HPG Australia’s $600 million-plus One Sydney Park development in Sydney’s inner west Alexandria has moved a step closer to the starting line with a call to architect and landscape designers to compete in a design competition.
With its Stage 1 Masterplan now DA approved, One Sydney Park is set within Sydney Park and comprises a 44-hectare park and wetlands.
The property at 205-225 Euston Road, which houses a 7000-square-metre empty warehouse, was purchased from Goodman Group in 2015.
Under the scheme, HPG will develop 1300 sq m of mixed-use retail and it will comprise about 400 apartments across eight six-storey buildings as well as 8800 sq m of public space. There will also be $1.5 million allocated to public art.
Architecture teams confirmed as taking part are Architectus in collaboration with Turf Design Studio for landscape design; Make Architects from London in collaboration with ASPECT Studios for landscape design; Woods Bagot in collaboration with McGregor Coxall for landscape design and MHNDUnion + Silvester Fuller in collaboration with Sue Barnsley Design for landscape design.
HPG’s managing director Dr Adrian Liu said a winner will be announced early next month and it is expected the first-stage sales will be launched soon with construction set to start in early 2018. Rouse Hill
IPartners’ first investment opportunity,a 48-lot residential development on two hectares in Sydney’s Rouse Hill, has closed within two weeks with a $3.3 million equity raising in a special purpose trust to acquire a 49 per cent equity stake in the development.
The pre-tax, projected rate of return, based on the project’s feasibility study by the experienced developer, and 51 per cent project stakeholder, Clearstate, is expected to be 45 per cent over the next two years.
IPartner’s managing directors??? Rob Nankivell and Travis Miller expect their investment platform, featuring 13 other shareholders including David Baxby and Craig Hutchison, will raise up to $75 million in the short term from sophisticated and wholesale investors seeking strong rates of return through investing in property developments and other asset classes.
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