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Triguboff remains confident in Sydney’s unit market, with $80 million purchase

Property Markets / Transactions

Australia / Sydney

Mar 19 2018

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Developer Harry Triguboff’s Meriton Apartments has bought a Zetland site for $80 million, which could accommodate 300 apartments. 

Although property observers say the area may face oversupply with new apartments being built around Green Square, and banks limiting investor loans in that area, Triguboff remains positive, claiming to have no vacancies for his new flats.

Meriton has backed up its confidence in the market, with further purchases in suburbs including Mascot and La Perouse.

Last Thursday, he formally opened the group’s Pagewood Green, a $3 billion project at Pagewood in Sydney’s eastern suburbs, with settlements due to commence this week.

The Zetland site is at 94-104 Epson Road on 1.06ha, with the $80 million price tag representing a rate of about $3050 per square metre of permissible gross floor area. 



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