Commercial and residential property news
CONSTRUCTION of a major new 561-unit apartment complex in Sydney’s Macquarie Park should start by the end of this year.
Global property group LaSalle Investment Management has teamed with Sydney’s Toga Group to develop the regional centre in Sydney’s north.
All planning approvals for the first stage of the project are in place, according to the AFR which reported the new development arrangement.
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LISTED institution Australand Property Group with partner LaSalle Investment Management, have paid about $35 million for a 5.5 hectare development site in Sydney’s south.
The Clemton Park site (aerial of the suburb, right) sold with a permit. It’s expected to deliver about 700 dwellings over a five to six year period.
Construction company Parkview sold the site, some 15 kilometres south-west from the Sydney CBD and near Earlwood, Kingsgrove and Campsie and not far from the city’s international airport.
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LEIGHTON Holdings has teamed with property fund manager LaSalle Investment Management to build a new housing estate in Sydney’s Erskineville.
The project will include 300 apartments and townhouses, and be developed on a former light industrial site, set to be rezoned to Mixed Use under the City of Sydney’s Draft Local Environment Plan (LEP).
The project is earmarked for a 1.6 hectare site at 36 Coulson Street, a site which also has frontage to MacDonald and Bridge streets. The development consortium paid Investa Property group’s Investa Enhanced Fund $21 million for the site.
It’s part of the Ashmore Precinct, identified by both the NSW state government and council as a precinct set for residential development.
One bedroom units in the new complex are expected to start at about $450,000, according to the AFR.
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