This article is from the Australian Property Journal archive
SINGAPORE’S World Class Global, the developer of Australia 108, is expanding into the suburbs, by buying a stake in a Hawthorn townhouse project for only $100.
World Class has acquired 100% interest in SBD 102 Pty Ltd from Sinclair Brook.
SBD 102 has entered into a joint venture with SBD 101 Pty Ltd, another wholly-owned of Sinclair Brook, which in turn has entered into a joint venture with Payton Property to develop a townhouse development at 573 Glenferrie Road Hawthorn.
Payton will hold a 50% interest whilst Sinclair Brook and World Class will each have a 25% stake.
World Class said the group intends to participate in the project.
The 2,149 sqm site is currently seeking approval for a low-rise six-storey 17 townhouses development with 21 car parking spaces.
Australian Property Journal
