AirTrunk founder buys luxury apartment site
AirTrunk founder Robin Khuda, who last year banked $670 million following the $24 billion sale of the data centre business and real estate to Blackstone, has snapped up a Mosman site with plans for luxury apartments.
The elevated 809 square metre block at 17 Moruben Road, on the north west corner of Plunkett, cost the executive’s building arm $32m following an expressions of interest campaign closing late May.
A four level cream brick residential complex will be razed; council recently implemented planning controls which would allow six storeys on the R3 Medium Density zoned site.
Even ground floor dwellings would have postcard water views very unlikely to be built out.
Stanton Hillier Parker’s Michael Stokes, Shirley Fan and Chris Veitch marketed the property, Azura – Balmoral Slopes.
Another Ondas project
Mr Khuda will brand the Mosman development an Ondas project; since establishing the company in 2021, the company’s portfolio includes sites in Manly and on Palm Beach.
An Ondas complex is also moted in Melbourne at 3-5 Fitzroy St, near the corner of The Esplanade, in St Kilda.
Mr Khuda amalgamated that parcel in late 2022.
The outlay was $22m.
The now permitted redevelopment will contain 16 dwellings over retail.
Also today we are reporting a historic building part leased to Sheridan in Mosman’s Military Rd retail strip sold for $11.5m.
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