PAYCE Consolidated will take on the task of redeveloping its remaining land in “The Waterfront†residential precinct at Wentworth Point in a 50/50 joint venture with Sekisui House.
The partnership will see the construction of over 600 residential apartments in Sydney’s inner west suburb.
Wentworth Point was named in March as one of eight sites in the O’Farrell Government’s Urban Activation Precinct (UAP) program, with 30,000 new homes across the selected areas planned, and the Wentworth Point site to also experience further retail, commercial and boating facilities development.
Following that was the announcement of a new $43 million bridge linking Wentworth Point to Rhodes, eliminating a 12km round strip for local residents to shops.
AMP Capital and Billbergia completed the 285-apartment first stage of their Wentworth Point development at 1 Burroway Road soon after, which was fully sold five months ahead of schedule.
Adjoining the land earmarked for the UAP, the project’s second stage is due to be completed late next year and comprises 252 units.
Property Review
