Oxford Street's long-awaited north-side redevelopment is finally taking shape, with its first tenants set to begin moving into the new Oxford & Foley precinct from next month, according to developer TOGA.
The $200 million project – located along Oxford Street between Riley Street, near cocktail bar The Cat's Meow, and just past Palmer Street near Palms nightclub – has faced a long road to completion.
But TOGA now says the precinct is entering its next chapter, with staged handovers to commercial tenants happening over the next several months.
"Exciting progress is unfolding at Oxford & Foley, with the first wave of office and retail tenants in Building 1 (West) preparing to take possession in June 2025 to begin their bespoke fitouts," a TOGA spokesperson told Gay Sydney News.
"This milestone marks a significant step forward, soon to be followed by the rollout of Building 2 (between Crown and Palmer Street) by October 2025, and then the final stage on Building 3 (East) for late 2025."
Retail tenants previously linked to the development include Mapo Gelato, fashion label Alpha60, and a new two-storey venue combining live entertainment with a culinary offering.
The development also includes a dedicated retail laneway running behind the main strip on Foley Street, designed to add a more intimate and walkable experience to the precinct.
Lune Croissanterie – renowned for its croissants – had also planned to open a store at the site, but construction delays led it to launch in Rosebery instead. Sony Music and tech start-up Dovetail have likewise been named as future occupants.
"There are still limited leasing opportunities for office and retail spaces, however the precinct is coming to life, with momentum building across all fronts," the developer said.
The city originally constructed the buildings following the widening of Oxford Street from 1911, and has since leased the properties long-term to private equity real estate firm Ashe Morgan, whose property and development partner is TOGA.
Lord Mayor Clover Moore told Gay Sydney News the City of Sydney remained committed to revitalising Oxford Street and celebrating its heritage – with planning rule changes and support for cultural projects like Qtopia forming part of that broader effort.
"From the introduction of planning rules and floor space incentives to encourage a vibrant mix of new development and protecting important heritage, to grants for cultural projects like Qtopia, we are continuing to breathe new life into the iconic strip," she said
"This project will activate more than 12,000 square metres of floor space for a diverse range of uses, bringing hundreds of jobs to the area," she said.
Oxford & Foley's journey hasn't been without setbacks. In a December 2023 story, Gay Sydney News reported that the revamped strip was expected to be ready by mid-2024. Before that, the project had originally been slated for completion by mid-2023.
But by February this year – just weeks before the Sydney Gay and Lesbian Mardi Gras parade – the area was still lined with hoarding. While construction on the buildings was under way, the City of Sydney’s cycleway being built out front brought its own delays and challenges.
Also in February, Gay Sydney News observed that holes in the ground and barricades remained along Oxford Street's north side due to ongoing work on the bicycle lane. The road was temporarily resurfaced just in time for the parade, only to be dug up again once Mardi Gras had finished.
Moore said the disruption had been anticipated and budgeted for from the start.
"Prior to commencing the project we knew that we were going to have to shut down operations, remove all barricades, construction equipment, and make the area safe ahead of the Mardi Gras parade," she said.
With building access for developers no longer as critical, the city says its own work on the cycleway is now progressing toward completion.
“Timing for the completion of the cycleway was contingent on the Oxford Street property completion,” Moore said.
"Now that access isn't as critical we're progressing construction, with work expected to be completed in the coming months, weather and conditions permitting."
The cycleway is expected to support one of the city's busiest bike routes, where nearly 3000 trips are made daily – a number the city expects to double in coming years.
While businesses previously said the drawn-out works had caused major disruptions, including reduced foot traffic, the hope now is that Oxford & Foley will deliver on its promise: a revitalised cultural, commercial and creative heart for Sydney's queer precinct.
Ben Grubb is the founder and editor of Gay Sydney News, an independent publication covering LGBTQIA+ news. A journalist with more than 15 years' experience, he has reported and edited for The Sydney Morning Herald, The Age, WAToday, Brisbane Times, The Australian Financial Review, News.com.au, ZDNet, TelecomTimes and iTnews, primarily on the topic of technology. He previously hosted The Informer, a queer current affairs program on Melbourne’s JOY 94.9 radio station, and contributes to LGBTQIA+ media including Stun Magazine. Ben has also appeared as a technology commentator on Channel Ten's The Project, ABC RN’s Download This Show and commercial radio stations 2UE, 2GB and 6PR. Contact Ben: [email protected]
