Iron Ore Billionaire Plans 80-Apartment Block at Mascot

A low-key ultra-wealthy investor has filed golden-clad plans for their next mixed-use residential development in Sydney.

APKC, led by Kie Chie Wong and his wife Ann Pin Lim, filed the eight-storey plans for 573 Gardeners Road, Mascot.

According to Forbes, Malaysian-born Wong, who has lived in Australia since the 1980s, is worth $1.9 billion due to a minority stake in Fortescue Metals Group.

The car showroom and the 2795sq m site at Mascot was sold to the investors for $17.65 million in 2018.

The plans designed by FJC Studio show ground-floor retail, seven levels of apartments, 86 car spaces and rooftop communal open space.

There is an estimated $62.7 million cost of work to create 80 apartments, according to the Mecone planning report.

While the exterior looks gold in renders, FJC architects described it as warm-bronze material on the perforated operable screen that “aspires to a new material quality for the precinct”.

There is a cluster of eight-storey residential buildings along this segment of Gardeners Road between Botany Road and O’Riordan Street. 

The project is the latest APKC development before the Bayside Council after plans for a 43-apartment shoptop development were filed in November.

A decision on that Botany project is pending.

Last month a concept development for new commercial project across 16 addresses in the neighbourhood was filed by F. Mayer Superannuation Plan to create 48,645sq m of gross floor area.