Demian reclaims ex-James Hardie factory from Abacus
Abacus Property Group is selling an enormous ex-James Hardie factory back to Sydney developer Charlie Demian.
The ASX-listed group paid $85.25 million for 181 James Ruse Drive, Camellia, in January, 2022.
Settlement occurred five months later.
The purchase was part of the group’s industrial land banking and development strategy.
The on sale reverses this transaction.
Colliers’ Matthew Meynell and John McCann were the agents.
The property is now for lease (continues below).
Khoury’s James Marshall and Anthony Khoury are managing that campaign.
181 James Ruse Drive
On 6.8 hectares also with an access point at Grand Avenue North, exposed to the Parramatta River to the north and east, the Camellia site has longer term large scale residential based, mixed-use development upside, contingent on, amongst other things, remediation (continues below).
Abacus acquired it and an adjacent block in Riverlands from Demian to boost its commercial development pipeline.
Camellia is about 18 kilometres from town.
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