Frasers Property Gets Moving to Redevelop Sydney’s Former CUB Site
“We will be right on time for the upswing,” Frasers Property chief executive Dr Stanley Quek said. “In Singapore there is a good take up of apartments, and in England an uptake”.
He said funding would not be a problem, describing Frasers as “a fairly strong company”.
The first development application is for an office and retail building on the corner of Broadway and Abercrombie Street, however a building on some other part of the site may be developed first, Dr Quek said.
Frasers outmuscled Australand to buy the central Sydney site, agreeing to pay $208 million in June 2007. Frasers is a branch of the Singapore-listed Fraser and Neave. That company ownws food, beverage, publishing and printing businesses, as well as property development.
