Barings Secures State Significant Development Approval for St Leonards Residential Development

Barings, one of the world’s leading alternative investment managers, today announced it has secured State Significant Development approval for a residential development in St Leonards, representing a significant milestone in the delivery of new housing supply in North Sydney.

Located at 12–20 Berry Road and 11–19 Holdsworth Avenue, the 5,015 square metre sites which previously comprised of 10 low density residential dwellings, will accommodate 188 new residential units alongside a childcare centre and community facility.

Owned by Aware Super and developed by Barings, the development will contribute meaningfully to local housing supply and is expected to account for close to 5% of Lane Cove’s five-year housing target.

The development has been designed to support the evolving needs of the local community through a mix of private and affordable housing, together with integrated social infrastructure. A total of 15.6% of the development’s floor space has been allocated to affordable housing, which equates to a total of 37 affordable housing units.

The proposal will also enhance the public domain, including the delivery of part of a planned through-site link connecting Holdsworth Avenue and Berry Road as the surrounding precinct is developed.

Warwick Dowler, Senior Director and Head of Residential at Barings Real Estate Australia, said the approval reflects Barings’ continued focus on delivering well-located residential developments that support long-term community needs.

“This approval represents an important step in delivering much-needed housing supply in a well-connected Sydney location. We are pleased to be working with Aware Super, and remain focused on delivering a high-quality residential development that integrates affordable housing and community infrastructure, supporting the long-term needs of the local area,” Dowler said.

Deanne Stewart, CEO at Aware Super said “Many of our members are essential workers, and a development like St Leonards helps them live closer to the hospitals, schools and services our communities depend on.

“Aware Super is proud to invest in the housing Sydney needs, while putting our members’ retirement savings into a strong, long-term asset that builds their financial future. This is Super working for our members and the community.”