National Policy Manager of Cities, Housing and Planning for Property Council Australia, Collin Jennings and AVID Property Group, owner of Surry Hill’s $55 million, terrace-style luxury residential and retail complex – The Rathbone – celebrated turning the first sod for the new development onsite at 10am on Monday 28 September.

AVID Property Group Chief Executive Officer Cameron Holt said the development would provide close to 160 construction jobs and stimulate the local economy – the project would also diversify AVIDs product offering to meet consumer demand.

“After achieving successful presales of more than fifty per cent, and securing a premium hospitality anchor tenant – we’re excited to kick off construction today in an industry that’s currently seeing a shortage of apartments in the inner suburbs of Sydney .

“Dwelling approvals have dropped by 14.8 per cent in New South Wales and we need to be able to meet the demands for apartments, which is why it’s such an exciting time to break ground on The Rathbone today.”