Coronation Property further expands into Sydney’s inner-city with the acquisition of a 2,000sqm site on Archer Street in Chatswood for their planned 130-apartment development project.
Located at 57-61 Archer Street, less than a 10-minute walk to the Chatswood Station, the site benefits from its prime location surrounded by key amenities including Westfield Chatswood and Chatswood Chase.
Coronation Property intends to utilise the site for its planned $200 million mixed-use development which will feature luxury residential units and 2,000 square metres of retail space. The company is looking into tapping the owner-occupiers and investors market with its latest project which they expect to commence construction in about a year and a half after development approval.
“The Chatswood site presented a unique opportunity for Coronation Property to contribute to what we see as one of Sydney’s fastest-growing precincts. With the State and Willoughby Councils’ commitment to further developing Chatswood as major employment and residential hub, we are excited to respond to the demand for more housing in the area and build upon an already highly sought-after community,” Head of Urban Transformations at Coronation Property, Aras Labutis said.
“The site is in an ideal location, in a blue-chip area that is currently experiencing extensive investment into its town centre and the surrounding infrastructure. These factors will drive further growth in the area and make Chatswood an excellent opportunity for owner-occupiers and investors.”
The Chatswood project adds to the company’s development pipeline with more than $5.2 billion in major mixed-use projects currently underway including 8 Phillip Street in Parramatta, Charlie Parker in Harris Park, and Mason & Main in Merrylands, Ashbury Terraces in Ashbury and Moore Point in Liverpool.
Two other residential developments are also coming to the Chatswood area, namely, the 16-storey luxury apartments tower at 15 Ellis Street and the 25-storey mixed-use dwelling and commercial development at 44-52 Anderson Street.