Phoenix saw an opportunity to acquire a substantially de-risked
site with an existing development approval and a 15-year lease
back of the retail to a major listed Australian supermarket chain.
This project involves the development of 70 residential apartments
on top of a retail component anchored by a 4,500 sq.m NLA
supermarket.
The Property is well-located in a relatively affluent area with
strong owner-occupier demand driven by its proximity to amenities,
schools, public transport, and Chatswood CBD and Sydney CBD. The
boutique nature of the development coupled with the convenience of
ground floor supermarket will appeal to many owner-occupiers and
in particular downsizers, retirees and families.
