Sekisui House Australia increase development pipeline with $17 million North Kellyville acquisition
Sekisui House Australia has expanded its development pipeline with the acquisition of a two-hectare site in North Kellyville.
They've spent $17 million on 167 Foxall Road, a site not far from Woolworths Kellyville and North Kellyville Public School. The expectation is they'll be producing another community-focused, multi-residential development.
The acquisition adds to Sekisui's already significant interests in the region. They're heading towards completion of their $1 billion Norwest masterplan, The Orchards. They still have several towers to go, but just filed for the fifth and final stage.
The final stage will add three new Rothelowman-designed buildings, two residential buildings with 209 apartments, and a third for communal facilities.
They recently released a new stage at The Orchards, Veue Parkside, which saw 50 per cent of its apartment sell on its opening weekend.
Sekisui House Australia has also committed $5 billion to the redevelopment of Melrose Park. This year, plans for stages five and six of this masterplan were submitted, with the project expected to ultimately deliver 5,500 homes.
The company recently celebrated 15 years in Australia.
Group CEO & Managing Director, Hironobu Seto, said the company's achievements in Australia over the past 15 years have been significant.
"We have grown a portfolio of leading mixed-use apartment precincts including landmark developments like West Village in Brisbane, and The Orchards, Melrose Park and Sanctuary in Sydney, as well as our premium SHAWOOD home product, setting new standards for sustainable and technologically advanced home building in Australia.
“We have also brought to life a range of vibrant master-planned communities through our premium SHAWOOD brand, such as Gledswood Hills and Norman Estates in Sydney’s South West, which have achieved significant sales success and driven value for the region, with one of our homes setting a new house price record for the area."
Sekisui's pipeline also includes a significant site in St Leonards, which was acquired for over $110 million and includes approved plans for 230 apartments across five four to eight-level buildings, as well as a central north-south 'green spine' which will feature a swimming pool area.
“We look forward to many more years of creating homes for our customers and contributing to the continued growth of the Australian housing market with our team and partners,” Seto added.
