Malaysian developer BRDB buys Miranda apartment site

Malaysian developer BRDB buys Miranda apartment site
Malaysian developer BRDB buys Miranda apartment site

A development-approved site in Sydney’s Miranda has been snapped up by Malaysian-based developer BRDB for $12.8 million.

Located at 1-3 University Road, 668A, 668 and 670 Kingsway, Miranda, the north-facing property has a gross floor area of 5,744 sqm.

It is DA-approved for 66 residential apartments.

Knight Frank managed the sale on behalf of a private family.

According to Knight Frank’s Director, Residential Site Sales, NSW Tim Holtsbaum the purchaser had a strong preference for the Sutherland Shire, given its strong fundamentals and location.

Knight Frank’s Head of Asian Markets, Dominic Ong, said Malaysian buyers have traditionally been very active in Melbourne – but this sale could indicate a shift 

"Sydney has mostly received interest from China and Singapore in terms of Asian investment.

"However, we anticipate this could change."

The north-facing site features 2,872 sqm and is DA-approved large town-home-style ground-floor apartments with garden terraces and upper floors enjoying view towards Cronulla and Sydney’s North.

The apartment mix is approved for 27 percent one-bedroom apartments, 71 percent of two-bedroom apartments and 2 percent three-bedroom apartments.  

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Residential Apartments Miranda

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