A billionaire investor has lodged plans for a mixed-use residential development in Sydney’s Botany.
APKC Pty Ltd, a vehicle with Malaysian-born Kie Chie Wong and his wife Ann Pin Lim listed as its directors, filed plans with the Bayside Council this month, marking the start of a residential renewal in a predominantly industrial and commercial area.
According to Forbes, Wong, who has lived in Australia since the 1980s, is worth $1.9 billion due to a minority stake in Fortescue Metals Group.
If approved, APKC’s development will deliver 43 apartments comprising 23 two and two three bedrooms, including nine adaptable apartments.
The remainder will be one-bedroom apartments, five of which will be ‘soho’ – small office/home office, which allows for small businesses operated from home.
The plans for the Botany Road site were prepared by AJC Architects and include communal open spaces as well as two retail tenancies.
Under the plans, the developers will amalgamate four lots at 1611 to 1615 Botany Road into a 2106sq m site. One and a two-storey warehouses on the site will be demolished.
There are a number of other mixed-use development applications for sites in the vicinity, although the developers said it was unclear if those consents had been activated.
According to Corelogic RP Data, 1611 Botany Road was sold by Wei Developments to AKPC Pty Ltd in 2020 for $8.75 million.
Botany Road has been the subject of renewal attempts in recent years, with amendments to the Sydney Local Environmental Plan 2012 and Sydney Development Control Plan 2012, which came into effect in November 2022.
The changes aimed to encourage further commercial development and affordable housing in the Botany Road Precinct, and have already benefitted other developments in the area.
