ROMECITI LAUNCHES 357-APARTMENT PROJECT AT MACQUARIE PARK

Sydney property developer Romeciti has launched its biggest residential development in Sydney to date with the $450 million Macquarie Park project, Natura.

The developer, which started with smaller apartment developments in south Sydney and Manly, has expanded into large-scale projects such as the 357-apartment Natura, 13 kilometres from the Sydney CBD, and right in the middle of one Sydney’s largest business parks. The group snapped up the one-hectare site at 82 Waterloo Road, Macquarie Park, for about $120 million from Goodman Group in an off-market deal at the start of the year. The site holds an office building, the Everglade Campus. Romeciti associate development manager Loughlin Jordan said the “ambitious project was designed to marry deluxe apartment living with an abundance of open spaces and luxurious communal amenities”. The project is designed to marry “deluxe apartment living with an abundance of open spaces and luxurious communal amenities”.

The developer is planning to use most of the site – 7000 sq m – as communal gardens and has appointed architects Architectus to design the project. Elenberg Fraser will design living and communal spaces while Aspect Studios will handle landscaping. “Our inspiration behind the unique design was creating a ‘big home, bigger community’ environment. We wanted to really connect apartment living with the outdoors, right in the middle of the innovation precinct that is Macquarie Park,” Mr Jordan said.

The project will also include a gym, a wine cellar, a business lounge with a separate courtyard and a library. There will also be function room facilities. Penthouses at the project come with private “sky lounges” as well as concierge services. But the biggest attraction of the project is its proximity to two train stations, Macquarie University and the AMP Capital-owned Macquarie Shopping Centre. The The developer is planning to use most of the site – 7000 sq m – as communal gardens. Supplied Romeciti expects to complete the project in 2020. The developer has enjoyed success at its Eastwood Central project where it sold out stage one and is now selling stage two. Like Natura, Eastwood Central is close to the train station. A third stage is due to be launched in 2017.

Romeciti’s attempts to climb on board the Macquarie Park development bandwagon were thwarted in 2016 by Hong Kong-listed Chinese developer China Overseas Holdings which snapped up the close by 5022 sq m “Parklands” property at 137-143 Herring Road. China Overseas Holdings, a subsidiary of one of the largest construction companies in the world, the $43 billion China State Construction Engineering Corporation, has lodged a development application for an apartment project.

Read the full article at afr.com

Developments | 08.05.2017
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