MIRVAC has bought out joint venture partner Leighton Properties' 50% stake in the Green Square consortium.
The consortium has an agreement with UrbanGrowth NSW to deliver the Green Square town centre.
The Green Square town centre is a 6ha residential, mixed-use and commercial development that forms part of a major urban renewal site, formerly industrial land just 4km south of the Sydney CBD.
The project will deliver up to 10 new buildings, ranging from three to 28 stories, to provide 3,700 new homes for 6,800 residents.
The sale is part of Leighton Holding’s strategy to exit the property business.
Leighton has also begun an expressions of interest process to sell its 50.6% interest in listed residential developer Devine.
Property Review
