Frasers Property Australia teams up with Sekisui House to develop Sydney Central Park

The joint venture will develop the majority of the 5.8 hectare mixed-use Central Park development in central Sydney.

In Singapore, FCL is currently involved in joint ventures with Sekisui House on other projects and the joint venture represents an extension of that relationship into Australia.

Under the terms of the joint venture, which will come into effect after satisfaction of relevant conditions, FPA will continue as the Development Manager, Project Manager and Sales and Marketing Manager for the project.

The development at Central Park will include a precinct-wide tri-generation plant for the provision of electricity, chilled water and hot water as well as a water treatment facility that will recycle sewage and stormwater for use in the tri-generation plant and for sanitation and landscape irrigation.

FPA purchased the site on Broadway in 2007, commencing demolition and early infrastructure works in 2008 and achieved masterplan approval in early 2009. Construction is well underway on the first residential stage, ‘One Central Park’, which is due to complete by mid-2013.