Aqualand prestige arm to offer wholesale and wealthy private investors access to select projects
Property developer Aqualand Group has launched a new prestige arm offering wholesale investors.
Property developer has launched a new prestige arm offering wholesale investors, institutional funds and wealthy private investors the chance to back select projects.
The new Aqualand Prestige will draw on the company’s development and construction businesses as well as its investment unit, AL Capital, to find opportunities for investors.
Funds raised will be directed into AL Capital’s newly established management fund, which is tailored specifically for wholesale investors.
The future project portfolio already includes three key sites on Sydney’s north shore – 51–55 Archer Street, Chatswood, 2 & 4 Larkin Street in Roseville and 1, 3 & 5 Pockley Avenue in Roseville, the sales of which have recently exchanged.
Plans for the Chatswood site include a 35-storey, mixed-use, 117m-high residential tower with 24 whole-floor apartments, with an estimated end value of $270m.
A design competition for this project is expected to be announced early next year.
The two Roseville sites are earmarked for a medium-density apartment development, with a combined gross floor area close to 33,000sq m.
Aqualand Group managing director Jin Lin said the launch of Aqualand Prestige was the culmination of the company’s decade of growth.
It has undertaken five projects, including renewing the heritage listed building, The REVY, and BLUE at Lavender Bay. It has also completed the $1bn 28-storey North Sydney tower AURA by Aqualand.
