Bruce is about to lose his views to the developer nearby. But what are they worth?

March 19, 2025 journo

Sydney residents have some of the world’s best views, but how much are they worth to property owners?

For Bruce Cox, who as a young student was part of the 1970s green bans movement that angrily opposed some of the worst developments slated to raze Sydney’s treasured heritage streetscapes, his views could be worth millions.

Today, Cox, aged 74 and a retired architect, finds himself protesting development in a prized conservation area of Woolloomooloo.

Bruce Cox on the balcony of his fourth-floor apartment in Woolloomooloo.

“It’s ironic that we’re meeting there with planners who don’t seem to know any of the history,” he said.

The proposed development is in one of Sydney’s most historic inner-city suburbs, replacing a two-level commercial block that serves as the headquarters for developer Rose Group with a much bigger 25-metre, five-storey building.

Apartment residents have commissioned a professional view loss analysis, which shows there will be an impact on the outlooks many bought into the building for. The financial report has predicted that the building’s value could plummet by as much as $21 million.

The City of Sydney is recommending approval of the plan for 47-51 Riley Street, which was sent to the NSW Department of Planning for a Gateway determination. This allows conservation planning restrictions to be axed in the interests of promoting investment, business and employment opportunities.

Plans for a smaller building were all turned down previously by the City.

This latest proposal is on public exhibition, with a petition against it signed by 175 locals from nearby buildings, including the 88-unit Paramount Apartments, where Cox lives, directly to the south, Crown Gardens, Park Lane Towers and The Riley Apartments.

Rose Corp director and co-owner Stuart Rose said his company had owned that building for more than 20 years, and was there first, before Paramount was built in 2005.

“I know there are some local residents who are objecting to the plan, but we find that everywhere. People don’t like change,” he said.

“We are just using the planning process to make a planning application to increase the requirements for commercial in the area. It certainly doesn’t impact any shadowing requirement from planning perspectives, and there are only a small number of people whose minor local views would be impacted.”

One of Cox’s neighbours in the Paramount on Riley and William Street, company CFO David Cuda, said there was anger that the City was supporting the Gateway approval proposal.

“This building will be so out of character for the conservation area and will have a massive impact on the streetscape,” he said.

A City of Sydney spokesperson said it was considering feedback received as it assessed the request, and its findings would be reported to council and the Central Sydney planning committee for a final determination.

“If council approves this planning proposal after public exhibition, it can amend the Sydney Local Environmental Plan 2012 on behalf of the Minister for Planning and Public Spaces,” the spokesperson said.

“If approved, a development application would then separately need to be submitted for the detailed design of a building on the site.

“These studies would also be assessed by City of Sydney staff and placed on public exhibition, with the community again invited to provide feedback. Separately, in December 2023, council endorsed a draft proposal to adjust conservation area boundaries in a number of different locations across the local area.”

Architect Ray Hudson said he would lose much of his gun-barrel views of Woolloomooloo Bay, the NSW Art Gallery and the Domain.

“Before we bought here, we looked at the zoning and the conservation area and assumed that would give us protection with the current controls,” Hudson said.

Hudson said more commercial buildings simply aren’t needed in the area and that there was plenty of empty office space in the nearby CBD.

Ray Hudson in his 6th floor apartment in front of his view of the Art Gallery, Woolloomooloo Bay and the Domain.

Another Paramount apartment owner, retired asset manager Kerry Wade, said “the City has turned down a lot of earlier proposals, so it’s laughable that they’ve agreed to back this one.

“This will form a precedent for the rest of the area, with other buildings perhaps applying to go up too, and this will possibly be a precedent for other conservation areas as well. This is the thin edge of the wedge. We’re all very angry that this could be allowed to happen.”

Local state government member Alex Greenwich has added his objections.

“I’ve been contacted by a large number of residents who are worried that the proposed changes will significantly reduce liveability in their homes and the amenity, heritage values and character of their neighbourhood,” he said.

“The housing affordability crisis requires us to not only build liveable apartments but to also protect the liveability of existing ones. Without such safeguards, apartment living would become a risky investment and unsustainable.”

Most Viewed in Property