From Sekisui House
Residential property builder and developer, Sekisui House Australia has won Roads and Maritime Services’ competitive tender (managed by UrbanGrowthNSW) at Wentworth Point, acquiring a 9.4 hectare ‘super site’ located on the most northerly point of the peninsula suburb for A$360 million. The site is adjacent to an existing joint venture development ‘Jewel’ and the newly upgraded Sydney Olympic Park Ferry Wharf.
Roads and Maritime, through its delivery partner UrbanGrowthNSW nominated Sekisui House as the development company best placed to deliver the transformation of this ‘urban activation precinct’.
It is one of the largest scale sites available currently on Sydney Harbour offering true north views across Parramatta River and direct easterly views of Sydney CBD and the Sydney Harbour Bridge.
Sekisui House’s proposal features a mixed-use master-planned community of around 2,000 apartments including multiple towers up to 25 stories in height, which will be delivered across a number of stages. The apartment mix will include studios, one, two and three bedroom apartments which will be designed to ensure optimal view lines of the harbor, CBD and Blue Mountains.
The project will also feature absolute foreshore connectivity, pocket parks, direct access to the Sydney Olympic Park Ferry Wharf and residential amenities.
Since 2009, Sekisui House has developed a number of residential communities in the now thriving suburb of Wentworth Point by delivering approximately 2,000 apartments in three major projects ‘The Waterfront’, ‘Jewel’ and ‘The Address’. They also jointly delivered the newly opened Bennelong Bridge which connects Wentworth Point to and from Rhodes.
Sekisui House Australia CEO and Managing Director Toru Abe said Sekisui House was pleased to receive the advice that they had been successful in the tender process.
“This is one of the most significant milestones for our company since we entered the Australian marketplace in 2009 and firmly positions us as one of the foremost developers in the country,” Mr Abe said.
“We have already contributed to the area by delivering 2,000 apartments at Wentworth Point as well as jointly investing in the recently opened A$63 million Bennelong Bridge, which is one of the largest private and public partnership infrastructure projects in Australia”.
“We will maximise the enormous potential of this landmark site by delivering a unique and vibrant master-planned community with pocket parks and plenty of other amenity for residents to enjoy. It is without doubt the premier waterfront site on Sydney Harbour yet to be realised.”
The NSW Government’s plans for the Urban Activation Precinct will deliver significant new amenity to support the existing and future residents of the suburb, including a new public primary school, boardwalk, parklands and maritime facilities.
Mr Abe added “Wentworth Point will become a stylish and sophisticated new harbourside destination in its own right that all of Sydney will want to experience and enjoy. Another major advantage to residents is the excellent transport links the location provides with a new re-developed ferry terminal with increased services, Rhodes Railway Station – now within walking distance – as well as multiple bus services linking to all major centres from Rhodes Shopping Centre.”
International design expertise
The master plan design proposal includes a collaboration between internationally renowned Japanese architecture practice, Kengo Kuma and Associates, as the lead architect, and a local firm to finalise the design.
The project will be one of Kengo Kuma and Associates’ most iconic projects and first collaboration with Sekisui House in Australia.
The site acquisition adds to Sekisui House’s current development pipeline in NSW of around 10,000 apartments spanning Wentworth Point, Central Park, Melrose Park, Royal Shores, Jewel (all joint ventures), The Orchards and The Hermitage in Gledswood Hills in south-west Sydney.
The acquisition brings the company’s residential development pipeline to a value of AU$10 billion nationally.
Construction for the project has been scheduled to commence in 2018 with anticipated delivery by 2020.