This article is from the Australian Property Journal archive
RESIDENTIAL developer Tian An Australia has acquired 1.26-hectare Enfield site for $35 million, bolstering its presence in the inner-western Sydney pocket.
The 4 Mitchell Street property is located in the neighbouring suburb to Tian An’s 210 residential unit Burwood Square development, which also comprises 7,400sqm of retail and commercial space.
The R1 General Residential-zoned site was acquired from Vision Australia and currently comprises an office and warehouse facility. Vision Australia will continue to use the site as its head office, with the lease expiring in November next year.
Tian An said it will undertake a residential development of the property, and has considered the development of townhouses as well as exploring all other available options.
The transaction marks the company’s first acquisition since changing its name in April to Tian An Australia, having previously operated as PBD Developments before Hong Kong-listed Tian An China acquired a near-20% stake in the company from Mulpha.
Tian An Australia reaffirmed previous statements that it would seek to leverage expertise and brand power from Tian An China, and focus on its strategy of diversifying the group’s residential development sites along the east coast of Australia, within inner metropolitan and city locations, close to established infrastructure.
Australian Property Journal
