-led recovery for the Oxford St strip is vital to realise the incredible potential of the area,” he said.