Latest news with #Sanctum
The Advertiser
2 days ago
- Business
- The Advertiser
$17 million plans in the works for central Darby Street site
A central Darby Street site could be transformed into a mixed-use residential development as part of new $17 million plans. A development application has been lodged with Newcastle council for a four-storey residential building with 29 units and two commercial spaces at 113-125 Darby Street. The site includes the former Darby Raj space, cafe Sanctum, WIA Store, retail shop Guanabana and bar 5 Sawyers as well as an open-air car park. Documents lodged with the application said as approximately half of the site was occupied by the 22-space open air car park, the "highest and best use of the site is not being achieved". Parking is an issue for Darby Street traders, which has been exacerbated by the expansion of the Newcastle Art Gallery and its construction workers taking up spaces. The newly lodged proposal includes a 43 space basement car park consisting of 37 residential spaces and six commercial parks. The main vehicle entrance would be on Railway Street leading to the basement level carpark, and a one-way service lane is also proposed connecting to both Railway and Darby streets. Numerous plans have been floated for the site previously. The most recent, lodged in 2018, was also for a four storey mixed-use development with 29 units, but was withdrawn in 2020. That proposal drew dozens of objections due to the scale of the development and impacts on the narrow Railway Street. The height of the previous proposal was 14.986 metres, which exceeded the 14 metre allowed height for the site. The highest point of the new proposal is 13.924 metres above the natural ground level, according to planning documents. Two lift shaft overruns and a small section of roof exceed the building limit, but are considered to be exempt from inclusion in building height. The development design is separated into two separate buildings. Each four-storey building would front either Darby Street or Railway Street, with a central courtyard. The site is within the Cooks Hill Heritage Conservation Area, but doesn't include any heritage items. The development proposal comes amid a renewal of several key Darby Street sites, including the recently completed remodel of The Del and ongoing transformation of the former Finnegans Hotel. A central Darby Street site could be transformed into a mixed-use residential development as part of new $17 million plans. A development application has been lodged with Newcastle council for a four-storey residential building with 29 units and two commercial spaces at 113-125 Darby Street. The site includes the former Darby Raj space, cafe Sanctum, WIA Store, retail shop Guanabana and bar 5 Sawyers as well as an open-air car park. Documents lodged with the application said as approximately half of the site was occupied by the 22-space open air car park, the "highest and best use of the site is not being achieved". Parking is an issue for Darby Street traders, which has been exacerbated by the expansion of the Newcastle Art Gallery and its construction workers taking up spaces. The newly lodged proposal includes a 43 space basement car park consisting of 37 residential spaces and six commercial parks. The main vehicle entrance would be on Railway Street leading to the basement level carpark, and a one-way service lane is also proposed connecting to both Railway and Darby streets. Numerous plans have been floated for the site previously. The most recent, lodged in 2018, was also for a four storey mixed-use development with 29 units, but was withdrawn in 2020. That proposal drew dozens of objections due to the scale of the development and impacts on the narrow Railway Street. The height of the previous proposal was 14.986 metres, which exceeded the 14 metre allowed height for the site. The highest point of the new proposal is 13.924 metres above the natural ground level, according to planning documents. Two lift shaft overruns and a small section of roof exceed the building limit, but are considered to be exempt from inclusion in building height. The development design is separated into two separate buildings. Each four-storey building would front either Darby Street or Railway Street, with a central courtyard. The site is within the Cooks Hill Heritage Conservation Area, but doesn't include any heritage items. The development proposal comes amid a renewal of several key Darby Street sites, including the recently completed remodel of The Del and ongoing transformation of the former Finnegans Hotel. A central Darby Street site could be transformed into a mixed-use residential development as part of new $17 million plans. A development application has been lodged with Newcastle council for a four-storey residential building with 29 units and two commercial spaces at 113-125 Darby Street. The site includes the former Darby Raj space, cafe Sanctum, WIA Store, retail shop Guanabana and bar 5 Sawyers as well as an open-air car park. Documents lodged with the application said as approximately half of the site was occupied by the 22-space open air car park, the "highest and best use of the site is not being achieved". Parking is an issue for Darby Street traders, which has been exacerbated by the expansion of the Newcastle Art Gallery and its construction workers taking up spaces. The newly lodged proposal includes a 43 space basement car park consisting of 37 residential spaces and six commercial parks. The main vehicle entrance would be on Railway Street leading to the basement level carpark, and a one-way service lane is also proposed connecting to both Railway and Darby streets. Numerous plans have been floated for the site previously. The most recent, lodged in 2018, was also for a four storey mixed-use development with 29 units, but was withdrawn in 2020. That proposal drew dozens of objections due to the scale of the development and impacts on the narrow Railway Street. The height of the previous proposal was 14.986 metres, which exceeded the 14 metre allowed height for the site. The highest point of the new proposal is 13.924 metres above the natural ground level, according to planning documents. Two lift shaft overruns and a small section of roof exceed the building limit, but are considered to be exempt from inclusion in building height. The development design is separated into two separate buildings. Each four-storey building would front either Darby Street or Railway Street, with a central courtyard. The site is within the Cooks Hill Heritage Conservation Area, but doesn't include any heritage items. The development proposal comes amid a renewal of several key Darby Street sites, including the recently completed remodel of The Del and ongoing transformation of the former Finnegans Hotel. A central Darby Street site could be transformed into a mixed-use residential development as part of new $17 million plans. A development application has been lodged with Newcastle council for a four-storey residential building with 29 units and two commercial spaces at 113-125 Darby Street. The site includes the former Darby Raj space, cafe Sanctum, WIA Store, retail shop Guanabana and bar 5 Sawyers as well as an open-air car park. Documents lodged with the application said as approximately half of the site was occupied by the 22-space open air car park, the "highest and best use of the site is not being achieved". Parking is an issue for Darby Street traders, which has been exacerbated by the expansion of the Newcastle Art Gallery and its construction workers taking up spaces. The newly lodged proposal includes a 43 space basement car park consisting of 37 residential spaces and six commercial parks. The main vehicle entrance would be on Railway Street leading to the basement level carpark, and a one-way service lane is also proposed connecting to both Railway and Darby streets. Numerous plans have been floated for the site previously. The most recent, lodged in 2018, was also for a four storey mixed-use development with 29 units, but was withdrawn in 2020. That proposal drew dozens of objections due to the scale of the development and impacts on the narrow Railway Street. The height of the previous proposal was 14.986 metres, which exceeded the 14 metre allowed height for the site. The highest point of the new proposal is 13.924 metres above the natural ground level, according to planning documents. Two lift shaft overruns and a small section of roof exceed the building limit, but are considered to be exempt from inclusion in building height. The development design is separated into two separate buildings. Each four-storey building would front either Darby Street or Railway Street, with a central courtyard. The site is within the Cooks Hill Heritage Conservation Area, but doesn't include any heritage items. The development proposal comes amid a renewal of several key Darby Street sites, including the recently completed remodel of The Del and ongoing transformation of the former Finnegans Hotel.
Associated Press
17-03-2025
- Business
- Associated Press
Bybit Introduces Margin Staked SOL, Balancing Earning Potentials with the Power of Leverage
DUBAI, United Arab Emirates, March 17, 2025 (GLOBE NEWSWIRE) -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of Margin Staked SOL, an innovative product designed to help users optimize their SOL earnings through leveraged borrowing and staking. With the ability to leverage up to a healthy level of 2x, users can now tap into the demonstrable yield potential of bbSOL, potentially unlocking greater earning opportunities. As of Mar. 17, 2025, the net APR of Bybit Margin Staked SOL on Bybit stood at over 13%. Bybit's Margin Staked SOL redefines earning opportunities on SOL. With the potential to grow SOL holdings by leveraged borrowing and staking, Bybit users stand to significantly enhance on-chain rewards through bbSOL. The platform is designed for a hassle-free experience, allowing for easy borrowing, staking, and earning all in one place. This streamlined approach eliminates the complexities often associated with managing multiple accounts or services. Additionally, users are afforded the flexibility to redeem bbSOL for SOL at any time in two ways—they may opt for Instant Redemption where users can receive their SOL immediately with no gas fee, or for Postponed Redemption for a better exchange rate compared to instant redemption without the gas fee waiver. Both redemption mechanisms ensure user control over their assets and allow them to adapt their strategies as needed. How Bybit's Margin Staked SOL Works: Staking SOL: Users may stake SOL into Margin Staked SOL, enabling the system to automatically borrow funds based on the selected leverage. Earning bbSOL: In return for staking, users will receive bbSOL, Bybit's Liquid Staking Token, as proof of the staked SOL. Yield Accrual: Users may lock in to grow their bbSOL through optimal rewards allocation managed by Sanctum's smart contract. Flexible Redemption: bbSOL can be freely redeemed for SOL with any remaining SOL credited to users' Funding Account after the borrowed amount and borrowed interests are repaid. 'Our mission is to empower users to help them make the most of their staked assets with innovative solutions,' said Emily Bao, Head of Spot and Web3 at Bybit. 'With Margin Staked SOL, we provide a straightforward way for users to leverage their digital assets and take full advantage of the opportunities within decentralized finance.' For a detailed guide on how Margin Staked SOL works on Bybit, users may read the Introduction to Margin Staked SOL to get started. #Bybit #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Contact Head of PR Tony Au Bybit
