Hong Kong-listed development company Country Garden has secured its second Sydney development site, this time in St Leonards, as it builds its development pipeline in Australia.
The Australian Financial Review reports that Country Garden has acquired a site of 10 amalgamated housing blocks bounded by Berry, Park and River Roads in St Leonards South for a reported $45million under a put and call option according to sources.
The AFR reports that JLL were acting for Country Garden in the off market transaction with the home owners.
The site is located in the St Leonards South precinct which has been the target of many developers including Mirvac, Poly Australia and New Hope for high density residential developments.
Aerial image sourced from stleonardssouth.com.auCountry Garden announced in April it has finalised a $264 million contract with Watpac Limited, to deliver the Ryde Garden residential development at Delhi Road, North Ryde, 15kms north-west of the Sydney CBD.
The Ryde Garden development will feature 830 residential apartments with basement parking for 730 cars, 2,100m2 of public park, roof top gardens and a communal pool, 1,100m2 of non-residential floor space including retail space, gymnasium and an area dedicated for a future child care centre.
Founded in 1992 and listed on the Hong Kong Stock Exchange in 2007, Country Garden aims to build first-class communities, with over million people choosing Country Garden for their homes. The company has earned over 100 billion RMB in sales, with a focus on building high value-for-money residential property.
Main image: Artists impression of courtyard at Country Gardens' Ryde development.