Jeff Xu buys in Sydney's Waterloo and looks at Double Bay site

Jeff Xu buys in Sydney's Waterloo and looks at Double Bay site
Jonathan ChancellorJune 23, 2015

Jeff Xu's Golden Age Group has spent $35.5 million with joint venture partner Tim Price's Time & Place to secure a site in Sydney’s Waterloo.

Golden Age advised this week it had purchased its second Sydney development site, a 5038-square-metre block in Waterloo in an off-market transaction.

The site was previously owned by Becton, coming with development approval for an eight-level building with 143 apartments, retail space and childcare on the ground floor.

The partners expect it to launch in August.

Golden Age has an office tower at 85 Harrington Street in The Rocks in Sydney, which will be knocked down to make way for nine levels of luxury apartments.

At the same time, the group is running the ruler over two other Sydney sites.

"We are looking at another one in Double Bay and one in the Sydney CBD which faces onto a park," Jeff Xu told Fairfax Media.

 

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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