Stockland Sells Sydney North Shore Development Sites to Meriton, at a $7 Million Loss

The Gordon site was offloaded by Stockland, which paid more than $24 million for the site in 2002, the Australian Financial Review reports.

Stockland sold the site with a permit for a 149-unit, $100 million apartment tower. The 8,400 square metre site currently consists of ten house blocks in Merriwa and McIntyre streets.

Mr Triguboff’s development company is also building projects in Sydney, Brisbane and the Gold Coast.

He told the AFR he was attracted to the Gordon site, because construction could start immediately.

This year, Mr Triguboff’s development company Meriton has also purcased sites in the inner-western Sydney suburb of Zetland, and Pymble, also on the north shore.

Matrix Property Group’s Andrew Antonas negtiated the sale.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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