Renowned developer and builder Coronation Property has successfully acquired two prime development sites in Sydney, signalling the introduction of over 750 new apartments into the market.
These sites, located in St Leonards and Waterloo, are slated for transformation into dynamic mixed-use developments.
Both projects align closely with the Minns Government’s urban planning objectives, emphasising the importance of situating high-density housing near transportation hubs, employment opportunities, green spaces, essential community services, as well as vibrant dining and retail establishments.
The initial acquisition at 46-52 Nicholson Street, St Leonards marks Coronation's inaugural venture into the bustling lower north shore of Sydney, encompassing more than 350 Build-to-Rent apartments, along with ground-level retail spaces and communal areas. This off-market purchase underscores the developer's commitment to expanding its footprint in Sydney.
Nestled within the vibrant neighbourhoods of St Leonards and Crows Nest, the development enjoys proximity to key landmarks such as the recently launched Crows Metro Station, Royal North Shore Hospital (RNS), the St Leonards Commercial Centre, and the local railway station.
Coronation highlighted that the acquisition in St Leonards strategically taps into the escalating demand for rental accommodations across the wider Sydney region. The proposed development, with an estimated end value of $600 million, is projected for completion by the first quarter of 2028, pending necessary approvals.
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