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Aqualand Launches $480 Million Norwest Masterplan

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Aqualand has launched stage one of its Bellevue Residences project, the first masterplanned community of its kind for the Chinese development company.

The release comprises 14 land lot parcels around 705sq m in size, priced from $1.11 million, located in Sydney’s newly-established Norwest neighbourhood.

Aqualand acquired the 12.5 hectare St Joseph’s Convent site in Baulkahm Hills for $80 million in early 2017.

Aqualand chief executive John Carfi said the developer’s focus has been on inner city residential projects since beginning its Australian based operations in 2014.

“We are excited by this opportunity to broaden our footprint to a rapidly growing and evolving suburb like Norwest.”

Since entering the Australian market Aqualand has generated a portfolio of 18 sites, including the $2.6 billion Central Barangaroo project and the $850 million Blue at Lavender Bay development at Milsons Point, with its total gross development value sitting around $5 billion.

Related: Aqualand Sells North Sydney Tower for $59.4m

Aqualand's Bellevue Residences
Aqualand's Bellevue Residences


The developer’s parent company is Shanghai-based Shenglong Group, founded in 1999.

In June, Aqualand signed off on a 15 per cent, or $10.7 million, investment in ­McGrath real estate group.

The 64 Mackillop Drive Baulkham Hills development sits with proximity to transport nodes, the Norwest Business Park set to open in 2019, and Sydney’s second future airport at Badgerys Creek.

The planning proposal outlines 110 medium density townhouses, and 270 apartments with a mixture of one to three bedroom residences across eight buildings.

Future stages will include townhouse and house and land packages to be released by Aqualand.

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Article originally posted at: https://theurbandeveloper.com/articles/aqualand-releases-first-stage-of-480m-suburb-in-sydneys-north-west