NSW house builder and developer Rawson Group and AMP Capital have joined forces to deliver high quality housing solutions on two developments in Sydney’s key northwest and southwest growth corridors.
In a joint venture worth $200 million, the partners will develop 530 lots across their $150 million development called Horizon in Marsden Park and a $50 million project at Fifth Avenue in Leppington.
While the agreement focuses on these seed projects, it allows for prudent investment in future projects.
Rawson Group CEO Matthew Ramaley said the joint venture combined Rawson Communities’ seasoned development management expertise with an experienced Real Estate investment partner, diversifying funding sources and strengthening the certainty of its purchasing power in the competitive NSW market.
Horizon“Horizon and Fifth Avenue will feature land efficient product that puts owning a home within reach of more people," he said.
"NSW Planning Minister Rob Stokes set the challenge to developers to address the affordability issue in Sydney. We’ve listened and are proud to partner with AMP Capital to answer the minister’s call with more high quality supply.
“Product diversity is a key method for increasing access to homes for first home buyers in Sydney. Rawson’s joint venture with AMP Capital is designed across key growth areas to help first home buyers get on the ladder and provide opportunities for second home buyers as well.”
LeppingtonRawson Group recorded more than 1,000 home starts and produced more than 380 lots over the past financial year to drive revenue to $400 million by capturing sustainable growth, which it is forecasting to continue this year and beyond.
“The NSW Government’s investment in infrastructure delivery had unlocked the local Sydney land market, pointing to the early delivery of the Leppington station on the Southwest Rail Link as providing greater confidence for developers to consolidate and subdivide land in the south-west Sydney market,” Mr Ramaley said.
“In this environment of renewed confidence, we are steadily working through the impact of 10 years of broken infrastructure and planning systems by delivering high quality detached home supply."Rawson Group is comprised of a house building company, Rawson Homes, which manages an extensive portfolio of contract home building projects, knock-down and rebuild house building projects and house and land package products.
Rawson Communities is the Group’s land development arm, which manages the development of a 1200 lot land pipeline, which includes projects owned by third parties.
In September, the Group launched Thrive Homes to design and build high quality homes for first time home buyers and build-to-rent investors.