This article is from the Australian Property Journal archive
LANG Walker and liquor group Kemenys have formed a joint venture to develop $1 billion of mixed-use residential developments across three Kemenys-owned sites in Sydney.
The sites consist of a food and liquor outlet in Bondi, Kemenys’ head office at Green Square and a gateway site in Homebush.
Walker Corporation chairman Lang Walker said Kemenys is a good example of how a well-established business can unlock their high value landholdings to deliver residential dwellings and retail amenities.
The three sites comprise 1.5 hectares and is expected to deliver around 1,000 apartments and 15,000 sqm of retail space.
Walker said each location has its own unique features.
“Part of Sydney’s food and wine scene for over 50 years, the Bondi property is located within minutes of Bondi Beach and Bondi Junction.
“The Green Square location is just metres from the railway station and town centre, while the Homebush property is prominently located in the commercial heart of Homebush; well-connected by the train station, future light rail and bike-paths and part of Urban Growth’s Parramatta Road Strategy,” he added.
Kemenys managing director Gabor Kemeny said in addition to fresh food markets, specialty foods and groceries, cafés, restaurants and kiosks, the Kemenys business will feature prominently in all of the centres, to create “first class food and wine destinations.”
“Our proven mixed-use approach will deliver first-class apartments, serviced by high quality retail and hospitality on the ground level, that will attract prospective buyers and invigorate their neighbourhoods.
“Walker has a very strong 50-year history of transforming established sites to become thriving communities where people can work, live and socialise. These projects include King Street Wharf, The Wharf at Woolloomooloo and Rhodes Waterside,” Walker concluded.
Planning proposals are expected to be lodged in the next few months, with construction expected to start in 2018 and a staged completion expected in 2020.
Australian Property Journal
