This article is from the Australian Property Journal archive
FRASERS Property has paid $82.5 million for the Sydney’s Royal Rehabilitation Centre.
Frasers has purchased 13.7 hectares of the 18 hectare site in Ryde, 12km north west of the Sydney CBD.
Frasers Property Australia managing director Dr Stanley Quek said the company intends to create a new residential community based on the existing approved concept plan for the site.
The sale allows Royal Rehab to create a purpose built, state-of-the-art specialist rehabilitation, disability and research facility on the remaining 4.7ha site.
Frasers will now begin preparing designs and planning applications, with sales expected to commence in early 2011.
Australian Property Journal
