This article is from the Australian Property Journal archive
MIRVAC has won the bid to build a new residential development on the site of the former Marrickville Hospital in Sydney’s inner-west.
Located just 7km from Sydney’s CBD, the proposed development includes 220 apartments across three buildings, plus a public library and community hub for Marrickville Council. Mirvac has also dedicated a minimum of 4% of the apartments for affordable housing to Marrickville Council, along with 1,200 sqm of public open space.
“We are thrilled to have been chosen to deliver this mixed-use project which will provide residents of Marrickville with a much needed new library and community facilities,” Mirvac’s head of residential John Carfi said.
He added that demand for quality new residential product in Sydney’s inner-west remains strong.
The project is forecast to deliver returns that exceed Mirvac’s IRR target, with contributions expected to be realised in FY19.
Australian Property Journal
