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Anglican Church expands footprint

Multiplex has completed the rejuvenation of Darling Harbour, delivering M&L Hospitality’s redevelopment of 161 Sussex Street. Photo: John GollingsIn order to combine its Sydney properties at Telopea and Dundas, the Anglican Church has acquired a Rydalmere industrial site for $8.25 million. The 5000 square metre site  at 32 South Street will be developed as the new church for the Parramatta LGA parish, serving several surrounding western Sydney suburbs.
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To fund the acquisition, CBRE’s capital markets team of Peter Vines, Alex Mirzaian​ and Tom Sheridan was engaged to negotiate the sale of the church’s Dundas and Telopea sites. The Dundas Anglican Church, metres from the station at 79 Kissing Point Road, sold for $7.6 million to an Asian investor/developer, a record result for the area.

“The competitive sales campaign received 45 inquiries and 10 contract requests, underpinned by the site’s significant development upside with potential for 48 apartments at a proposed value of about $160,000 per unit,” Mr Mirzaian said. Hyatt Regency

Multiplex has completed its rejuvenation of Darling Harbour, delivering M&L Hospitality’s redevelopment of 161 Sussex Street. The former Four Points by Sheraton Sydney was rebranded earlier this year to Hyatt Regency Sydney, marking the Hyatt Regency’s return to Sydney.

The redevelopment included refurbishment of the existing hotel; a new 3667 sq m convention centre; and a 25-level tower including 13 new hotel levels and 10 levels of A-grade high-rise commercial office space.

David Ghannoum​, regional managing director at Multiplex, said the project will contribute to the revitalisation of Darling Harbour “as a vibrant tourism hub”.

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