In another major purchase this week, listed developer Sunland Group has entered into an unconditional contract to acquire a 6.09-hectare land parcel in Ingleside in New South Wales for $12.2 million.
Ingleside (pictured) is part of Sydney’s northern beaches region, located about two kilometres from the coast at Mona Vale.
The site is located in the Pittwater Council’s Ingleside Urban Release Area, where both the NSW Department of Planning and Infrastructure and the Pittwater Council and Urban Growth are planning a process to allow residential development.
Sunland Group Managing Director, Sahba Abedian, said the acquisition further facilitates the expansion of the Group’s portfolio with a particular focus on New South Wales.
“This also further reinforces the suite of residential developments underway at the Parc, Kellyville, and Dahlia, North Kellyville,” he said.
The transaction was negotiated Stuart Cox of Savills Residential Site Sales, NSW.
"This was a unique opportunity to acquire a sizeable landholding with the potential for residential development in Sydney’s northern beaches," Mr Cox said.
