Deicorp is reported to be investing $180-million in a deal to secure the 2.86ha multi-tower site at Zetland in the city’s inner-south.
The site at 130 Joynton Avenue is being sold Ausgrid, owned in partnership by the New South Wales government, AustralianSuper and IFM Investors.
The site is zoned for a mixed-use development and has an allowable gross floor area of about 55,000sq m with a staggered height limit ranging from 28m to 50m.
Spread across the site are nine buildings with varying uses, including office, warehousing and storage spaces as well as parking capacity for vehicles of all sizes.
“We are delighted to have acquired what will be one of Green Square’s prime residential addresses, adjacent to Gunyama Park and Aquatic Centre and a short walk from Green Square train station and East Village Shopping Village,” Deicorp’s corporate communications executive manager Robert Furolo said.
“Our newest Zetland development will incorporate a substantial public park that will support the City of Sydney’s revitalisation of the precinct, and create a new green space in the Green Square precinct.
“And like all of Deicorp’s projects, it will also support the principles of transit-oriented development being an easy walk to the airport line and new Metro, as well as to great shops, cafes, restaurants.
“We will be undertaking a design excellence process as part of our vision to bring stylish, contemporary and beautiful homes to this vibrant part of Sydney.”
The site was taken to market last year by Colliers’ agents Michael Crombie and Trent Gallagher in conjunction with Knight Frank’s Tim Holtsbaum, Grant Bulpett and Anthony Pirrottina.