The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
7
print
Print
OtherClare BurnettWed 01 Mar 23

Billionaire Family Launches Macquarie Park Commercial Plans

Lyonpark EDM

Plans have been lodged by a vehicle of the Teoh family for a major commercial development in Macquarie Park.

If approved by the City of Ryde Council, the project will deliver a complex of buildings up to 14 storeys. 

68 Waterloo Road Pty Ltd is the company behind the development, associated with two of the Teoh family sons, Bob and Shane.

Family patriarch David Teoh is the founder of Australia’s TPG Telecom.

The development, planned for 12 Lyonpark Road and 68-72 Waterloo Road, aims to preserve the majority of the existing commercial building on the site. 

Over a staged development process costing an estimated $185 million, three buildings will be added to the site. 

Stage 1 will consist of the construction of a one-storey retail building and lot amalgamation, and demolitions are planned for stage 2.

This will make way for the construction of a 13-storey commercial building with a gross floor area of 22,789sq m. 

Stages 3 and 4 will deliver further demolition works and the building of a 14-storey commercial building, ‘Building C’ with a proposed GFA of 31,190sq m, as well as alterations and additions to an existing five-storey building at 68 Waterloo Road. 

null
▲ Bob and Shane Teoh are property developers, investors and part owners in Oscar Wylee opticians alongside their two brothers.

The plans, lodged by HDC Planning and A+ Design Group on the Teoh’s behalf, seek to improve land use in the area as well as upgrade the current buildings. 

Surrounding developments are a mix of commercial and mixed use building. The Macquarie Park area “is experiencing significant redevelopment”. 

The area has attracted major names in the world of property development, including Iwan Sunito, who is planning a $450-million residential development after picking up a site in the area.

Singaporean developers Centurion have launched a $132-million student accommodation project, while Malaysian developer Eco World International wants to build a $55.5-million apartment tower in the area.

OtherRetailResidentialdo not useAustraliaPlanningPlanningSector
AUTHOR
Clare Burnett
More articles by this author
ADVERTISEMENT
TOP STORIES
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
View All >
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
The latest deal brings the value of the fund manager's investment footprint in the Northern Territory to about $700 mill…
LATEST
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
3 Min
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
2 Min
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/billionaire-family-teoh-macquarie-park-commercial-development-application