UrbanGrowth NSW today announced it has awarded the tender for two residential land subdivision projects in Edmondson Park and Menangle Park to Dahua Group. The combined sale will accelerate housing supply in South West Sydney and is expected to deliver a total of 3,580 new houses.
Edmondson Park is the gateway to Sydney’s South West Growth Centre which, over the next 30 years, is expected to be home to some 300,000 people. The subdivision offers more than 1,280 residential lots, close to shops and commercial offices on a dedicated train station on Sydney’s new rail line. The town centre site was separately sold by UrbanGrowth NSW in August this year to Frasers Property (formerly Australand).
The Menangle Park subdivision is adjacent to the M5/Hume Highway approximately 70 kilometres southwest of Sydney’s centre and 10 kilometres southwest of the Campbelltown CBD. This project provides for approximately 2,300 residential lots plus a neighborhood centre, and forms part of the Greater Macarthur Land Release by the NSW Government in September this year.
“UrbanGrowth NSW congratulates Dahua on the purchase of the Edmondson Park and Menangle Park residential subdivision projects, which will help deliver more new housing for Sydney,” said UrbanGrowth NSW Chief Executive, David Pitchford.
Dahua Group (Dahua) was established in 1988 in Shanghai, and has a track record delivering large master planned residential and mixed-use developments. Other Sydney projects include the Sapphire development in Bondi Junction and the recent purchase of the 2ha Sydney Water Central Workshops site in Waterloo, which is earmarked for a mixed use development.
“Dahua is very excited to have the opportunity to create new residential communities in this fast-growing part of Sydney,” said Dahua Australia General Manager, Eric Li.
Colliers International conducted the marketing campaign for UrbanGrowth NSW.
Proceeds from the sale will be largely reinvested into new urban transformation projects which will drive Sydney’s global competitiveness.
“The sale of these projects is a key milestone in UrbanGrowth NSW’s transition out of residential land subdivision, to focus on large-scale urban transformation projects where we can act as an industry enabler,” Mr Pitchford said.