Australand secures North Ryde residential infill site

Australand secures North Ryde residential infill site
Australand secures North Ryde residential infill site

Australand Property Group and joint venture partner LaSalle Investment Management have won the right to buy a residential site owned by UrbanGrowth NSW in North Ryde, Sydney.

The price of the 1.3 hectare site is understood to be about $50 million.

Located adjacent to the newly completed North Ryde train station, it is expected to yield up to 400 apartments 

It forms part of the North Ryde Urban Activation Precinct.

The site is well serviced with close access to education facilities, including Macquarie University; a major regional shopping centre; and employment precincts.

The sites zoning permits a mixed used development so will include as a small retail component.

Following the success of existing projects in Wolli Creek and Clemton Park, we look forward to expanding our partnering relationship with LaSalle Investment Management," Australand’s Managing director, Bob Johnston, said

Securing this project further strengthens our position in the Sydney market and provides greater visibility of our medium term residential pipeline with the project expected to deliver earnings from 2016,Mr Johnston said. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Sydney Reits

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