Mirvac gets OK for 1250-dwelling Sydney complex

Apartment developer Mirvac has received unanimous approval from the Central Sydney Planning Committee for its $1 billion development for the Harold Park paceway at Glebe in Sydney’s inner west.

The project includes 1250 new apartments on the 11ha site and Mirvac is expected to start work immediately on the first stage scheduled for completion by mid-2014. The approval is for all six stages that eventually will house about 2500 residents and include 20ha of public parkland linking Glebe, Annandale and Forest Lodge.
More than 180 buyers have already bought into the development for a minimum $499,000 for a studio up to $1.6 million for a terrace, sales averaging $870,000. There are 296 apartments in stage one.
Mirvac purchased the paceway – site of the Harold Park trots – for $187 million in late 2010.

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