Developer doubles down in Mosman
Abadeen, led by ex-AFL footballer and CBRE agent, Andrew Leoncelli, has purchased another Mosman development site.
The holding, neighbouring dwellings covering c1100 square metres at 27 and 29 Heydon Street, is earmarked for luxury apartments.
“Our vision is to create a high quality, design-led project that embraces recent planning reforms while maintaining the village charm Mosman is known for,” Abadeen head of Acquisitions, Aaron Arias, said.
“With a focus on thoughtful density, lifestyle-driven design and elevated living, this development will be tailored to meet the expectations of local downsizers, professionals and families alike,” he added.
The deal comes six months since the developer, established by Justin Brown in the mid 1990s, outlaid $18.5m for a block in the suburb, on Burran Avenue, also with plans for luxury apartments.
Mosman is Sydney’s priciest suburb measured by median value.
The average two bedroom apartment there, according to REA Group, is $1.4m.
Three bedroom units meanwhile are averaging $2.8m.
Earlier this year meanwhile we reported the group picked up East Melbourne’s historic Kilburn mansion, later extended and used as a hospital, also with plans for a residential conversion.
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