Stockland has furthered its developmental footprint in Sydney’s north-west, with two new developments slated for construction in the growth corridor.
The residential developer has acquired 340 lots in Marsden Park, as well as the Clydesdale estate landholding from BHL Group, that both accompany the developer’s masterplanned community, Elara, also located in Marsden Park.
Stockland’s Chief Executive of Communities, Andrew Whitson, says the accession of both developments will expand the developer’s footprint in the area.
“This is a great opportunity to expand our landholding within Marsden Park with zoned land and extend the sales and development program of our Elara community which has a very strong brand in the north-west growth corridor,” he says.
“The acquisition aligns with our strategy to restock our development pipeline with market-ready projects in well-connected corridors close to transport, schools, jobs and infrastructure.
“This corridor remains significantly under-supplied, and we expect our communities in this corridor to continue to attract good demand from homebuyers in the medium term, with record low interest rates and an increased customer demand for homes in high-quality, master-planned communities.”
Both additions follow on from the developer’s $415 million purchase of the undeveloped section of The Gables estate, located in Box Hill. Acquiring the lots from Celestino Developments, Stockland aims to construct approximately 1900 dwellings by the time of completion for the development.
Richard Rhydderch, Stockland’s Communities General Manager in NSW, says the developer is well versed in creating outstanding projects in Sydney’s north-west.
“Both Elara and Altrove have proven very popular with homebuyers over the past few years,” he says.
“The acquisition of the Clydesdale estate precincts will see Stockland expand its offering at Elara with a range of housing options, good access to the local infrastructure, services and great parks and open spaces we’ve created at Elara.
“As part of our plans for the site, we will restore the Clydesdale House heritage precinct, and work with local authorities to create an additional open space area for the entire Elara community to access and enjoy.”
For more information regarding Stockland’s developments in Sydney’s north-west, visit stockland.com.au.