Aqualand expands Sydney property projects again

Aqualand expands Sydney property projects again
Aqualand expands Sydney property projects again

Aqualand has emerged as the buyer of a heritage site at Sydney’s Millers Point near the $6 billion Barangaroo redevelopment.

Backed by Shanghai-based Shenglong Group, Aqualand is taking a long-term view on the Australian market after acquisitions over the past two years that takes its pipeline to well over $1 billion, The Australian noted.

Aqualand paid $40 million for the 1-3 Munn Street site, a boutique five-storey commercial office building, sold by Primary Health Care.

The Chinese residential developer has also snapped up a 13,215sq m office and warehouse property in Macquarie Park in Sydney's north shore for $54 million.

With plans to hold the property for rental income, the B7 Business Park property will net Aqualand $3.1 million annually.

Real estate investment house Altis Property Partners sold the property through Colliers International's Roger Miller, Gavin Bishop and Jon Chomley.

On another front Aqualand has been given the nod to convert the office tower at 168 Walker Street, North Sydney into 415 luxury apartments.

The 7435sq m site at the corner of McLaren and Walker streets will be developed into four residential towers ranging from 22 to 28 storeys to a design by architect Woods Bagot.

Aqualand is currently completing the REVY apartment project in Pyrmont.

It also settled on a residential development site in the upper northern Sydney suburb of Turramurra for $15 million.

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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Development Site Sydney Property

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