By Aimee Chanthadavong

More retail opportunities are being created on one of Sydney’s most pedetrianised streets after property firm Fife Capital Group was given development approval by the City of Sydney for its proposed commercial and residential project at 383 George Street.

The $110 million project will include 4,200 square metres of retail space over four levels, as well as a 32 level residential tower.

To make space for these plans, heritage-listed Carlton House and Spiden House at 46-48 York Street will see international elements partially altered while the adjoining two buildings on George Street will be demolished.

While no retail tenants have been confirmed, there are suggestions the plans for a six-metre floor to ceiling shopfront on Ground level and a 450 square metre vertical shop frontage to George Street  will attract international retailers, including European apparel group H&M, Japan’s Uniqlo, British Retailer River Island and US-based Forever 21.

Knight Frank, director of retail leasing Alex Alamsyah is leasing the retail space for 383 George St but has declined to comment whether any these speculations are true. However he has said demand was strong for the location and property size.

According to the property’s website for the site, the building will form part of Sydney’s retail ‘Golden Frame’, which already consists of some of the city’s known shopping destinations such as The Strand Arcade, Mid City, Westfield City, Pitt Street Mall and department stores Myer and David Jones. It will also be neighbours to global retailers including Apple, Louis Vuitton and Burberry flagship stores.