Frasers Centrepoint inks $288m construction deal for Sydney development

It appointed Brookfield Multiplex to deliver its DUO project.

Through a joint venture between Frasers Property Australia and Sekisui House Australia, Frasers Centrepoint Limited (FCL) sealed the deal with Brookfield Multiplex to deliver FCL’s mixed residential, commercial and hotel development DUO in Australia.

According to the firm’s media release, under the A$290m (roughly $288m) construction contract, DUO is slated for completion in early 2018. To date, more than half of the 5.8 ha Central Park precinct has already been delivered.

Currently, less than 90 apartments remain for sale, priced from $710,000, according to FCL. Launched to the market in November last year, apartments have sold from $650,000 to $2.2m.

DUO’s residential component comprises 313 apartments, most of which will be situated in the eastern tower. The adjoining western tower will include a 297-room hotel, ground-floor retail, 5,500 sqm of commercial space, a childcare centre, and the refurbished The Australian Hotel.

Construction will involve a peak workforce of approximately 800 people.

The start of construction of DUO’s two towers on Broadway kicks off the fifth stage in the construction program of FCL’s A$2 billion master-planned community in Chippendale. FCL further notes that construction will involve a peak workforce of about 800 people.

Located on the corner of Broadway and Abercrombie Streets Chippendale, DUO occupies a prized position facing Broadway.