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Cbus in Sydney residential JV
Big building and construction industry superannuation fund Cbus has joined with developer St Hilliers to undertake a major residential development in the inner Sydney eastern suburb of Darlinghurst.
Cbus has committed to the project via its wholly-owned subsidiary, Cbus Property, which will see a residential development built on a 4,500 square meter site acquired from St Vincent’s Hospital more than a year ago.
Commenting on the joint venture, Cbus Property chief executive Adrian Pozzo said the fund saw enormous opportunity in both the Sydney commercial and residential property markets over the next few years.
The 4,500 site, currently occupied by the Caritas health care facility, will become available for the joint venture development in September next year.
AUTHOR
Mike Taylor
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