HK company backs Macquarie Park residential site
A new project to construct 285 residential units in Sydney will commence mid-next year.
Firms: Herbert Smith Freehills (China Overseas Australia)
Deal: China Overseas Australia will commence its NEUE residential development in Sydney in the first half of 2018.
Area: Property and construction
Key players: The HSF team advising China Overseas Australia was led by consultant John Wei and real estate partner Nicholas Cowie with the support of senior associate Japonica Sheridan and licensed conveyancer Lyn McSweeney.
Deal significance: A total of 285 units will be built as part of the residential development led by China Overseas Australia at 137-143 Herring Road, Macquarie Park.
China Overseas Australia is the Australian division of China Overseas Land and Investment (COLI).
COLI is involved in property development across the world. Listed on the Hong Kong Stock Exchange, the company is owned by No 24 on the Fortune Global 500 group CSCEC.
HSF consultant John Wei said a growing number of real estate clients from china were turning to the firm to assist engaging with the Australian market.
“We are thrilled to be advising COLI on this project and we are grateful that COLI entrusts us to work with them on their first development in Australia,” Mr Wei said.
“The firm is currently advising Greenland Australia and Golden Horse Australia on a $1.6 billion multi-staged development in Erskineville; Poly Real Estate on a portfolio of four developments across Sydney with a forecasted end value of $1.5 billion, and was recently appointed to act for Shokai Ausbao on its staged, mixed use development in Granville, Sydney,” he said.