Singapore-listed Chinese property developer Chiwayland has listed its 2878-square-metre development site in Parramatta, in Sydney's west.
It seeks buyers through Knight Frank and CBRE after buying it just over a year ago.
There has been a rezoning of the land - and a potential floor space lift to 15:1 from 10:1 - since the site at 14-20 Parkes Street sold.
The Australian Financial Review has been told the site could potentially yield more than 380 units if the lift is successfully negotiated with council.
Chiwayland International is the property division of conglomerate Chiway Group and is involved in residential and commercial development in China, including affordable housing, office buildings and education.
The company entered the Australian market in 2014.
The acquisition of the site in Parramatta cost $27 million in January last year with then plans to develop a residential tower with about 350 apartments.
Picture courtesy of Parramatta City Council