China Aoyuan Property buys 3 Sydney sites for A$100M
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China Aoyuan Property Group Ltd. acquired a three-site residential portfolio in Sydney for A$100.0 million, The Australian Financial Review reported.
The portfolio includes a 28.2-hectare landholding divided for 167 lots on Great Southern Road at Bargo in New South Wales' Southern Highlands. In November, the company launched Coomeroo Estate, its first house and land project, on the site, according to the Dec. 6 report.
In southern Sydney, China Aoyuan purchased a site bounded by Forest Road, Durham Street and Roberts Lane near Westfield Hurstville. The site is earmarked for a 110- to 130-room hotel and a 350-apartment mixed-use tower. The project is slated for sale in 2019, the publication noted.
The third site, spanning 4,000 square meters in the Burwood suburb of Sydney, will house 107 apartments, the report said.