Australian engineering and construction giant John Holland is on the brink of its first development site acquisition, NSW Property's 3.2-hectare freehold mixed-use development site in Macquarie Park in Sydney's north-west, according to The Australian Financial Review.
According to the report, John Holland bid 'about $90 million' for the 45-61 Waterloo Road site, which would be sold as a sale and leaseback to the NSW state government. The government has pre-committed to lease 25,000 sqm in offices, with a 12-year initial term with options. Altogether the B3 commercial-zoned site will yield about 117,000 sqm of gross floor area.
John Holland is owned by Chinese infrastructure and engineering firm CCCC International Holding, and opted to expand into residential development, hotel investments and infrastructure public-private partnerships with a $1.1 billion mandate.
It was also looking at merger and acquisition opportunities while focusing on its core business within the infrastructure, building and rail markets. The group was also expanding afield into international markets, helped by CCCI's overseas channels and presence.
John Holland represents one of Australia's largest construction companies, alongside Multiplex and Lendlease.
This month, John Holland was awarded the contract to redevelop the St Andrew’s Ipswich Private Hospital, including the provision of 90 new beds and the first private hospital Emergency Department within Ipswich in a $45 million contract.
The Macquarie Park property features include:
- 25,000m² government pre-commitment lease
- Central location in Macquarie Park, Sydney’s fastest growing CBD
- Diagonally opposite the Macquarie Park train station
- B3 Commercial Core Zoning
- Close to Macquarie Shopping Centre and the M2 on/off ramp