Article published in Realestatesource.com.au 11th May 2022.
Read full article here: https://www.realestatesource.com.au/ausgrid-reaps-180m-from-inner-south-sydney
At 130 Joynton Avenue, the amalgamation of nine parcels – a mix of small offices, warehouses and car parks – is trading for about $180 million.
Marketed as Joynton Square, the holding forms part of Landcom and the City of Sydney’s 278ha Green Square urban renewal precinct, where Crown Group, Meriton and Mirvac are investors.
Ausgrid, which is owned by the state government, AustralianSuper and IFM Investors, marketed the property permit-ready for eight towers, between about nine and 16 storeys, containing a total of c55,000 square metres.
Deicorp has completed about 40 metropolitan Sydney complexes; its development pipeline contains projects at Ashfield, Petersham, Rockdale and Redfern.
Elsewhere in Zetland, it is building Downtown, set to contain c546 units upon completion, on a 2.16ha block at 106-116 Epsom Rd, acquired from Lincoln Developments for $140m in June, 2020.