Mirvac to build Canterbury Racecourse apartments
Mirvac is bulking up its Sydney development pipeline, striking a partnership with the Australian Turf Club under which it will develop surplus land adjacent to Canterbury Racecourse.
The group is undertaking projects across Sydney as it seeks to capitalise on well-located apartment sites and areas that it can masterplan.
The site in Sydney’s southwest spans 12,800sqm and sits in the Sydenham to Bankstown Urban Renewal corridor strategy, which is being reviewed by the NSW Department of Planning and Environment.
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ATC and Mirvac will work with the state government and Canterbury Bankstown Council towards what they termed a “considered, suitable development outcome”.
The area near the track could be the site of apartment towers up to 18-storeys, according to the state government’s strategy which was revised after feedback from the ATC.
Near Canterbury Rd, the site will have good transport connections from proposed future links, such as the new Sydney Metro Rail.
Mirvac head of residential, Stuart Penklis, says the site presents a rare opportunity in Sydney, and the group would bring its long track record of quality developments to the area.
ATC chief executive Darren Pearce says revenue from the development will be reinvested in racing and improving facilities for our members and patrons. “Given this parcel of land is not essential for racing operations, we believe there is a fantastic opportunity to set a new benchmark of quality for development in Canterbury,’’ Pearce says.
This article originally appeared on www.theaustralian.com.au/property.
