GPT Group dips into apartment development
Better known for its extensive interests in retail and commercial assets, GPT Group is shaping up for an apartment foray.
The diversified property group via is GPT Funds Management 2 Pty Ltd arm is circling planning approval for a Rouse Hill development site. GPT Group's funds management platform is normally focused on national retail and commercial interests, with the Rouse Hill bid a distinct departure from the norm.
In focus is a site which falls in within the Rouse Hill Town Centre precinct. With over 56,000 square metres of existing retail space, the freshly submitted development application is looking to capitalise on the approved Stage 2 Precinct Plan that will delivery mixed residential and retail expansion.
On the corner of Caddies Boulevard and Rouse Hill Drive, GPT Group's 4,300 square metre site is earmarked for 141 apartments.
The intersection will carry the main building bulk which rises 11 storeys or 37.4 metres, stepping down to 6 storeys at its rear. Holding 12,254 square metres of gross floor area, the development also includes an outdoor terrace located on level 7 above the 6-storey built form to the north.
Serviced by dual lift cores, Cox Architecture have included 39 single, 91 double and 11 triple bedroom apartments.
The wider precinct will see an extension of the retail centre and associated at grade car parks, in addition to road network enhancements. Commercial space and an additional apartments are also planned.
GPT Group's application is another in the wider Rouse Hill apartment drive which is seeing thousands of new higher density dwellings flood into the area, spurred by the Sydney Metro Northwest project.