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09 August 2015 Posted by 


LISTED property developer Payce Consolidated will sell its half stake in the 2.6-hectare Bay Park project, in the Auburn local government area, in a $100 million deal.

The project is located in the established Waterfront development project, at Wentworth Point, on the Parramatta River.

The Bay Park project, in which Payce entered into a joint venture with Japanese developer Sekisui House, in June 2013, to develop the precinct, has concept-plan approval which is expected to include about 680 residential apartments.

Payce is also undertaking a 1.8-hectare mixed-use development, nearby, at the Sydney Olympic Park ferry terminal, in a joint venture with Sekisui House, to deliver up to 250 residential units.

The pair’s ventures in Western Sydney also include Royal Shores Ermington, a 2-hectare site on the Parramatta River, at Ermington, for 612 residential dwellings, and the acquisition of two adjacent tenanted industrial sites, totalling 16 hectares, in Melrose Park, near Ermington, for $118.5 million.


Michael Walls
0407 783 413

Western Sydney Business Access (WSBA) covers the business and community issues of the Greater Western Sydney region of Australia. WSBA is the popular media source for connecting with the pulse of the region and tapping into it's vast opportunities and networks.