Shanghai Developer Files $1.1bn Penrith Masterplan

A Shanghai-based developer has lodged plans for a $1.1-billion community on the former site of Australia’s last TV manufacturing plant. The SHMH Group Australia, the parent company of which is SHMH Real Estate Group—one of the top-50 property developers in Shanghai—is moving its plans for The Beacons ahead. It has submitted its concept masterplan for nearly 2000 apartments to Penrith City Council, to be decided by the Sydney Western City Planning Panel. SHMH wants to prepare the site as well as determine building envelopes for a complex of residential towers and parking for the site at 164 Station Street. The 78,491sq m site is in a high-density residential zone, anticipated to accommodate a “substantial” increase in density in the area. The site was the home of Panasonic Penrith, a television-assembly plant for the Japanese multinational in Australia. It closed after the rise of LCD-screen technology made it obsolete. That plant was demolished in 2018. However, the site has a long history of manufacturing—Singer Sewing machines were produced onsite until 1967, while black-and-white televisions were produced under the National brand, before its acquisition by Panasonic. ▲ PTW Architects has designed plans for SHMH Group ’ s Penrith project. The site is close to Penrith Railway Station as well as Penrith Stadium, which was approved for a $309-million redevelopment in November. Also nearby is a Westfield Shopping Centre and Nepean Hospital. SHMH group acquired the site in 2015 for $45 million, according to CoreLogic’s RP Data. It submitted early planning and subdivision schemes in 2020, which were approved by the Penrith City Council in 2021. Its latest concept development application details a much bigger plan, to be delivered across 10 stages. Blocks of multiple towers from 10 to 20 storeys would house 1995 apartments across typologies. ▲ As well as the Penrith project (above) SHMH Group has projects in the works at Waterloo, Elizabeth Bay and Eastwood. The first stage would front Station Street opposite Penrith Stadium and a new street, and comprise a four-storey podium with three towers of 10, 12 and 14 storeys atop. The project ’ s tallest tower, of 20 storeys, is planned for Stage Five. The precinct would deliver a residential area of 188,221sq m and 7872sq m of non-residential area. The buildings would sit around a 2392sq m Central Boulevard park, accessible to the public, alongside two ancillary parks of 10,571sq m combined linking Woodriff Street, Jamison Road and Station Street. Penrith local government area’s housing strategy targets 8400 homes by 2029. A diverse range of developers have been making plans for Greater Western Sydney suburb, 55km from the Sydney CBD. James Place picked up a site for a $200-million tower last year, while aged-care and retirement living projects have also been cropping up with regularity. An artificial ski slope and 170-key hotel were approved last year and work has now begun on site . The Urban Developer Property and Economic Outlook | For property development professionals in the Greater Sydney region. Click here

Shanghai Developer Files $1.1bn Penrith Masterplan

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Shanghai Developer Files $1.1bn Penrith Masterplan

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