Developer Chiwayland has acquired a 4422-square metre site in Sydney's Epping for $24.3 million.
As reported in The Australian Financial Review, the Singapore-listed company plans to develop a 90-apartment project at 17-25 Epping Road. It is reportedly due to begin construction in 2016 with completion due in late 2017.
The sale comes off the back of Chiwayland's expansion early this year into Parramatta with a $27 million land acquisition. The site will become home to a 44-storey residential development featuring 366-units.
Epping is a major transport hub with rail links to Sydney through Macquarie Park and Strathfield, as well as being well-serviced by bus facilities. The M2 Hills Motorway runs along with northern border to the Sydney CBD. Epping Road is a major arterial road in the area that runs east from the railway station to the Pacific Highway.