Attachments
25 Jun 2015
Fridcorp, one of Australia's most design-focused property developers, along with its capital partner Wingate, today announced the sale of their new Erskineville site to B1 Group for an impressive $65-$70 million.
The sale follows the highly successful launch of their $145m "Eve" development last year, also located in Erskineville.
Eve, set for completion in the first half of 2016, is Fridcorp's first Sydney development, which exceeded all expectations on launch day. Fridcorp intends to continue its growth and development in the Sydney market with a number of projects in the pipeline.
The 1.2 hectare site with the ability to have approximately 230 apartments was sold by McGrath Projects Directors Steven Chen and Michael Chen who brokered the deal within a 48-hour period. Steven Chen said, "The Sydney based B1 Group had been looking for key sites in the Inner west and Fridcorp's second stage of their Erskineville project was outstanding timing."
Paul Fridman, Director, Fridcorp added, "We are committed to our growth in the Sydney market and together with Wingate have seen great success from the launch of Eve in Erskineville and will continue to explore more opportunities here."
About Fridcorp
Since its inception fifteen years ago, Fridcorp has an enviable reputation of delivering attainable luxury in every project that carries its name. Fridcorp's projects are examples of inner city living at its best. The distinctive design of all Fridcorp projects are sought after properties and will continue to be for decades to come.
About Wingate
Wingate is widely regarded as one of Australia's leading specialist finance and investment houses, with teams specializing in property, global equities, consumer and asset finance and private equity.