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Moelis has acquired 54 brand new apartments from Payce for approx $30 million.

Property Markets / Transactions


Jun 24 2019

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Sydney residential developer Payce has sold Moelis Australia 54 apartments for approximately $30 million, construction is due to complete next month.

Located within the 779-apartment mixed-use "South Village" project in Sydney's Kirrawee, the transaction represents a 20-25% discount to prices this time last year and a significantly further discount .when compared to the height of the 2015-16 market.

South Village is located 25 kilometres south of the Sydney CBD, the developer Payce sold the retail portion of the project to Mirvac measuring 100,00sqm in 2016 with Coles and Aldi, and 2017 and the residential project to developer Deicorp, keeping two blocks of units as an owner.

The 54 units which Payce sold to Moelis are all located in one block known as "Vision".  There are 29 one-bedroom and 24 two-bedroom apartments and one three-bedroom unit.





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