Monday, May 28, 2018

Meriton Group’s $245 million buy

Developer Harry Triguboff’s Meriton Group is buying the balance of the beachfront Little Bay Cove project in Sydney in a $245 million deal.

The purchase involves 11ha in the master-planned eastern bays community, which fronts Anzac Parade and has a lake as its centrepiece.

The Meriton buy, through a put-and-call option with Malaysia’s TA Global Berhad, covers land approved for 391 apartments.

Mr Triguboff yesterday said Little Bay Cove was very much a ready-to-go proposition for Meriton because infrastructure and landscaping largely were in place.

“Little Bay has immense appeal because of the lifestyle on offer to residents.

“It’s one of the last remaining parcels of land in the Eastern Suburbs.

“Little Bay Cove is by the sea, neighbours a golf course, has Prince Henry estate to the south, and will benefit from the new light rail.

“I hope our buy will show people that Meriton retains, as always, its enormous faith in Sydney and isn’t deterred by so-called market blips.

“We keep building, building and building.”

About accomnews

accomnews

Check Also

Veins used to stop tourists being left on the reef

A world-first electronic tracking system uses tourists' handprints to monitor their movements is being trialled on the Great Barrier Reef to reduce the risk of tourists being left behind.

Shareholders say ‘oui’ to French takeover

Mantra Group shareholders have voted overwhelmingly to approve the $1.2 billion sale of Australia's second biggest hotel and resort operator to French accommodation giant Accor.

Airbnb boss slams “false choice” between home-shares and hotels

Airbnb's regional chief says the home-share giant wants to work with accommodation houses, not replace them.

Leave a Reply

Your email address will not be published. Required fields are marked *