Sydney Residential Development Site Sale – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 28 Feb 2012 04:00:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Sydney Residential Development Site Sale – realestatesource https://www.realestatesource.com.au 32 32 Crown International Holdings Group Pays $27 Million For North Sydney Development Site https://www.realestatesource.com.au/crown-international-holdings-group-pays-27-million-for-north-sydney-development-site/ Tue, 28 Feb 2012 04:00:55 +0000 http://realestatesource.com.au/wordpress/crown-international-holdings-group-pays-27-million-for-north-sydney-development-site.html CROWN International Holdings Group has paid $27 million for a North Sydney development site with plans and permits for a 180-unit apartment complex.

The 1600 square metre site at 211 – 223 Pacific Highway will be added to the portfolio of the Sydney-based builder, which according to the AFR, controls some $1 billion worth of apartments in local developments in Parramatta, Rhodes and above the Top Ryde City shopping centre in Ryde.
]]> Crown chief executive Iwan Sunito wants to increase the number of units to 190 by removing proposed commercial and retail space. He said the permitted project does not have enough compact studio and one bedroom apartments.

He said demand is high for these given they can be delivered to the market at less than $600,000.

According to the HIA housing construction fell last year as did construction starts. Approvals however increased in NSW.

]]> New Residential Development Set For Pemulwuy, Sydney https://www.realestatesource.com.au/new-residential-development-set-for-pemulwuy-sydney/ Mon, 09 May 2011 04:00:07 +0000 http://realestatesource.com.au/wordpress/new-residential-development-set-for-pemulwuy-sydney.html PEMULWUY, in Sydney’s outer west, is set to see a new residential development, soon, after a builder paid $5.86 million for a 6942 square metre development site known as Lot 4002, Lakewood Estate 4B.

The site was sold with development approval for 71 one-bedroom flats, and 12-three bedroom units.  According to The Australian, which reported the deal, the development will also include 128 car park bays.

The development site – currently configured as five adjoining lots – has been cleared for development.

 

]]> 10 Wylde Street, Potts Point, Sells for $17-$20 Million https://www.realestatesource.com.au/10-wylde-street-potts-point-sells-for-17-20-million/ Mon, 07 Mar 2011 04:00:54 +0000 http://realestatesource.com.au/wordpress/10-wylde-street-potts-point-sells-for-17-20-million.html A POTTS Point residential development site has sold for between $17 and $20 million.

The property at 10 Wylde Street, is a hotel, but was to have become a luxury residential development.

Before the economic downturn a penthouse apartment in the proposed $70 million complex reportedly sold for a speculated $20 million before "falling through" after the publicity died down.
]]> The project was offloaded by Parissen, backed by the Scarborough Pacific Group. The company acquired the site as one of several assets from failed developer Ashington. The Potts Point property sold to a private firm, according to the AFR which reported the deal.

]]> Toga Group Buys Kings Cross Hotel for $16.75 Million https://www.realestatesource.com.au/toga-group-buys-kings-cross-hotel-for-1675-million/ Sun, 06 Mar 2011 04:00:20 +0000 http://realestatesource.com.au/wordpress/toga-group-buys-kings-cross-hotel-for-1675-million.html THE Mansions hotel, in Sydney's inner-city Kings Cross, has sold to developer Toga Group for $16.75 million.

The property, which currently trades as a pub, is expected to be converted into an apartment complex. Toga purchased the site on terms subject to this redevelopment being approved. The Mansions soars five levels. It was one of the last controlled by the Landmark Leisure Group which went into receivership in 2009.

Other sites owned by LLG included the Vegas Hotel, which like The Mansions is also in Kings Cross. Other assets include Darlingsford's Oxford Hotel and the peakhurst Inn.
]]> The Mansions sits on an 888 square metre block at the corner of Bayswater Road and Kellett Street.

Toga’s other assets icnlude the Vibe Medina, and Travelogdge brands. It’s also planning to redevelop the former Hakoah Club at Bondi Beach with 150 flats, a project which is being opposed by council. Another Toga project is the Hampton Court Hotel in Potts Point.

Toga is ultimately controlled by BRW Rich Listers Charlotte and Ervin Vidor, who are reportedly worth some $483 million. The company’s managing director is the Vidor couple’s son, Allan. Toga controls more than 50 hotels in Australia and Europe.

]]> Bondi Apartment Complex Could Fetch $25 Million https://www.realestatesource.com.au/bondi-apartment-complex-could-fetch-25-million/ Wed, 16 Feb 2011 04:00:58 +0000 http://realestatesource.com.au/wordpress/bondi-apartment-complex-could-fetch-25-million.html A SOUTH African investor is set to reap between $17 million and $25 million, from the sale of an entire apartment block on Bondi Beach, in Sydney’s ritzy east.

The complex at 105 Ramsgate Avenue includes 10 apartments, and the only “boathouse” on Bondi Beach – a small cupboard effectively, big enough for a kayak sized vessel.

The vendor, businessman and developer Neill Miller, is selling the block after obtaining a permit to build three luxury apartments on the site.
]]> Opposing the redevelopment were neighbours including former, and infamous David Jones chief executive Mark McInnes and the Waverley City Council.

Raine & Horne Bondi Beach agent Mary Anne Cronin is marketing the waterfront apartment complex for Mr Miller.

]]> Union NSW Sells Currawong Beach Property, Sydney, For $11 Million https://www.realestatesource.com.au/union-nsw-sells-currawong-beach-property-sydney-for-11-million/ Mon, 07 Feb 2011 11:40:11 +0000 http://realestatesource.com.au/wordpress/union-nsw-sells-currawong-beach-property-sydney-for-11-million.html A HISTORIC property in Currawong Beach, on Sydney’s northern beaches, has sold for $11 million.

Eco Villages Australia, owned by developers Eduard Litver and Allen Linz, purchased the estate (images, right) from Union NSW.

The union purchased the property in 1949 for holidaying workers, according to the AFR which reported the sale.

 

]]> Residential Development Site Sells For $5.57 Million, Dundas Valley, Sydney https://www.realestatesource.com.au/residential-development-site-sells-for-557-million-dundas-valley-sydney/ Tue, 07 Sep 2010 04:30:52 +0000 http://realestatesource.com.au/wordpress/residential-development-site-sells-for-557-million-dundas-valley-sydney.html AN UNDISCLOSED developer has paid $5.57 million for a 13,023 square metre development site on the northern side of Kissing Point Road and Stewart Street in Dundas Valley, Sydney.

Part of the property was sold with a permit for a 40-unit townhouse project with 79 car spaces.

Jones Lang LaSalle sold the Dundas Valley site at auction according to the AFR which reported the sale. The sale price equated to $428 per square metre.

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