Canterbury Road, Campsie site sold to China's Hailiang Group

The Chinese industrialist, Feng Hailiang has spent $34 million on a large residential development site at Campsie in Sydney’s inner south-west.

Hailiang Group bought the 4,416 square metre Robbo's Retail site at 445-453 Canterbury Road.

The Australian reported the company plans a $70 million mixed-use development with 200 plus units and commercial and retail spaces.

Hailiang, China’s 90th richest man according to Forbes, is reportedly worth US$1.7 billion (A$2.14 billion).

Hailiang Group is one of China’s largest copper tubing and alloy manufacturers.

It has expanded into real estate development seeing the Australian property market as "thriving".

The Campsie development is to be financed through a capital raising and new debt.

Council considerations in 2013 suggested a height limit of 25 metres.