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CBus Property in luxury residential joint venture
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The property arm of big building industry fund CBus has entered into a joint venture with building and construction company St Hilliers to launch a marketing campaign supporting the development of luxury apartments in the inner city Sydney suburb of Darlinghurst.
Construction of the development, named Dominion, is scheduled to start in December and will take 18 months to complete.
St Hilliers said that while the development was the first project undertaken with CBus Property, it might not be the last.
St Hilliers executive chairman Tim Casey said the joint venture partners were investigating opportunities for further investment in similar high-quality commercial and residential projects.
While CBus, via CBus Property, has a long track record of investing in property development, reports today have pointed to AustralianSuper entering into a $200 million deal to invest in an unlisted property debt portfolio managed by Challenger.
AUTHOR
Mike Taylor
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